Federal Capital Partners Enters Florida Market With $7.75 Million Mezzanine Financing For Development Of 289-Unit Apartment Community In Orlando, FL

Dec 18, 2015, 09:00 ET from Federal Capital Partners

CHEVY CHASE, Md., Dec. 18, 2015 /PRNewswire/ -- Federal Capital Partners® (FCP) has announced the closing of a $7.75 million mezzanine loan for the development of Ancora, a 289-unit ground up 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's first investment in Florida.

"Our investment in Ancora represents an excellent opportunity to invest with a strong, local developer with keen insight into the Orlando market," said FCP Vice President, Jason Ward. "Orlando, with the second strongest job growth in the country, and benefiting from the I-4 Corridor's vibrant, diverse economy, is a market in which we hope to continue to invest as we expand our East Coast portfolio."  

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' 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. 

"We are excited to partner with FCP on this exciting project and look forward to establishing a long-term relationship," said Salvador Leccese, President of LeCesse Development Corp.

About Federal Capital Partners
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.

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SOURCE Federal Capital Partners