FCP Acquires 574-Unit MF in Charlotte for $60M

Maryland-based FCPSM acquired the Reserve at Providence, a 574-unit, garden and townhome-style apartment community in Charlotte, NC, from an unnamed California entity for $60.8 million. The property is located at 5931 Providence Rd., near Providence and Old Providence roads.

FCP’s Alex Cathcart says, “The community will benefit from our programmatic management and site improvements, increasing the appeal to its current and future residents.” The Reserve at Providence represents FCP’s fifth investment in the Charlotte area.

The 1980’s-era property features one, two, three and four-bedroom apartments and townhomes, making it well-suited to families. FCP plans to build a new clubhouse and leasing center, and invest in capital improvements to the existing site, buildings, and amenity areas.

Cushman & Wakefield’s Michael Ryan provided debt advisory services to FCP, and Cushman & Wakefield’s Marc Robinson represented the seller in the transaction.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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FCP Acquires 574-Unit MF in Charlotte for $60M

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