The real estate investment firm FCP has acquired Arium Sunrise, a 400-unit multifamily community in Sunrise, Florida.
Built in 1998, the property has a 94% occupancy rate and offers an array of amenities including a swimming pool, clubhouse, and fitness center. FCP plans to upgrade approximately 8% (32 units) of the apartments that remain in their original condition.
The acquisition was completed in partnership with BMC Investments and The RMR Group and financed by Wells Fargo. The financial aspects of the transaction were not disclosed.
“We believe Broward County remains one of Florida’s fastest-growing regions, and our recent investments highlight our commitment to securing well-positioned assets in this key market,” said Bruce Gago, senior vice president at Chevy Chase, Maryland-headquartered FCP and head of the company’s Florida investments. “We look forward to once again partnering with BMC and collaborating with RMR with the goal of enhancing Arium Sunrise Apartments and while providing residents with a quality living experience.”
