FCP is providing preferred equity through its Structured Investments platform to help finance Aventon Wesley Chapel, a planned 384-unit multifamily community in Wesley Chapel, Florida. The investment brings FCP together with Aventon Companies, an established developer and operator expanding across Florida and the Southeast.
Key takeaways
FCP’s investment supports the development of a four-story apartment community in one of the Tampa region’s fastest-growing areas.
- The project will include 384 multifamily units.
- The community will be located along Meadow Pointe Boulevard.
- Aventon Companies is serving as the development and operating partner.
- The project will offer access to Interstate 75, major employers, healthcare facilities and retail destinations.
Preferred equity supports new development
FCP’s preferred equity investment is designed to provide flexible capital for the project as developers navigate a challenging financing environment. The transaction also extends FCP’s relationship with Aventon Companies after the firms previously partnered on Aventon Lana in Clearwater.
The investment reflects FCP’s focus on working with experienced sponsors and supporting residential projects in markets with strong growth potential. Preferred equity can help fill a financing gap between a project’s senior debt and common equity, allowing development plans to move forward while offering the capital provider a defined priority position.
Wesley Chapel continues to expand
Aventon Wesley Chapel will be developed along Meadow Pointe Boulevard in the rapidly expanding Wesley Chapel submarket northeast of Tampa. Its location is intended to connect residents with employment centers across the Tampa Bay region through nearby Interstate 75.
Wesley Chapel has evolved into a significant residential, healthcare and commercial center. Major nearby medical facilities include AdventHealth Wesley Chapel, BayCare Hospital Wesley Chapel and the planned Orlando Health Wiregrass Ranch Hospital. The area also features shopping, restaurants and entertainment at destinations such as The Shops at Wiregrass and Tampa Premium Outlets.
Partnership builds on FCP’s Florida strategy
The project reinforces FCP’s continued expansion in Florida, where population growth, employment development and demand for housing have created opportunities for multifamily investment. For Aventon Companies, the partnership provides additional capital to advance a new community in a strategically located Tampa-area corridor.
FCP, a subsidiary of Federated Hermes, invests in commercial and residential real estate through direct investments and partnerships with operating companies. Since its founding in 1999, the firm has invested in or financed more than $14.8 billion in gross asset value, using both discretionary funds and separate accounts focused on major U.S. real estate markets.