DFX Intelligence
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F••
Value add real estate managerSEC-registered adviser$1B to $5B· Chevy Chase, Maryland
Value add real estate manager, based in Chevy Chase, Maryland, reporting $3.7B of real estate gross assets across 10 vehicles.
Composed from this manager's Form ADV filings and classification.
As of · the latest Form ADV filing; property activity carries its own dates
- Real estate GAV
- $3.7B
- Current vehicles
- 10
- Properties held
- 12
- Institutional LPs
- 1
Form ADV, Schedule D, real estate vehicles summed
Form ADV, Schedule D 7.B.(1)
Deeds, filings and the manager's own site, bound to its vehicles
Pension and endowment disclosures
As of · the latest Form ADV filing; property activity carries its own dates
Why this matters
- Institutional LPs 1
- Graphs 1
Identifiers, size band and strategyCRD 161468 · SEC 801-74428ShowHide
What capital do they manage?
- Real estate GAV
- $3.7B GAV 2024sum of GAV over non-feeder, non-quarantined real estate vehicles on the latest filing, including vehicles typed Other Private Fund and admitted on their name (a scale proxy, never fund size)
- Vehicles
- 10 current, 11 ever, 1 dropped3 feeders, 0 funds of funds
- First on the tape
- 2012the extract starts in 2011; an earlier history is not visible
- Latest filing
- Mar 28, 2024registered adviser
- Adviser RAUM
- $4.1Bthe whole adviser, all strategies; used for the quarantine test only
- Fund types on the latest filing
- Real Estate Fund 10
- Latest vintage
- 2024from a fund name year or the first ADV report after the adviser's first filing
What do they say they do?
stated by the manager
- Strategy
- Value add
- Operator model
- Hybridbasis: stated
- Property types
- Multifamily, Office, Retail, Industrial, Mixed usebasis: stated
- Markets
- Washington, DC / MD / VA / NC / SC / TN / GA / FL / NJ / NY / PA / MA / AZ / CO / NV / TX, Las Vegas, NV, Atlanta, GA, Charleston, SC, Denver, CObasis: stated
- Business kind (site)
- REAL_ESTATE_MANAGER
- AUM in its own words
- ••• Lockedthe manager's statement, not a DFX figure
- Parent
- Federated Hermes, Inc.
In the manager’s own words
- Value add: “FCP ® is a diversified, value-add investor and operator, focused on the residential and commercial sectors.”
- Core plus: “Employing a balanced approach, FCP invests in value-add and core+ multifamily and commercial assets.”
- Debt: “FCP participates through multiple investment models such as equity, joint venture equity and structured investments, including preferred equity and debt.”
- Development: “We also invest in existing office buildings and finance new multifamily and commercial development.”
- Multifamily: “We acquire moderate income multifamily communities, then create significant value by repositioning those properties through capital improvements and enhanced management.”
- Office: “We also invest in existing office buildings and finance new multifamily and commercial development.”
- Retail: “FCP closed its second fund, a $529.2 million fund targeting multifamily, office, retail and industrial opportunities throughout the Mid-Atlantic region.”
- Industrial: “FCP closed its second fund, a $529.2 million fund targeting multifamily, office, retail and industrial opportunities throughout the Mid-Atlantic region.”
- Mixed use: “T•• D•••••, a landmark mixed-use development featuring both new construction and adaptive re-use of historic buildings in Raleigh, NC, opened its doors to its first residents.”
- Washington, DC / MD / VA / NC / SC / TN / GA / FL / NJ / NY / PA / MA / AZ / CO / NV / TX: “Our investments are concentrated in Washington, DC, Maryland, Virginia, North Carolina, South Carolina, Tennessee, Georgia, Florida, New Jersey, New York, Pennsylvania, Massachusetts, Arizona, Colorado, Nevada, and Texas.”
- Las Vegas, NV: “FCP makes its first investment in the Las Vegas, NV market with the acquisition of T•• A••••••• A•••••••••.”
