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Stock impact report

FCP buys Center City Philadelphia high-rise apartment community [Reuters]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Reuters
FCP buys Center City Philadelphia high-rise apartment community - PE Hub FCP buys Center City Philadelphia high-rise apartment community Print Email Edgewater, J.P. Morgan Asset Management PRESS RELEASE CHEVY CHASE, Md., /PRNewswire/ — FCP(?) announces the $117.9 million acquisition of Edgewater, a 286-unit luxury high rise apartment community at 2323 Race Street in Center City Philadelphia, PA, from institutional investors advised J.P. Morgan Asset Management. The purchase price includes excess land that can be developed, a stand-alone parking garage (in addition to parking beneath the building) and a revenue producing billboard along I-676. The acquisition of Edgewater is FCP’s fourth Class A Center City Philadelphia investment and builds on the firm’s very active multifamily acquisition activity over the past 12 months with 4,766 units acquired throughout the United States. “Strong job growth, extraordinary walkability and the continued evolution of Center City into a complete Show less Read more
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