FCP℠ today announced that it provided $12.5 million in preferred equity financing to Core Property Capital for the development of Avalon at James Island, a three-building, 273-unit apartment community well-located at Maybank Highway and Promenade Vista in the James Island community of Charleston, SC.
“FCP is pleased to partner with Core Property Capital on Avalon at James Island, which will provide high quality product with an exceptional location on James Island,” said FCP Sr. Vice President, EJ Corwin. “The James Island community is just four miles to downtown Charleston and provides excellent access to employment centers and entertainment and retail amenities.”
Residents of Avalon at James Island will enjoy amenities that include:
• Outdoor pool
• Landscaped courtyard
• Fitness center
• Business center
• Bike storage
• Over two acres of undisturbed tree save area
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.