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| Gables Court |
| Location: |
Peachtree City,GA |
| Type: |
Multi-Family |
| Description: Gables Court, built in 1988, was extensively renovated in 2005-2008. The property consists of 198 units and is located in one of the most prestigious submarkets in Atlanta, Peachtree City. Peachtree City is known for its high income level and highly-ranked school system.
This multi-family complex offers numerous amenities to its residents including: large units with an average size of 1,072 square feet, a swimming pool, fitness center, playground and picnic area, views of Flat Creek Golf Course, and direct access to Peachtree City’s extensive network of golf paths.
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| Website: |
http://www.gablescourtapts.com |
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| Merce |
| Location: |
Dallas, TX |
| Type: |
Multi-Family |
Description:
Merce is a 114 unit apartment complex in Dallas built in 1991 and renovated in 2007. As part of the renovation, the current owner installed new stainless steel appliances, cabinets and counters in the unit interiors. The property is located directly in the heart of the North Dallas Platinum Corridor and is located right at an entrance to the Dallas North Tollway, giving it convenient access to most major points in Dallas. The North Dallas Platinum Corridor contains over 200,000 jobs and over 15 million square feet of office space. The property is located in the heart of North Dallas, the wealthiest part of the Dallas MSA.
FortCap purchased this property in a joint venture with a pension fund advisor. |
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| The Beckanna on Glenwood |
| Location: |
Raleigh, NC |
| Type: |
Multi-Family |
Description:
The Beckanna on Glenwood is an iconic 254-unit high-rise apartment complex located in one of the best locations in the Raleigh MSA. Built in 1963 but extensively renovated in 2006-2007, the property offers its residents immediate access to Raleigh’s major thoroughfares: Glenwood Avenue, I-40, I-440, and I-540. The location is convenient to the main demand generators for jobs in the market which are the Research Triangle Park, Weston Parkway and downtown Raleigh. Two of the area’s highest end retail destinations, Crabtree Valley Mall and North Hills, are within a 5 minute drive. The high end nature of the area is further reinforced by the fact that the average annual household income within a one-mile radius is over $110,000 and the median housing value is nearly $400,000.
FortCap purchased this property in a joint venture with a pension fund advisor. |
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| The Park |
| Location: |
Cary, NC |
| Type: |
Multi-Family |
Description:
Built in 1995 and consisting of 180 units, The Park is located in Cary, North Carolina, a prestigious high-end suburb of Raleigh, North Carolina. The area surrounding The Park boasts some of the strongest demographics in North Carolina with an average income of $128,624 within 1-mile of the property.
Located less than a ¼ mile from US Highway I-64, The Park enjoys excellent local and regional accessibility. The Park offers numerous amenities to its residents including: 9 and 10 foot ceilings, 48 parking garages, storage units, a 2-mile lakeside walking trail, fitness center, business center, lighted tennis court, washer and dryer connections in the units, car care center, complimentary weekday club breakfast, and valet dry cleaning and concierge service. |
| Website: |
http://www.theparkapts.com |
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| Reafield Village |
| Location: |
Charlotte, NC |
| Type: |
Multi-Family |
Description:
Built in two phases from 1986 to 1988, Reafield Village consists of 324 apartments and is located in South Charlotte, a prestigious section of Charlotte, North Carolina. The high-end nature of the surrounding area is reflected by an average family income of $140,000 within three miles of the property. With a high profile location at a signaled intersection of NC Highway 51, Reafield enjoys drive-by visibility of approximately 35,000 cars per day.
Reafield Village offers numerous amenities to its residents including: two clubhouses, two swimming pools, an indoor pool, fitness center, playground, tennis court, several picnic areas, tiled entries, and wood burning fireplaces. |
| Website: |
http://www.reafieldvillageapts.com/ |
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| The Preserve at Woods Lake |
| Location: |
Greenville, SC |
| Type: |
Multi-Family |
Description:
Built in 1997, The Preserve at Woods Lake consists of 232 units and is located in the prestigious northeast area of Greenville, SC. Situated within ¼ mile from I-385 and 3 miles from the interchange of I-85 and I-385 in the heart of Haywood Road retail corridor, The Preserve offers its residents convenience to a wide selection of shopping and dining options and access to major employers. The property began an interior renovation program in 2007 which should be completed by 2009.