- Atlanta, GA: “FCP made its first investment in the Atlanta area, acquiring buildings with a local partner for the S••••••••• development, an adaptive re-use office and retail project in West Midtown.”
- Charleston, SC: “FCP entered the Charleston, SC market with an adaptive reuse development, T•• C•••• F••••••, in a venture with a local developer.”
- Denver, CO: “FCP expands its presence in the Midwest and West with an office in Denver, CO and investments in Texas.”
Vehicles
11 on Form ADV
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| F•• R••••• F••• V• L••• 805-2662017026 | fund | $1.1B GAV 2024 | 274 | 2022 to 2024 | 2022 | Investing | 1 | |
| F•• R••••• F••• I•• L• 805-4225867026 | fund | $941M GAV 2024 | 354 | 2018 to 2024 | 2018 | Harvesting | 1 | |
| F•• R••••• F••• V•••• L••• 805-5041949267 | feeder | $443M GAV 2024 | 58 | 2023 to 2024 | 2023 | Deploying | ||
| F•• R••••• F••• V• C••••••••• L••• 805-8782495733 | co-investment | $351M GAV 2024 | 5 | 2023 to 2024 | 2023 | Investing | ||
| F•• R••••• F••• I••• L• 805-6501111408 | fund | $337M GAV 2024 | 369 | 2015 to 2024 | 2015 | Harvesting | ||
| F•• R••••• F••• V•••• L••• 805-4088312540 | feeder | $273M GAV 2024 | 2 | 2023 to 2024 | 2023 | Deploying | ||
| F•• R••••• F••• V•••• L••• 805-3559215366 | feeder | $150M GAV 2024 | 37 | 2023 to 2024 | 2023 | Deploying | ||
| F•• R••••• F••• I•• L• 805-6495943790 | fund | $57M GAV 2024 | 52 | 2012* to 2024 | unknown | Winding down | ||
| F•• H•••••• P••••••••• H•••••••• L••• 805-2205184519 | fund | $50M GAV 2024 | 1 | 2024 to 2024 | 2024 | Unknown | ||
| F•• F••• I• L• 805-5467311718 | fund | $0 GAV 2024 | 45 | 2012* to 2024 | unknown | Winding down |
1 dropped, re-typed or historical vehicles
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| H•••••• M• C••••••••• F••• I• L• 805-6680575875, dropped 2020 | fund | $325M GAV 2019 | 35 | 2016 to 2019 | 2016 | Dropped from ADV |
What do they actually own?
11 trusted of 13 candidate bindings
| Owner entity | Vehicle | Properties held | Loans | Evidence |
|---|---|---|---|---|
| L••• W••••• O•••• L•• FL, multifamily 10+ units | manager only | 1 assessed $85.6M | Corporate filing sunbiz_officer_person_is_manager | |
| B••••• L•••• L•• FL, multifamily 10+ units | manager only | 1 assessed $31.2M | Corporate filing sunbiz_officer_person_is_manager | |
| C••••••• S•••••• E••• L•• FL, multifamily 10+ units | manager only | 1 assessed $19.7M | Corporate filing sunbiz_officer_person_is_manager | |
| A•••• S•••••• O•••• L•• FL, multifamily 10+ units | manager only | 1 assessed $86.4M | Corporate filing sunbiz_principal_address_hq_suite | |
| M•••••• A• W••••••• L•• FL, multifamily 10+ units | manager only | 1 assessed $31.5M | Corporate filing sunbiz_principal_address_hq_suite | |
| T•••• C•••••• L•• FL, multifamily 10+ units | manager only | 1 assessed $26.3M | Corporate filing sunbiz_principal_address_hq_suite | |
| B•••••• R••• O•••• L•• FL, multifamily 10+ units | manager only | 2 assessed $32.7M | Address and agent owner's tax-bill address is the manager's headquarters to the suite or floor | |
| R••••• S••••••• O•••• L•• FL, multifamily 10+ units | manager only | 1 assessed $72.1M | Address and agent owner's tax-bill address is the manager's headquarters to the suite or floor | |
