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Fcp Announces $25 Million Acquisition Of Modera Academical Village Multifamily Development Site Supporting 793 Apartment Units In Broward County, Fl

Jul 13, 2022•over 3 years ago

Acquiring Company

FCP

Acquired Company

MODERA VILLAGE MULTIFAMILY DEVELOPMENT SITE

Other

Description

FCP® and joint venture partner Mill Creek Residential Trust (Mill Creek) announce the $25 million acquisition of the Modera Academical Village development site within the Academical Village master plan and adjacent to Nova Southeastern University mega-campus in Broward County, FL. Phase I of the development will break ground immediately and will include a 397-unit, eight-story apartment community at 3440 SW 76th Terrace with 9,000 square feet of ground floor retail. The acquisition includes a second phase of development with an additional 396 units.

Company Information

Company

FCP

About

FCP® is a privately held real estate investment company that has invested in or financed more than $9.3 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com. Media Contact: Karen Widmayer KW Communications, LLC karenwidmayerpr@gmail.com 301-661-1448 SOURCE FCP

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed