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Atlanta & Southeast  + Carolinas  + Apartments  | 
FCP has acquired Grand Arbor Reserve apartments in Raleigh, NC for $48 million.

300-Unit Residential Community in Raleigh Sells for $48M to FCP

Chevy Chase, MD-based FCP has acquired Grand Arbor Reserve, a 297-unit apartment community in Raleigh, NC for $48 million.

Howard Jenkins of CBRE represented the seller.

The property sits at 2419 Wycliff Road just blocks from I-440, Raleigh’s main thoroughfare, for connectivity to downtown Raleigh, Research Triangle Park and over 100,000 jobs in the Raleigh-Durham MSA. The property is also adjacent to the UNC Rex Hospital.

Grand Arbor Reserve’s 297 units are made up of predominantly two- and three-bedroom apartments with onsite amenities including a pool, fitness center, playground, dog park and volleyball court.

FCP has invested in or financed more than $9.3 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets and makes equity and mezzanine investments in income-producing and development properties. FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the US.


Inside The Story


About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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