FCP ANNOUNCES $28.2 MILLION SALE OF STEWART'S MILL APARTMENTS IN DOUGLASVILLE, GA

CHEVY CHASE, Md., Dec. 20, 2023 /PRNewswire/ -- FCP_® announces the sale of Stewart's Mill Apartments in the West Atlanta suburb of Douglasville, GA to Viking Capital for $28.2 million. The 188-unit apartment community was acquired by FCP in March 2020 in a portfolio acquisition along with two other Atlanta apartment communities.

"FCP is pleased to have completed the successful execution of our business plan at Stewart's Mill, providing the property with numerous capital improvements and amenity upgrades to improve the resident experience," said FCP's Michael Errichetti. "We appreciate the smooth transaction process with Viking Capital and are confident they will be an excellent steward of the property."

Stewart's Mill is located at 3421 Stewart Mill Road in Douglasville, less than one mile from the I-20/Fairburn Road interchange and convenient to major Atlanta job corridors along with retail centers, restaurants, and recreational activities.

FCP extends its appreciation to Nathan Swenson, Wesley Kenney, Brooks Colquitt, and Robert Yates of Cushman & Wakefield Southeast Multifamily Advisory Group for their representation of the seller.

About FCP
FCP_® is a privately held real estate investment company that has invested in or financed more than $12.4 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.

SOURCE FCP