FCP® has acquired District West Gables, a 427-unit mid-rise apartment community in West Miami, Florida.
“Executing in today’s environment requires conviction and capital, and FCP is proud to continue expanding in South Florida with a high-quality core-plus asset in Miami-Dade,” said Bruce Gago, Senior Vice President at FCP and head of the company’s Florida investments. “Despite a challenging capital markets environment, we continue to deploy capital into markets where we see long-term fundamentals driving durable demand. Miami-Dade—and West Miami in particular—offers exceptional demographic and employment tailwinds that align with our investment strategy.”
FCP plans to implement a value-enhancement program focused on modernizing common areas and amenities while executing renovations on unit interiors. The company has engaged Greystar as property manager to support operational execution and leasing performance.
District West Gables provides residents with direct access to Miami’s key employment nodes, including the University of Miami, Florida International University, Miami International Airport, and Brickell/Downtown. The property is located less than three miles from Coral Gables’ vibrant downtown and Miracle Mile retail corridor.
Built in two phases (2015 and 2017), District West Gables comprises studio, one-, two-, and three-bedroom residences in mid-rise structures with structured parking. The community features a robust amenity package, including two resort-style pools, dual fitness centers, EV charging stations, a movie theater, cabana-lined sun decks, and expansive resident lounges.
This transaction reinforces FCP’s ability to identify and close on high-conviction assets, even amid market volatility, and further establishes the firm’s footprint in Florida—a region where it continues to actively seek new opportunities across the risk spectrum.
FCP extends its appreciation to Hampton Beebe of Newmark for his representation of the seller and to Matt Williams, Daniel Matz, and Rob Wright of Newmark for their representation of FCP in securing financing.
