FCP announced the $41.25 million acquisition, through FCP’s Housing Preservation Fund, of Cottages of Monroe (formerly Yardly Monroe), a 151-unit cottage-style apartment community in the suburb of Monroe, in Union County, near Charlotte, N.C. The one-story, detached and semi-detached cottages were purpose-built in 2024 as a rental community.
"The Cottages of Monroe investment supports our fund mandate to maintain affordability in a key growth market," said Summer Haltli, partner and co-founder at the FCP Housing Preservation strategy. "FCP's acquisition of Cottages of Monroe is driven by the opportunity to acquire a well-occupied, newly delivered, rental community in a favorable submarket at a favorable basis."
Residents at the Cottages of Monroe benefit from the opportunity to live in stand-alone, newly constructed homes in a strong school district at a discount to home ownership in the same submarket. Cottages of Monroe provides a high-quality living experience f