| T••••••• A••••••••• E••• L•• FL, multifamily 10+ units | manager only | 1 assessed $19.3M | Address and agent owner's tax-bill address is the manager's headquarters to the suite or floor | |
| T••••••• A••••••••• W••• L•• FL, multifamily 10+ units | manager only | 1 assessed $18.3M | Address and agent mailing_hq_suite_own_house | |
| 1••• S• S•••• R••• 7• O•••• L•• FL, multifamily 10+ units | manager only | 1 assessed $49.8M | Address and agent mailing_hq_suite_own_house |
Properties the manager names on its site
- C••••••• o• M•••••, Charlotte, NC (multifamily) “••• Locked”
- T•• D•••••, Raleigh, NC (mixed_use) “••• Locked”
- T•• A••••••• A•••••••••, Las Vegas, NV (multifamily) “••• Locked”
- A••••••• C•••••••• P••••••••• T•••• (other) “••• Locked”
- T•• A•••••• (multifamily) “••• Locked”
- T•• M•••••, Baltimore, MD (other) “••• Locked”
- G••••••• S•••••, Arlington, VA (multifamily) “••• Locked”
- N••••••• C••••• I••••••••, Frederick, MD (life_science) “••• Locked”
- 1••• A•••, 1••• A•••, Philadelphia, PA (multifamily) “••• Locked”
- T•• C•••• F••••••, Charleston, SC (mixed_use) “••• Locked”
- S•••••••••, Atlanta (West Midtown), GA (office) “••• Locked”
- H••••••• S•••••, Washington, DC (other) “••• Locked”
What are they buying, selling and financing?
0 acquisitions, 0 sales, 0 financings in 12 months
- AcquisitionFeb 1, 2025$90.0M1501 NW 124 TER, Sunrise FL (multifamily 10+ units) through A•••• S•••••• O•••• L••Public records search.sunbiz.org
Who finances them?
0 loans, 0 lender groups
No recorded loans through trusted holdings.
Who backs them?
1 allocators, 2 rows
- J••• D• • C•••••••• T• M•••••••• F••••••••• in F•• R••••• F••• V• L••• exact_name$11.5M fair value, as of Dec 31, 2024 apps.irs.gov
- J••• D• • C•••••••• T• M•••••••• F••••••••• in F•• R••••• F••• I•• L••• exact_name$15.2M fair value, as of Dec 31, 2024 apps.irs.gov
People
Form ADV Schedule A, latest filing
- G•••••• E••••• F•••• Partner/Chief Operating Officer/Chief Compliance Officer since 2008-01
- E••• I••••• K••••••• Managing Partner since 2008-01
- L••• I• R••• Managing Partner since 2008-01
- A••• J•••• M••••••• Managing Partner since 2008-01
- J•••• J• B••••••••• Partner since 2020-11
- E••• S•••••• W••••••• Partner since 2023-10
- C••••••••• R• L•••••• Partner since 2023-10
What is changing?
- Vehicle first reported Mar 28, 2024 (observed) ••• Locked
- Vehicle first reported Mar 31, 2023 (observed) ••• Locked
- Vehicle first reported Mar 31, 2023 (observed) ••• Locked
- Vehicle first reported Mar 31, 2023 (observed) ••• Locked
- Vehicle first reported Mar 31, 2023 (observed) ••• Locked
- Vehicle first reported Mar 31, 2022 (observed) ••• Locked
- Vehicle dropped from ADV Mar 30, 2020 (observed) ••• Locked
- Vehicle first reported Mar 30, 2018 (observed) ••• Locked
- Vehicle first reported Mar 30, 2016 (observed) ••• Locked
- Vehicle first reported May 28, 2015 (observed) ••• Locked
- First ADV filing on the tape Feb 24, 2012 (observed) ••• Locked
- Vehicle first reported Feb 24, 2012 (observed) ••• Locked
- Vehicle first reported Feb 24, 2012 (observed) ••• Locked
Across DFXHow records are bridgedBridged by shared CRD, CIK or SEC fund id only; the same institution’s PE portfolio companies and its real estate holdings stay on their own graphs.