FCP Enters Phoenix Market with Multifamily Acquisition
FCP has acquired Tides at South Tempe for $71.5 million through a joint venture with Tides Equities, a real estate investment company focused on multifamily investments. The 442-unit apartment community is FCP’s first investment in Arizona.
Tides at South Tempe is located close to Superstition Freeway and Interstate 10, proximate to major job centers, downtown Tempe, downtown Phoenix and the Phoenix Sky Harbor International Airport. The community features studio, one- and two-bedroom units with luxury touches, including hardwood flooring, quartz countertops, stainless steel appliances and balconies or patios.
FCP is a privately held real estate investment company based in Chevy Chase, Maryland, that has invested in or financed more than $6 billion in assets since its founding in 1999.
FCP invests directly and with operating partners in commercial and residential assets.
