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Fund III is expected to accommodate $1.7 billion of total investments Federal Capital Partners closes $512 million FCP Realty Fund III, L.P.

ISSUE HIGHLIGHTS Volume 28 Issue 21 November 11 - 24, 2016 FINANCIAL DIGEST FEATURING THE LENDER’S DIRECTORY 5-24A Central NJ 7-13B “The pull back is well underway” By Mark Scott, Commercial Mortgage Capital For speaking and sponsorship information, please contact: Linda Christman at 781-871-3456 or lchristman@marejournal.com New Jersey Commercial Healthcare & Medical Properties Summit UPCOMING CONFERENCES December 8, 2016 Pittsburgh Commercial Real Estate Forecast Summit December 9, 2016 6A


billion of total investments. Fund III has already closed 20 investments committing $332.4 million of fund equity and representing total value of $1.1 billion. FCP has grown to accommodate its increased assets under management, larger fund capacity and geo- graphic expansion, more than doubling its staff over the past several years. “FCP is extremely pleased with the response to the Fund III offering,” said FCP manag- ing partner, Esko Korhonen . “Since raising our initial fund in 2008, FCP has closed more

than 100 transactions, rep- resenting a range of invest- ments from structured loans and equity investments to the purchase of a public company, totaling an aggregate value in excess of $4.0 billion. We are excited at the prospects for our third fund given the opportunities created by the positive growth outlook for the Eastern U.S.” Korhonen continued, “FCP’s active investment pace is, in large part, due to our abil- ity to move quickly in mar- kets where we have deep knowledge and established

relationships. We have a proven track record closing complex transactions, in particular those that have a need for redevelopment and repositioning to fully achieve value. Our access to fully dis- cretionary capital also allows for the flexibility to invest throughout the capital stack as equity, preferred equity, mezzanine debt or any com- bination of the above.” FCP would like to acknowl- edge and thank Lazard for their assistance with the FCP Realty Fund III, L.P. fundraise. n

HEVY CHASE, MD — Federal Capital Partners (FCP) an-

nounced the c l o s i n g o f FCP Realty Fund I I I , L.P. (Fund III) , a $512.1 million fund t a r g e t i n g mu l t i f am- ily and com-

Esko Korhonen

mercial properties and struc- tured opportunities through- out the Eastern U.S. Fund III, when fully invested, is expected to accommodate $1.7

PackagingWholesalers to open distribution center in 293,493 s/f Mericle-owned facility

EAST UNION, PA — The Packaging Wholesalers, one of the nation’s largest suppliers of packaging materials to the supply chain industry, has announced plans to open a dis- tribution center in 293,493 s/f of industrial space at 63 Green Mountain Rd. in Humboldt Industrial Park, East Union Twp., near Hazleton. The building was developed and is owned by Mericle Commercial Real Estate Services . The company has scheduled a grand opening for December 1st and will use the facility to distribute more than 1,200 sizes of corrugated boxes and shipping materials such

63 Green Mountain Rd.

as tapes, stretch film, steel strapping and more. The firm expects to hire 40 plus employees. The Packaging Wholesal- ers is based in Elgin, Illinois where it operates a 500,000 s/f corporate headquarters and distribution center and also has a 300,000 s/f distribution center in Dallas, Texas. The company made the decision to lease space at 63 Green Mountain Rd. to improve de- livery lead times nationwide, especially to its customers on the east coast. Company founder and own- er Mike Hrbacek said the Mer- icle facility gives his company access to 42 dock doors in a modern industrial facility just minutes from I-81 and I-80.

“This building places us within three to four hours of the east coast’s population,” Hrbacek said. “The newware- house and offices will support our cost- cutting technological advances to our patent pend- ing delivered pricing program and will allow us to capitalize on aggressive pricing and quicker lead times through our nationally recognized tiered pricing program,” he said. The real estate transaction was coordinated by Mericle vice president Jim Hilsher and Jeff Lockard , senior as- sociate with the national real estate brokerage firm JLL . Hilsher said The Packag- ing Wholesalers is one of 16 companies that lease space in

Mericle industrial buildings in the Greater Hazleton area. Humboldt Industrial Park is one of the largest indus- trial parks in Pennsylvania and was developed by CAN DO, Inc . CAN DO presi- dent Kevin O’Donnell said the agency is excited that Packaging Wholesalers chose Greater Hazleton for its new- est distribution center. “Many companies have located to our area because of its strategic location to markets. We are also pleased that Mericle Commercial Real Estate has been successful in bringing yet another company to our community. Mericle has been a strong partner of CAN DO for many years,” O’Donnell said. n


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