The Preserve offers numerous amenities to its residents including: 42 parking garages, a 3,500 square foot clubhouse, fitness center, fully stocked lake for fishing, business center, baby grand piano in the clubhouse, media room, swimming pool with a large sundeck, tennis courts, laundry room, and car wash area. |
| Website: |
http://www.preserveatwoodslake.com |
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| Greenbrier Business Center |
| Location: |
Chesapeake, VA |
| Type: |
Industrial/Flex |
Description:
The Greenbrier Business Center is located on Executive Boulevard in the heart of Greenbrier Executive Park. The Business Center consists of 3 buildings with 93,740 feet of flex space on a 5 acre parcel.
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| City Centre |
| Location: |
Norfolk, VA |
| Type: |
Office |
Description:
City Centre is a 52,964 square foot office building built in 1987 and located in the heart of downtown Norfolk, Virginia. In 2007/2008, City Centre was interiorly renovated. The property is situated at the intersection of City Hall Avenue and Monticello Avenue adjacent to MacArthur Center, a 1.2 million square foot urban mall.
In early 1997, downtown Norfolk embarked on a massive revitalization to create a vibrant community where locals and tourists could live and play. Today, downtown Norfolk has been transformed into a diverse entertainment district with a broad array of dining establishments, nightclubs and music venues. In addition to office and retail sectors, the revitalization of downtown Norfolk has created a demand for urban housing options.
City Centre has a dynamic and central location in downtown Norfolk contributing to its history of nearly full occupancy. As downtown Norfolk continues to grow, City Centre will benefit from being in the heart of the revitalized city. |
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| Provence North |
| Location: |
Sandy Springs, GA |
| Type: |
Multi-Family |
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Description: Provence North, constructed in 1969, is a recently renovated 112 unit “boutique” community. Approximately 30% of Provence North units are townhouses, which have the largest size in the Roswell Road corridor. Provence North fronts Roswell Road, just south of Abernathy Road. Roswell Road provides direct access to I-285 and quick commutes to Atlanta’s most dynamic employment hubs. Surrounding neighborhoods range from $300,000 to $5M+ and the average household income is $140,000. In addition, Provence North is just south of the proposed 20-acre Abernathy Greenway Linear Park which will offer numerous recreation options.
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| The Clarion |
| Location: |
Decatur, GA (Atlanta MSA) |
| Type: |
Multi-Family |
Description:
The Clarion, a 217-unit apartment property, is located in the highly desirable downtown Decatur submarket of Atlanta, Georgia. Built in 1990, the Property is well positioned in an excellent infill location near major business districts and institutions of higher education. The Clarion is also within a large medical employment corridor, located less than one mile from Dekalb Medical Center and nearby many other medical institutions. The Clarion’s convenient in-town location is highly visible directly off of Dekalb Industrial Way, approximately 1.5 miles inside I-285. The Property is situated only fifteen minutes from downtown and midtown Atlanta, and 5 miles from Buckhead. The Clarion is situated within an affluent infill neighborhood, and represents a lower-cost rental alternative in a preferable location.
The Clarion offers its residents a wide variety of community amenities including a large clubhouse, garage parking, fitness center, laundry facility, outdoor barbecue grill and picnic area, swimming pool, racquetball court, tennis court, and car care center.
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| Website: |
www.clarionapts.com |
| Magnolia at Whitlock |
| Location: |
Marietta, GA (Atlanta MSA) |
| Type: |
Multi-Family |
Description:
The 152-unit Magnolia at Whitlock apartment community is located in an affluent section of Marietta, Georgia. The property was built in 1971 and all units were extensively renovated in 2002 and 2003 with new faux granite countertops, cabinets, brushed nickel hardware, upgraded lighting package, and new carpet and vinyl. Located three miles west of Interstate 75 (291,460 vehicles per day), and just five miles north of the Interstate 75/Interstate 285 intersection, Magnolia at Whitlock offers short, direct commutes to the entire Atlanta MSA. The property is prominently placed by two booming employment districts, Cobb Platinum Triangle/ Vinings to the South and Barrett Parkway/Kennesaw/Town Center to the North. Magnolia at Whitlock is advantageously positioned as the value provider in a first-class location.
