FCP℠ announces the $23.1 million acquisition of Ashford Gardens, a 164-unit garden apartment community at 2203 Plaster Road NE in Atlanta, GA. The acquisition of Ashford Gardens marks FCP’s 7th investment in the Atlanta area.
“Ashford Gardens is a well-located community surrounded by Atlanta’s most prominent employment centers,” said FCP Vice President, Alex Cathcart. “We’re excited to continue to grow our workforce housing portfolio and will look to expand our presence in Atlanta with our new fund.”
Amenities at Ashford Gardens include a resort-style pool, a BBQ/picnic area, a playground, and large one-, two- and three-bedroom floorplans with renovated finishes. FCP will rebrand the community Mirador at Peachtree.
FCP extends its appreciation to Andrew Mays and Matt White of Berkadia for their representation of the seller.
FCP℠ is a privately held real estate investment company that has invested in or financed more than $6 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.