AUSTIN-After years of lending money to multifamily property investors – and acquiring its own multifamily portfolio – Principals Capital Funding and First Capital Funding LLC is being rebranded as Thrive, FP. The broadened scope and differing strategies led to the name change, with the “FP” representing “for purpose, for profit.”

JP Newman, a managing member of the former First Capital Funding and founder/CEO of Thrive, FP, says the companies’ evolution helped prompt the branding change. “Our returns have been consistently good for investors, but with the market changing, we wanted to show a strong connection between the money investors are investing and the impact of those funds on the tenants in the apartment buildings,” says Newman, who partners with Adrian Lufschanowski, president of Thrive, FP.

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