Magnolia at Whitlock boasts an amenity package characteristic of a larger property which includes clubhouse/leasing office, swimming pool, playground, picnic areas with grills, laundry facility, and fitness center. Residents also enjoy pedestrian access to the 2,888-acre Kennesaw Mountain Battlefield National Park with walking and hiking trails and historic exhibits.
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| Website: |
www.magnoliawhitlock.com |
| Autumn River |
| Location: |
Raleigh, NC |
| Type: |
Multi-Family |
Description:
Autumn River is a 284-unit garden-style apartment community situated in northern Raleigh, North Carolina. Built in 2001, the Property is well positioned in an excellent infill location surrounded by a number of employers and an abundance of newly constructed commercial amenities. The new 80,000 square foot WakeMed North Healthplex is adjacent to Autumn River and directly across the street from the Property is the new 194,000 square foot Falls Pointe Shopping Center, anchored by Harris Teeter food market and Kohl’s department store. Located just south of Falls of Neuse Lake in Raleigh, NC, Autumn River apartments offers easy access to I-540, I-40, and the Raleigh-Durham International Airport. The Property is located in the acclaimed Triangle area of Raleigh, North Carolina, known for its growing economy, world-class universities, and strong demographics.
With an average unit size of 1,109 square feet, Autumn River offers large units with well-designed, spacious floor plans. Each unit is equipped with top-quality features including but not limited to: 9 foot ceilings, crown molding, and full-size washer and dryer connections. Residents are offered a full package of community amenities including: laundry facility, business center, picnic areas, car care centers, resort-style swimming pools, sand volleyball, and fitness center.
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| Website: |
www.autumnriverapts.com |
| Governor’s Ridge |
| Location: |
Marietta, GA (Atlanta MSA) |
| Type: |
Office |
Description:
Built in 1983, Governor’s Ridge Building #5 is a 100% occupied, single-tenant office building located in the Governor’s Ridge Office Park in Marietta, GA. All of the buildings located in the Governor’s Ridge Office Park are built in the classic “Williamsburg” style within the beautifully landscaped, well-maintained office development. Building #5 totals 19,477 rentable square feet, and is surrounded by some of Atlanta’s wealthiest and most renowned neighborhoods. Located just outside Atlanta’s Perimeter highway, I-285 and minutes from I-75, Governor’s Ridge is convenient and accessible from all areas of Atlanta.
The building currently serves as the headquarters location for CED Solutions, the leading Microsoft Partner in the computer training field. The company has occupied the building since 1996, and has improved the asset with training facilities, an employee exercise facility, corporate offices, and employee/student break areas. |
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| Creatwood Corners |
| Location: |
Smyrna, GA (Atlanta MSA) |
| Type: |
Retail |
Description:
Creatwood Corners is a 10,880 square foot class “A” retail building located in Smyrna, GA. The property was constructed in 2008 and has eight tenant spaces. Smyrna is one of the closest suburbs to Atlanta, located near the northern intersection of I-285 and I-75. The property is located in a desirable high-end neighborhood of northwest metropolitan Atlanta and has been expanding over the past decade. Creatwood Corners has great access and visibility from the roadway and is conveniently located with respect to employment centers. The property is in a great commercial and residential area which features a variety of amenities for local residents and businesses.
Creatwood Corners was acquired through the purchase of a loan portfolio, consisting of three sub-performing notes. The loan portfolio was purchased from the FDIC in the first quarter of 2009.
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| Clifton Place |
| Location: |
Atlanta, GA |
| Type: |
Mixed-Use |
Description:
Clifton Place is a 10,827 square foot class “A” retail building located in Atlanta, GA. Completed in 2008, the property consists of five residential units atop two retail shops. The ground level retail space consists of 4,627 square feet and the five second story residential units consist of 6,200 square feet. The property is located in the central portion of metropolitan Atlanta within Dekalb County and near the Little Five Points District of Atlanta. The district is widely known as one of the most unique commercial districts in Atlanta, with a rich and varied history. The neighborhood, Chandler Park, is best described as very cultured, and is developed with a wide mix of residential, commercial, and industrial use. The property is located along a primary traffic corridor within the neighborhood with good access and exposure.
Clifton Place was acquired through the purchase of a loan portfolio, consisting of three sub-performing notes. The loan portfolio was purchased from the FDIC in the first quarter of 2009.
