#United States #FCP #Pooler #Mosaic Pooler #Bank OZK

FCP Secures Major Investment in Multifamily Development

FCP, a prominent real estate investment firm, has successfully closed a preferred equity investment totaling $13.25 million aimed at funding the Mosaic Pooler project, a 333-unit multifamily development located in Pooler, Georgia. This initiative highlights FCP's commitment to expanding its footprint in one of the most dynamic real estate markets in the Southeast.

Investment Overview

The investment is facilitated through FCP’s Structured Investments platform, which focuses on financing development projects that are both innovative and beneficial to communities. The Mosaic Pooler project is positioned on Old Quacco Road, strategically located in the rapidly growing Savannah submarket.

FCP's Senior Vice President, Alex Cathcart, expressed enthusiasm about this investment, stating, "FCP is excited to invest in Mosaic Pooler, a high-quality multifamily development in one of the top Southeast submarkets." This development not only broadens FCP's presence in Georgia but also aims to capitalize on the robust demand for suburban housing in the Savannah metropolitan area.

The partnership with Bayline Development, the firm responsible for bringing the Mosaic Pooler project to life, is especially notable. Bayline's track record within the region speaks volumes about their expertise and understanding of the local market dynamics. Billy Herbert, a key member of FCP's development team, emphasized the necessity of the project in addressing the increasing demand for market-rate housing in the area.

"We are thrilled to be working alongside Bayline Development, who possesses extensive ownership experience in this market,” said Herbert. “Additionally, our partnership with Bank OZK, a leading construction lender, ensures we have robust financial backing to execute this project successfully.”

Community Impact

The Mosaic Pooler project is part of a larger mixed-use community, known as Mosaic Town Center. This master-planned development is designed with walkable amenities, promoting a lifestyle that blends residential living with easy access to shopping, dining, and recreational activities. The project aims to not only add to the housing stock but also enhance the overall quality of life for residents in the area.

The strategic location of Mosaic Pooler offers residents convenience and connectivity, appealing not only to potential renters but also contributing to the community's growth and vibrancy.

The historical growth rates of Pooler and the surrounding areas further reinforce the potential success of the project, indicating a strong demand for quality residential options in this thriving market.

Acknowledgments

FCP extends its gratitude to Scott Wadler and Jake Adoni from Berkadia Florida for their pivotal roles in arranging this significant investment. Their expertise helped streamline the transaction process and secure favorable terms for all parties involved.

About FCP

Founded in 1999, FCP has established itself as a key player in the real estate investment landscape, having invested or financed over $14.6 billion in gross asset value. Based in Chevy Chase, Maryland, the company focuses on both commercial and residential properties, utilizing both commingled discretionary funds and separate accounts tailored to target major U.S. real estate markets.

For additional information about FCP and its projects, visit fcpdc.com.

About Bank OZK

Bank OZK is recognized as a leading construction lender throughout the nation, having provided approximately $40.42 billion in new loans over the past five years. They specialize in financing a variety of real estate projects including multifamily housing, commercial spaces, and more. For further details, visit ozk.com.

This investment in Mosaic Pooler represents a significant step forward in fulfilling the housing needs of the community while also highlighting the commitment of FCP to fostering sustainable developments that positively impact neighborhoods.