FCP announces $22 million in preferred equity has been invested through its Structured Investments platform to finance two multifamily transactions: the development of Arris NoDa in Charlotte, North Carolina with partner Arris. Also planned is a recapitalization with Grubb Properties of Link Apartments West End in Greenville, South Carolina.
“FCP is pleased to provide financing through our Structured Investments platform for these transactions, each well-located in a dynamic Southeast market,” said FCP’s Kevin Murphy. “We are fortunate to have a successful history with both investment partners and recognize their respective expertise in delivering and operating well-positioned apartment communities.”
FCP’s Structured Investments platform has invested approximately $676 million of capital to date, providing flexibility and creative capital solutions to owners and developers.
Arris NoDa ia a planned 276-unit, four-story, garden-style property, while Link Apartments West End is a Class A, 215-unit, five-story midrise apartment community.
FCP® is a privately held real estate investment company that has invested in or financed more than $12.4 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets.
Grubb Properties, founded in 1963, is a vertically integrated real estate company focused on the Essential Housing space through its Link ApartmentsSM brand.
Arris, founded in 2019, is a vertically integrated, modular multifamily manufacturer and developer headquartered in Atlanta, GA. Arris owns a manufacturing facility located in Clio, SC and began modular production in late 2019. By combining advanced modular framing in the factory with experienced site construction teams, Arris is able to decrease the cost and time associated with traditional stick-built multifamily projects.
