Federal Capital Partners\u00ae (FCP) has announced the closing of a $7.75 million mezzanine loan for the development of Ancora, a 289-unit ground up multifamily development on International Drive in Orlando, FL. The project is being developed by LeCesse Development Corp., a leading developer of multifamily properties in Florida and throughout the East Coast, with Wells Fargo providing senior construction financing. Ancora is FCP\u2019s first investment in Florida.<\/p>\n
\u201cOur investment in Ancora represents an excellent opportunity to invest with a strong, local developer with keen insight into the Orlando market,\u201d said FCP Vice President, Jason Ward. \u201cOrlando, with the second strongest job growth in the country, and benefiting from the I-4 Corridor\u2019s vibrant, diverse economy, is a market in which we hope to continue to invest as we expand our East Coast portfolio.\u201d<\/p>\n
In addition to its ideal location along International Drive, Ancora will be distinguished by its attention to detail and luxury finishes throughout the property. Finishes will include imported Italian cabinetry with granite countertops, 10\u2019 ceilings in top floor residences, walk-in closets, energy efficient appliances and additional premium upgrades throughout select units. Residents will enjoy an amenity package that includes a resort-style saltwater pool along with an upscale poolside cabana and outdoor kitchen\/dining area.<\/p>\n
\u201dWe are excited to partner with FCP on this exciting project and look forward to establishing a longterm relationship,\u201d said Salvador Leccese, President of LeCesse Development Corp.<\/p>\n
<\/p>\n
About Federal Capital Partners<\/strong><\/p>\n Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $4.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets on the East Coast of the United States. For further information on FCP, please visit www.fcpdc.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Federal Capital Partners\u00ae (FCP) has announced the closing of a $7.75 million mezzanine loan for the development of Ancora, a 289-unit ground up multifamily development on International Drive in Orlando, FL. The project is being developed by LeCesse Development Corp., … Continue reading