JV with Strategic Capital Partners to Start Construction Immediately on 198,481 SF Class A Office Building
Federal Capital Partners® (FCP) and partner Strategic Capital Partners announce the acquisition of a highly visible development site at the I40 and I540 intersection in the RTP/I40 submarket of Raleigh, NC. FCP and SCP have selected Brasfield & Gorrie as their general contractor and will start construction immediately on a 198,481 square foot, five-story office building – Forty540 – that will be completed in the first quarter of 2017 and will offer superior visibility in the quickly-growing Raleigh market.
“Forty540 will deliver what is currently the only large, highly visible block of Class A office space in the Triangle’s largest submarket,” said FCP Vice President, Bryan Kane. Mr. Kane continued, “FCP is extremely pleased to be partnering with SCP on Forty540. Their deep office experience and strong track record in Raleigh and throughout the country ensures that Forty540 will meet the expectations of tenants in the Raleigh market.” FCP and SCP have retained Edward Pulliam, Brad Corsmeier and Lee Clyburn of CBRE|Raleigh to lease Forty540.
Forty540 will feature highly efficient 41,000 square foot floorplates, prominent building signage opportunities and an unmatched location adjacent to Perimeter Park and overlooking one of the most traveled intersections in the region.
About Strategic Capital Partners
Strategic Capital Partners (SCP) is a privately held real estate company that has invested in over $1.4 billion in assets since 2006. SCP acquires or develops office, industrial and mixed use properties. SCP is based in Indianapolis and is focused on real estate investments in Raleigh, Indianapolis, Cincinnati, Nashville and Northern Virginia.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $4.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and mezzanine debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets on the East Coast of the United States. For further information on FCP, please visit www.fcpdc.com