FCP Expands in New Jersey with New Purchase

WASHINGTON, DC-Federal Capital Partners has been steadily expanding beyond its traditional investment asset class of multifamily, with a new focus on manufactured housing, and outside of its traditional geographic home base of the Mid-Atlantic, with recent investments in North Carolina and Pennsylvania. Now it is pushing further north with its first investment in New Jersey: the acquisition of a manufactured housing community in Egg Harbor Township.

FCP began investing in manufactured housing last year via a joint venture with Horizon Land Co. This latest purchase is of Tilton Terrace, a 228-site manufactured home community located on more than 50 acres that is eight miles from downtown Atlantic City. This acquisition is the largest by FCP in this sector to date and brings the FCP/Horizon portfolio to a total of 16 Mid-Atlantic communities with approximately 2,300 sites.