FCP raises $396m for third fund
Federal Capital Partners has raised $396.15 million for its third fund, according to an SEC filing. FCP Realty Fund III, which launched earlier this year, has a $550 million fundraising target.
The fund’s predecessor, FCP Realty Fund II, closed in 2012 with $529.2 million. The fund invests in multifamily, office, retail and industrial properties in the mid-Atlantic region. To date, Fund II has acquired 6,926 multifamily units, 667,005 square feet of office space, 1,022 self-storage units and 790 student housing units, according to FCP’s website.