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| Preston Trails |
| Location: |
Chesapeake and Portsmouth, VA (Norfolk-Virginia Beach MSA) |
| Type: |
Multifamily |
Description:
Preston Trails is a 404 unit apartment complex located in Chesapeake and Portsmouth in the well-regarded Churchland/Western Branch area. Built in several phases from 1968 to 1973, the property was extensively renovated in 2007. The property is located in one of the more desirable and established neighborhoods in Chesapeake and Portsmouth with its easy access to I-664, the Western Freeway, and I-264. The area contains a mix of workforce housing, established middle income neighborhoods, and several high end communities located along the deep water shores of the Elizabeth River. With its proximity to Newport News, northern Suffolk, downtown Norfolk, and downtown Portsmouth, residents of the Churchland/Western Branch area enjoy great access to many key employment drivers.
FortCap Partners purchased this property from a bank that had foreclosed on the previous owner. The business plan for this asset includes implementing hands-on local asset management and property management and a meaningful capital upgrade program to reposition the asset within its submarket.
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| The Park at Fox Trails |
| Location: |
Plano, TX (Dallas MSA) |
| Type: |
Multifamily |
Description:
The Park at Fox Trails is a 286 unit apartment complex located in Plano and built in 1981. The previous owner, a very large financial institution, renovated the property with new flooring and appliance and hardware upgrades. The property is situated in the Plano submarket in North Dallas. This part of town is generally characterized by its affluent resident profile, high end housing and retailers, excellent school systems, and a heavy concentration of employment drivers. It is the wealthiest part of Dallas and in 2008 the United States Census Bureau declared Plano the wealthiest city in the United States with a population over 250,000 with a median household income of $84,492. The property is also located near the 190 Corridor with over 100,000 jobs, 30 million square feet of office space and 5 million square feet of retail and Legacy Business Park with over 80,000 jobs and over 10 million square feet of office space.
FortCap purchased this property in a joint venture with a pension fund advisor.
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| Terrace at River Oaks |
| Location: |
San Antonio, TX |
| Type: |
Multifamily |
Description:
Terrace at River Oaks is a 314 unit apartment complex built in 1982 located in the highly desirable Colonnade area of northwest San Antonio. With 201 townhome units, the property offers very attractive floorplans for residents. The property’s location along Vance Jackson Road allows its residents easy access to two major thoroughfares, Wurzbach and Huebner Roads, along with San Antonio’s major freeways including IH-10, Loop 410 and Loop 1604. Colonnade, a development with numerous retail boutiques and over 300,000 square feet of office space, is one mile away. USAA’s 286-acre corporate campus with over 15,000 jobs, is located two miles away. San Antonio’s Medical Center District is also located two miles away. The Medical Center is home to 45 medical related institutions with about 28,000 jobs. There are also an additional 29,000 non-medical jobs within the Medical Center. The estimated amount of outpatient visits in the Medical Center is 5.4 million in 2010. More than $1 billion worth of new expansion projects are slated to be started or planned through 2017. Finally, the property is located within 10 minutes from The University of Texas-San Antonio, a school with an enrollment of more than 30,000 students. The University has experienced a 40% increase in enrollment over the last decade.
FortCap purchased this property in a joint venture with a pension fund advisor.
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| Properties |
 |
Preston Trails
Chesapeake and Portsmouth, VA (Norfolk-Virginia Beach MSA) |
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City Centre
Norfolk, VA |
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Greenbrier Business Center
Chesapeake, VA
(Norfolk-Virginia Beach MSA) |
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The Park at Fox Trails
Plano, TX (Dallas MSA) |
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Merce
Dallas, TX |
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Terrace at River Oaks
San Antonio, TX |
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The Beckanna on Glenwood
Raleigh, NC |
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The Park
Cary, NC
(Raleigh MSA) |
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Reafield Village
Charlotte, NC |
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The Preserve at Woods Lake
Greenville, SC |
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The Clarion
Decatur, GA
(Atlanta MSA) |
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Gables Court
Peachtree City, GA
(Atlanta MSA) |
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Magnolia at Whitlock
Marietta, GA
(Atlanta MSA) |
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Clifton Place
Atlanta, GA |
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Creatwood Corners
Smyrna, GA
(Atlanta MSA) |
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Governor’s Ridge
Marietta, GA
(Atlanta MSA) |
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