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FCP Makes Fourth LI Investment with Fairfield Properties
FCP, headquartered in Chevy Chase, MD, recently closed on a preferred equity investment to facilitate Fairfield Properties’ acquisition of a residential and retail property currently known as Jefferson at Farmingdale Plaza, located in the Nassau County village of Farmingdale, NY. The 154-unit luxury mid-rise property will be rebranded as Fairfield Plaza at Farmingdale Village.
Deal terms weren’t disclosed. “We are excited to invest with Fairfield again on this newly developed, Class A community in an area with strong constraints on additional supply to the market,” said E.J. Corwin, SVP at FCP.
Jefferson at Farmingdale Plaza represents FCP’s fourth transaction with Fairfield Properties, Long Island’s largest multifamily owner and operator. This past February, FCP provided Fairfield with $100 million in the acquisition of a seven-property Long Island apartment portfolio. In August and again in September, FCP provided capital to facilitate two single-asset acquisitions in Suffolk County.
Pictured: A Fairfield property in Selden, NY.
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