FortCap Recapitalizes a Three-Property, 567-Unit Portfolio with a Diverse Investor Mix
Cushman & Wakefield’s Atlanta Equity, Debt & Structured Finance Group has arranged a joint venture equity recapitalization for a three-property, 567-unit FortCap Partners’ multifamily portfolio in Atlanta, consisting of The Clarion Apartments in Decatur, Gables Apartments in Peachtree City and Magnolia at Whitlock in Marietta.
Cushman & Wakefield’s Mike Ryan, Telly Fathaly, Jeff Walker, and Brian Linnihan represented FortCap Partners. The portfolio includes 567 units, with an average vintage of 1983. The Cushman & Wakefield team secured a mix of domestic and international private equity to complete the recapitalization of the assets. Federal Capital Partners of Chevy Chase, MD, provided equity for The Clarion and Magnolia at Whitlock and Brightman-Gil Investment Management of Tel Aviv provided equity for Gables Apartments.
“We received offers from several distinct capital partners for various portions of the portfolio,” said Ryan, Senior Managing Director in Cushman & Wakefield’s Equity, Debt & Structured Finance Group. “We worked with FortCap to assess the benefits of the individual and combined proposals and ultimately settled on a blended execution to maximize valuation, further the value-add business plan and satisfy FortCap’s strategic growth initiatives.”
About FortCap Partners
FortCap Partners is a Virginia Beach-based real estate investment firm founded in 2004. FortCap Partners (FCP) was created to invest in extremely well located, high-quality real estate with excellent intrinsic value with the goal of creating and preserving the wealth of its investors. FCP utilizes the extensive transactional experience and market knowledge of its principals to opportunistically invest in real estate and operate assets to their full potential.
FortCap is an active investor of core quality and value-added assets throughout the Mid-Atlantic and Southeastern United States.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
