Federal Capital Partners® (FCP) has announced that it will provide mezzanine financing for the development of Foundry Point, a 275-unit, Class A apartment community at 107 Brigade Street in Charleston, SC. Construction will begin in July.
“FCP is pleased to be part of this exciting project with White Point Partners and a strong, local development partner in Middle Street Partners,” said FCP SVP Bryan Kane. “Foundry Point is extremely well-located in a fast-growing and popular neighborhood, NoMo. Quickly becoming a hub for foodies and tech companies, the area offers residents of Foundry Point a Charleston lifestyle with a new and contemporary vibe.”
Foundry Point will feature a mix of spacious studios, one, two and three bedroom apartments in five buildings. Amenities will feature a coffee bar, game room with kitchen/bar, a 1,500 square foot gym and yoga room, business center, conference room, and an outdoor rooftop deck and pool. The property will be within a fiveminute walk to numerous restaurants and offices and a short car or bike ride to the heart of downtown Charleston.
FCP extends its appreciation to Ken Grimes of Patterson Real Estate Advisory for his representation of Middle Street Partners.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $5.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets in the Eastern United States. For further information on FCP, please visit www.fcpdc.com
About Middle Street Partners
Headquartered in Charleston, SC, Middle Street Partners, LLC (MSP) is a real estate investment and development company, with a focus on multifamily acquisitions and development in the Southeastern US. Since inception in 2009, the Company has sponsored the acquisition and/or development of approximately $970 million of multifamily property, representing over 9,200 apartment units in 34 communities.
About White Point Partners
White Point Partners is a private investment firm specializing in the acquisition, development and repositioning of real estate assets throughout the southern U.S. We target investment opportunities in markets that exhibit compelling population and economic growth dynamics. Since 2014, our team of experienced investment professionals has invested in over $400 million of commercial, multifamily and self storage assets on behalf of high net worth and family office investors. Our approach to investing is governed by integrity, and we believe that it is instrumental to success – both our own and that of our partners.