Florida & Gulf Coast + Gulf Coast + Finance | December 14, 2020

FCP Provides $8M in Preferred Equity for Destin MF Project

Privately-held real estate investment company FCP has provided $8.4 million in preferred equity financing to Arris Holdings for the development of Arris Destin, a 192-unit apartment community in Destin.

The investment marks FCP’s 13th in Florida and its first in the Florida panhandle. The firm’s previous investments have been in Orlando, Tampa, Jacksonville and Southeast Florida. Arris is a leader in modular construction, utilizing state-of-the-art technologies that provide faster, safer and more durable assembly for apartment buildings with less disruption to the environment.

“FCP is excited to work with Arris on this exciting investment utilizing modular construction, which has the potential to make a real impact to more efficiently and quickly deliver high quality apartments and minimize waste,” said William Herbert, vice president at FCP. “This is the second time we’ve worked with the Arris team on a multifamily development and we look forward to continued opportunities with them.”

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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