Sylvan Supply renderingCHEVY CHASE, MD-FCP has closed FCP Realty Fund IV. The $755 million fund will target multifamily and commercial property opportunities throughout the Eastern US and Texas. When fully invested, Fund IV is expected to have closed on approximately $2.5 billion of investments.
Already the locally-based company has closed on one investment through the fund, an adaptive re-use creative office project, known as Sylvan Supply, in Nashville, TN.
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“FCP is extremely pleased with investors' appetites for our value-add Fund IV offering,” said FCP Managing Partner, Esko Korhonen, in a prepared statement.
FCP's sweet spot in investing has been in the moderate income, class B and C apartment sectors. However it also focuses on adaptive re-use and creative office projects, Korhonen says. The company also invests throughout the capital stack, via equity, preferred equity or mezzanine debt.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
