AUSTIN-After years of lending money to multifamily propertyinvestors – and acquiring its own multifamily portfolio –Principals Capital Funding and First Capital Funding LLC is beingrebranded as Thrive, FP. The broadened scope and differingstrategies led to the name change, with the "FP" representing "forpurpose, for profit."

JP Newman, a managing member of the former First Capital Fundingand founder/CEO of Thrive, FP, says the companies' evolution helpedprompt the branding change. "Our returns have been consistentlygood for investors, but with the market changing, we wanted to showa strong connection between the money investors are investing andthe impact of those funds on the tenants in the apartmentbuildings," says Newman, who partners with Adrian Lufschanowski,president of Thrive, FP.

Newman tells GlobeSt.com that the goal of the new branding –which has taken six months to implement – is also to follow thedouble-bottom line type of thinking. "The better we treat ourcommunities and tenants, the more the tenants feel like family, andthe more likely they'll stay in our buildings," he remarks.