Florida Capital Partners finances Florida Development
ederal Capital Partners (FCP), a privately held real estate investment company that provides equity, preferred equity and structured debt investments for commercial and residential real estate, entered the Florida market last month with the closing a $7.75 million mezzanine loan to LeCesse Development Corp., for the development of Ancora, a 289 unit luxury condo project on International Drive in Orlando. Wells Fargo provided construction financing. This project is the first investment in Florida by FCP.
“Orlando, with the second-strongest job growth in the country, and benefiting from the I-4 Corridor’s vibrant, diverse economy, is a market in which we hope to continue to invest as we expand our East Coast portfolio.” said FCP vice president Jason Ward. Based in Maryland, Financial Capital Partners has started investing its third investment fund, a commingled, discretionary fund aimed at real estate markets on the East Coast. Florida Capital Partners owns and manages in excess of $2.3 billion in assets.
For information on financing for commercial projects in the St. Pete Beach/Clearwater Beach area, or assistance locating sites along the coast for your next development, contact Tracee Jones of Suncoast Commercial Investments at 727-224-8333.