FCP is providing preferred equity through its Structured Investments platform for Aventon Wesley Chapel, a planned 384-unit multifamily community in Wesley Chapel, Florida. The investment expands FCP’s relationship with Aventon Companies and supports new housing in one of the Tampa metropolitan area’s fastest-growing submarkets.
Key takeaways
- FCP is supplying preferred equity for the development of Aventon Wesley Chapel.
- The four-story community will include 384 multifamily units.
- The project is planned along Meadow Pointe Boulevard in Wesley Chapel.
- FCP is partnering with Aventon Companies, an experienced developer and operator.
- The investment builds on the firms’ previous partnership in Clearwater.
Project planned for a high-growth Tampa corridor
Aventon Wesley Chapel will be developed in a rapidly expanding residential and employment corridor northeast of Tampa. Its location along Meadow Pointe Boulevard is expected to provide residents with access to Interstate 75 and connections to major job centers throughout the Tampa Bay region.
The project will add rental housing to a market that has attracted substantial residential, commercial and infrastructure investment. Wesley Chapel’s growth has helped establish the community as an increasingly important part of the broader Tampa metropolitan area.
Access to healthcare, retail and employment centers
The development will be positioned near major healthcare providers, including AdventHealth Wesley Chapel and BayCare Hospital Wesley Chapel. The planned Orlando Health Wiregrass Ranch Hospital is also expected to further strengthen the area’s healthcare infrastructure.
Residents will have access to nearby shopping, dining and entertainment at destinations such as The Shops at Wiregrass and Tampa Premium Outlets. These amenities, combined with proximity to employment centers, are key features supporting the project’s location strategy.
FCP expands partnership with Aventon
Bruce Gago, who leads FCP’s Florida office, said the investment reflects the firm’s focus on experienced sponsors, well-located sites and structured investments that can support housing development. The partnership follows FCP’s recent collaboration with Aventon Companies on Aventon Lana in Clearwater.
For Aventon, the project adds to its growing presence across Florida and the Southeast. The company is serving as both developer and operator, bringing experience in multifamily development and property management to the venture.
Preferred equity offers flexible development capital
FCP’s investment was made through its Structured Investments platform, which provides equity and other tailored capital solutions for real estate owners and developers. Preferred equity can help supplement a project’s capital stack while giving developers flexibility in an environment marked by elevated construction costs, interest rates and financing constraints.
The transaction also reflects FCP’s broader expansion in Florida. The real estate investment company, a subsidiary of Federated Hermes, has invested in or financed more than $14.8 billion in gross asset value since its founding in 1999, across commercial, residential and development properties.
Sources
- Aventon Wesley Chapel, Yield PRO.