FCP℠ today announced the closing of FCP Realty Fund IV, L.P. (Fund IV), a $755.0 million fund targeting multifamily and commercial property opportunities throughout the Eastern U.S. and Texas. Fund IV, when fully invested, is expected to accommodate approximately $2.5 billion of total investments. FCP has already closed on one investment through Fund IV, an adaptive re-use creative office project, known as Sylvan Supply, located in Nashville, TN.
“FCP is extremely pleased with investors’ appetites for our value-add Fund IV offering,” said FCP Managing Partner, Esko Korhonen. “Since our inception, FCP has built a robust operating platform allowing us to effectively deploy fund capital. Over the years, we have added exceptionally talented professionals and are fully operational in 12 markets where we have deep local knowledge and established relationships.”
Mr. Korhonen continued, “FCP continues to have high conviction in a balanced investment approach. The foundational piece of our portfolio continues to be investments in the moderate income, class B and C apartment sectors that provide durable cashflow and a strong hedge against rising interest rates. The remainder of the portfolio is targeted to include alpha generating investments with a highly targeted approach to multifamily development and value-add commercial office focusing on adaptive re-use and creative office. Our access to fully discretionary capital also allows for the flexibility to invest throughout the capital stack as equity, preferred equity, mezzanine debt or any combination of the above. We are excited at the prospects for our fourth fund given the opportunities created by the positive growth outlook for the Eastern U.S. and Texas.”
FCP would like to acknowledge and thank Evercore Group for their assistance with the FCP Realty Fund IV, L.P. fundraise.
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.