September 9, 2019 Comments Off on FCP Acquires Jacksonville Apartment Community for $29M Views: 514 Florida News, North Florida, Top Florida

FCP Acquires Jacksonville Apartment Community for $29M

Order Reprints...

Privately-held real estate investment company FCP has acquired Townsend Apartments, a 396-unit garden-style apartment community in Jacksonville, for $29 million. The acquisition marks Maryland-based FCP’s first investment in the Jacksonville market and 10th investment in Florida.

The community consists of 13 buildings with a unit mix of studio, one-, two- and three-bedroom units. Community amenities include a playground, two clubhouses, two pools, tennis courts and a fitness center.

“The Townsend Apartments deal was sourced as an off-market transaction and provides FCP with a great opportunity to grow our portfolio of moderately priced apartments,” said Drew Schwartz, associate at FCP. “This community is well-located near the St. Johns River and Jacksonville University, close to downtown employment centers, and benefits from one of the strongest rental markets in the state as a result of strong job and population growth.”

Connect With FCP

Connect With FCP’s Schwartz

Connect With TerraCap

Subscribe to Connect Daily Florida
For comments, questions or concerns, please contact David Cohen

Tags: ,

Comments are closed.

Send this to a friend