February 8, 2021

This was an off-market transaction and FCP assumed an existing $16.5M 10-year Fannie Mae loan that will mature in 2028. The 37-acre garden-style apartment property, comprised of five three-story buildings, was renovated by the seller, with little deferred maintenance. FCP will provide additional minor upgrades to the property’s exteriors and common area amenities, which include More

We asked: What are your predictions for the acquisition market in 2021, and how have your requirements for new acquisitions changed this year? Jason Morgan, Principal — Morgan Properties Multifamily has continued to perform well demonstrating its recession resiliency. With limited deal flow and low-interest rates, we expect cap rates to compress significantly in 2021. More