News
FCP FIRST AT THE ARCH
July 19, 2012
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| The Arch—the historic and gothic structure at 17th and Arch streets, formerly known as the Robert Morris Building—is open for pre-leasing. Managed and marketed by Scully Company on behalf of Federal Capital Partners and 806 Capital, it's already more than 60% leased with premium rents. All luxury apartment units feature concierge service, digital media theatre access, smart wiring, Grohe faucets, and subway tile showers. |
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| Financing for the project was provided by Federal Capital Partners and PNC Bank. The project is FCP’s first foray in Philadelphia’s CRE market, although managing partner Lacy Rice says there may be more to come. "We recognize the potential for growth in the Philadelphia market, particularly in the luxury rental submarket," he says. "And we're continuing to look at opportunities to invest capital here.” |
