FCP Secures $16.7 Million for Royal Palm at Nona Development in Orlando

In a significant move to bolster residential development, FCP® has completed a preferred equity investment totaling $16.7 million. This fund will finance the construction of Royal Palm at Nona, positioned as a 320-unit, Class A multifamily project adjacent to Lake Nona in Orlando, Florida. The investment underscores FCP's commitment to high-quality developments in regions poised for growth.

The Royal Palm at Nona project, located at 14630 New Creek Avenue, is being developed by Royal Palm Companies, a prominent player in the real estate market known for success in delivering top-tier residential communities. Bruce Gago, who manages FCP's operations in Florida, emphasized the importance of Lake Nona as a burgeoning area ripe for investment. He stated, "FCP is actively deploying capital to support high-quality developments in growth-oriented markets, and Lake Nona is a prime example of the type of submarket where we see long-term opportunity."

Billy Herbert, another key player within FCP's development team, highlighted the project's strategic location. Royal Palm at Nona will feature modern amenities in one of Orlando’s most dynamic submarkets. Its close proximity to the Central Florida Greenway, Florida's Turnpike, and Orlando International Airport will cater to the increasing demand driven by the area's thriving health and life sciences industries, which are anchored by the prestigious Medical City master-planned district.

Dan Kodsi, CEO of Royal Palm Companies, shared his vision for the project. He stated, "With Royal Palm at Nona, we are setting a new standard for luxury living in one of Orlando's most dynamic and innovative communities. This project represents our commitment to creating high-quality, thoughtfully designed spaces that elevate the lifestyle of our residents while fostering community growth and enhancing the surrounding area."

Kodsi further elaborated that the design strategy integrates luxury with sustainable living, aiming to provide an exceptional experience for residents while also benefiting the Lake Nona region. He has made it clear that this development seeks to establish a new benchmark for elevated living in the area.

FCP and Royal Palm Companies extend their gratitude to Patrick Dufour and Scott Ramey of Newmark Florida for their integral role in arranging this transaction.

About FCP

FCP® is a privately held real estate investment firm that, since its establishment in 1999, has invested in or financed over $13.1 billion in real assets. Headquartered in Chevy Chase, Maryland, FCP engages quite strategically in various markets within the United States, making both equity and mezzanine investments in commercial and residential properties.

About Royal Palm Companies

Founded in the 1970s, Royal Palm Companies (RPC) is a leading real estate development firm with over 40 years of experience in transforming suburban and urban landscapes. During its tenure, RPC has developed a remarkable portfolio that exceeds 9,500 units across diverse projects, which collectively hold an estimated asset value over $4.7 billion. Under the leadership of Daniel Kodsi, RPC has built a reputation characterized by innovation, quality, and a commitment to sustainability.

Overall, the development of Royal Palm at Nona represents not only a significant investment in Orlando's real estate landscape but also reinforces the region's ongoing transformation into a hub for modern living and growth.