FCP PROVIDES $22 MILLION PREFERRED EQUITY FOR 305-UNIT MULTIFAMILY DEVELOPMENT IN FALLS CHURCH, VA

FCP® announces a $22 million preferred equity investment through its Structured Investments platform to support the development of a 305-unit, seven-story apartment community adjacent to the West Falls Church Metro Station in Falls Church, VA. FCP is partnering on the investment with Rushmark Properties, a highly respected multifamily developer in the Greater Washington, DC area and throughout the Southeast.The community is exceptionally well-located in Falls Church, with a top-rated school district, immediate access to retail shopping, grocery stores, and restaurants along the vibrant Broad Street corridor. The project is a part of a 42-acre coordinated development effort across two jurisdictions to create a vibrant mixed-use community composed of retail, commercial office, apartments, senior living, and for-sale residences. The Metro location affords rapid car-free access to regional job centers in Arlington, Tysons Corner, the Dulles Corridor, and Washington, DC."FCP is excited to work alongside Rushmark, a highly respected developer and property owner in the DC region," said Billy Herbert, a Senior Vice President within FCP's multifamily development team. "This Falls Church transit-oriented community reflects our investment strategy, with a well-positioned, quality product developed under the direction of a highly successful development team and best-in-class general contractor in HITT."The investment in the Rushmark development reflects FCP's continued interest in Washington, DC area multifamily assets and underscores its ability to provide flexible capital solutions to experienced owners and developers navigating today's challenging environment. This is the second preferred equity investment announced by FCP in the past 60 days, quickly following its investment at Aventon Wesley Chapel in Florida.FCP extends its appreciation to Patrick McGlohn, Brian Gould, Brian Crivella and Pat Cunningham of Berkadia for their representation of the developer.

FCP PROVIDES $22 MILLION PREFERRED EQUITY FOR 305-UNIT MULTIFAMILY DEVELOPMENT IN FALLS CHURCH, VA

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