LAS VEGAS—FCA Group, the North and Central American real estate investment and property management arm of the Libra Group, has acquired the 316-unit multifamily development Amber Ridge Apartments.
It marks a significant addition of 266,060 square feet to the company's North America multifamily housing portfolio and joins the 1,000 residential units which FCA Group already owns and manages in Florida.
“We have been looking to make an investment such as this for some time and Amber Ridge Apartments presented the perfect opportunity for us,” says Frank Espinosa, CEO of FCA Group. "It is in the right place at the right time, with Las Vegas improving its economics and infrastructure. We were able to close this transaction in a swift manner through the leverage of our own financing. Our approach to investment involves adding value to developments, improving the living environment, and creating more cohesive communities."
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
