FCP has announced its first equity multifamily acquisition in the Denver market with the joint venture recapitalization with BMC of Ivy Crossing, a 1,023-unit apartment community at 2320 S. Quebec St.
“FCP is excited to partner with BMC, an experienced Colorado multifamily owner and operator, as we continue to expand our investment profile in the Western U.S. regions,” said FCP’s Bart Hurlbut. “Our business plan at Ivy Crossing will include building on BMC’s achievements to date with a $23 million capital and interior renovation program designed to improve the property and its attractiveness within its competitive set.”
Jeff Stonger, Chief Investment Officer of BMC Investments, said, “We recognize the need for affordable workforce housing options in the Denver metro area and we feel it is our responsibility to create these environments for our residents and help better the neighborhoods in which we invest. This partnership with FCP furthers that commit
