FCP Closes Its Fourth Fund At $755M
Fund IV will target multifamily and commercial properties throughout the Eastern US and Texas.
CHEVY 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.
“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.