FCP EXPANDS FLORIDA PORTFOLIO WITH ACQUISITION OF ALEXAN MIRAMAR APARTMENTS

CHEVY CHASE, Md., Dec. 19, 2024 /PRNewswire/ -- FCP_® is pleased to announce the acquisition of Alexan Miramar Apartments, a newly constructed 250-unit multifamily community located at 3155 SW 147th Terrace in Miramar, FL, part of the thriving Broward County market.

"Alexan Miramar is a strategic addition to FCP's growing Florida portfolio," said Bruce Gago, Senior Vice President at FCP and head of the company's Florida investments. "In a challenging macro environment, FCP continues to identify and execute on opportunities that align with our commitment to delivering high-quality housing in prime locations. This acquisition underscores our confidence in South Florida's long-term growth prospects and the demand for market-rate housing near key employment and retail hubs."

The Alexan Miramar community offers residents thoughtfully designed studio, one-, two--, and three-bedroom apartments with premium amenities tailored to modern lifestyles. Highlights include:

• Community Features: A resort-style saltwater pool, fitness center with rooftop activity deck, shaded 3,000-square-foot dog park, co-working spaces, a creative studio, and green spaces such as a hammock garden overlooking a scenic pond.
  
  
• Apartment Features: Chef-inspired kitchens with quartz countertops, spacious bathrooms with dual access, hardwood flooring, and tech-forward amenities designed to accommodate today's renters.

This acquisition reinforces FCP's ongoing commitment to deploying capital in high-growth markets and expanding its footprint in Florida, where the company has been actively investing in multifamily communities.

FCP extends its gratitude to Denny St. Romain and Charles Crapse of CBRE who secured the debt for FCP, and to Robert Given and Zachary Sackley of CBRE who facilitated this transaction.

About FCP
FCP_® is a privately held real estate investment company that has invested in or financed more than $13.1 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity 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 https://fcpdc.com.

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SOURCE FCP