CHARLOTTE, NC — FCP and partner Terwilliger Pappas Multi Family Partners (TPMP) announce two separate transactions totaling $128.6 million. The first, Solis Waverly, was sold for $84.4 million to Dallas-based Lan Properties/Lantower Residential. In a separate transaction, Solis Ballantyne was sold for $44.2 million to Continental Realty Corporation of Baltimore, MD.
“FCP felt fortunate to develop these properties with Terwilliger Pappas, the Southeast’s top developer of best in class multifamily communities,” said FCP managing partner, Lacy Rice. “Both communities set a high standard, contributing to the success of their distinctive neighborhoods.”
“Solis Waverly and Solis Ballantyne provided an excellent opportunity to partner with FCP on two of the Southeast’s most desirable sites,” said CEO of Terwilliger Pappas, Peter Pappas. “Our team’s interest in developing best in class communities aligns well with FCP’s strategy of delivering superior results to their investors. We look forward to pursuing new opportunities with FCP.”