Chevy Chase-based FCP plans Charleston rehab project

Daily Record Staff//April 22, 2014//

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Federal Capital Partners, of Chevy Chase, a privately held real estate investment company that owns and manages in excess of $2.3 billion in assets, said it has joined with a group of investors in Charleston, S.C., called Roi-Tan Investments LLC, to acquire the historic Cigar Factory Building on Charleston’s Cooper River waterfront.

The joint venture intends to convert the building — which was formerly used by American Tobacco Co. to manufacture Roi-Tan Cigars — to a mixed-use property containing work/office space, restaurants, retail and parking.

The total redevelopment cost will exceed $55 million.

Both FCP and Roi-Tan will contribute equity to the transaction, and FCP will provide mezzanine debt financing.

Tags: maryland, investment, chevy chase

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