FCP® has its third Colorado multifamily acquisition in less than two months with the $114 million joint venture recapitalization with BMC of Aurora Meadows, a 461-unit apartment community at 777 Dillon Way in Aurora, Colo.
With the Aurora Meadows investment, FCP’s Colorado multifamily portfolio includes three apartment communities with a total of 1,736 units.
“Expanding our portfolio in Colorado with BMC strengthens our market position alongside an existing partner,” said FCP’s Bart Hurlbut. “Together we will oversee a $12 million renovation plan for the property, modernizing units and common areas and improving several amenities.”
“We are excited to add another investment to the growing relationship with FCP,” said Jeff Stonger, CIO of BMC Investments. “This partnership with FCP is very synergistic and allows both groups to grow and scale across new markets and strategies together. BMC is highly focused on delivering high-qua
