FCP MAKES FIRST MULTIFAMILY INVESTMENT IN COLORADO WITH RECAP OF IVY CROSSING APARTMENTS IN DENVER
CHEVY CHASE, Md., May well 26, 2022 /PRNewswire/ — FCP® announces its initial equity multifamily acquisition in the Denver, CO industry with the joint undertaking recapitalization with BMC of Ivy Crossing, a 1,023-unit condominium neighborhood at 2320 S. Quebec Street. Before in Could, FCP announced its financial investment, with Lincoln Residence Enterprise, in the development of a 450,000 square foot daily life sciences campus around Boulder.
“FCP is thrilled to husband or wife with BMC, an knowledgeable Colorado multifamily proprietor and operator, as we continue on to broaden our financial commitment profile in the western U.S. regions,” stated FCP’s Bart Hurlbut. “Our organization plan at Ivy Crossing will incorporate creating on BMC’s achievements to day with a $23 million money and interior renovation program intended to boost the residence and its attractiveness inside its competitive established.”
“We acknowledge the want for very affordable workforce housing selections in the Denver metro location and we really feel it is our duty to build these environments for our citizens and enable much better the neighborhoods in which we devote,” claimed Jeff Stonger, Main Expenditure Officer of BMC Investments. “This partnership with FCP furthers that dedication and supplies the suitable cash composition to supply on that eyesight.”
Ivy Crossing is nicely-positioned in close proximity to I-25 and I-225 and two Gentle Rail stations and is hassle-free to retail and employment centers together with the Denver Tech Corridor, Fitzsimons Health care Campus and the College of Denver. Ivy Crossing capabilities studio, just one-, two- and 3-bed room flooring plans on 36 acres with courtyards, picnic locations and dog parks. Facilities contain a fitness heart, clubhouse with an leisure atrium, indoor and out of doors swimming pools, playgrounds and nearby strolling trails.
FCP® is a privately held true estate expenditure business that has invested in or financed extra than $9.3 billion in assets considering that its founding in 1999. FCP invests right and with functioning partners in professional and residential property. The company makes fairness and mezzanine investments in profits-producing and enhancement homes. Primarily based in Chevy Chase, MD, FCP invests both equally its commingled, discretionary funds and different accounts specific at significant real estate marketplaces in the United States. For additional details on FCP, you should stop by www.fcpdc.com.
BMC Investments (“BMC”) is a very disciplined, vertically built-in actual estate expenditure supervisor building market-top returns through acquisition, advancement, and property administration of many residence varieties in the course of the U.S. BMC focuses its financial investment strategy on building very long-term value in its assets and generating potent threat-adjusted returns. The organization is ready to outperform its peers by (i) attracting, retaining and creating superior caliber people in the appropriate roles, (ii) determining interesting multifamily investments, (iii) retaining a measured and disciplined expenditure course of action with rigorous concentration on threat management, and (iv) making use of very best-in-course running techniques and processes. To study much more, go to www.bmcinv.com.
Media Get in touch with: Karen Widmayer
KW Communications, LLC
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