FCP, a Maryland-based privately held real estate investment company, has closed its $1.188 billion FCP Realty Fund V, along with seven investments through the vehicle located in Texas, Georgia and New York.
Fund V was oversubscribed within four months from first close to final close.
The vehicle is targeting multifamily and commercial property opportunities throughout the United States. When fully invested, Fund V is expected to accommodate some $4 billion of total investment capacity.
“FCP will continue to focus on moderate income, class B and C apartment sectors that have proven durability of cash flow through all economic cycles,” said Esko Korhonen, co-founder and managing partner of FCP. “The remainder of the portfolio is targeted to include alpha-generating investments in multifamily development and value-add commercial office focusing on adaptive reuse and creative office, which shows great promise as office uses continue to evolve post pandemic.”
