FCP® announces a $17.2 million preferred equity investment into Belmont Apartments, a 300-unit multifamily development in Riverview, FL, a suburb of Tampa. The acquisition marks the firm’s 16th investment in Florida. Belmont Apartments will be developed by Cross Lake Partners and GreenPointe Holdings.
“This very attractive site is well-located within the 930-acre Belmont master planned community and adjacent to a brand-new Publix,” said FCP Vice President, Bruce Gago. Gago continued, “The Tampa MSA has excellent demographic tailwinds, leading to strong apartment demand and the development of amenities, schools and infrastructure supporting an attractive quality of life.”
Belmont Apartments will be located at the intersection of US-301 and Paseo Al Mar Boulevard, steps from a new Publix-anchored 150,000 square foot retail center and within the thriving community of Belmont. Residents will enjoy easy access to I-75, I-4 and the Crosstown Expressway along with an abundance of dining, shopping and retail amenities and new local schools.
FCP extends its appreciation to Scott Wadler, Jaret Turkell, Wyatt Krapf and Omar Morales of Berkadia South Florida for their representation.
FCP® is a privately held real estate investment company that has invested in or financed more than $8.6 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.