FCP Acquires $40M Georgia Property
The firm entered the Atlanta market in 2015 and has now invested in 33 properties.
Park 35 Apartments. Image courtesy of FCP
FCP has acquired Park 35 Apartments in Decatur, Ga., for $40.5 million. The community is a 304-unit garden style asset located in the Atlanta area.
According to Yardi Matrix data, the previous owner of Park 35 Apartments was Faros Properties which purchased the community in 2020 for $24.3 million. The asset was completed in 1968 and is 95 percent occupied.
Park 35 Apartments is situated at 3529 Robins Landing Way. Next to the property is the Shoal Creek Park with open green spaces. Major retailers in proximity include Publix, Kroger, CVS and Walmart.
FCP entered the Atlanta market in 2015 and has since invested in 33 properties.
Nathan Swenson and Wesley Kenney with Cushman & Wakefield represented the seller in the deal.
FCP’s year at a glance
This year, FCP has partnered with other firms on multifamily communities around the nation. In Broward County, Fla., it joined Mill Creek Residential Trust to add 800 apartments to the Academical Village master plan.
FCP also acquired its third Colorado asset through a $114 million joint venture with BMC Investments. The firm now has 6,870 units in its multifamily portfolio.
