FCA has purchased and now manages Clarendon Arms Apartments and Mobile Ave Apartments
WHEATON, Ill., (January 1, 2015) – First Capital Advisors, LLC (FCA) announced today that the company now owns and manages Clarendon Arms Apartments in Clarendon Hills, Ill., and Mobile Ave Apartments in Oak Lawn, Ill.
“This is such a huge milestone for our company,” said Chris Pope, Principal of First Capital Advisors. “Being able to purchase and manage two apartment complexes near Chicago is such a great opportunity to diversify our experience and portfolio.”
Clarendon Arms Apartments is an 84 unit garden-style apartment complex located in Clarendon Hills, Ill., approximately 20 miles away from downtown Chicago. Mobile Ave Apartments is a 24 unit complex located approximately 18 miles away from Chicago and is surrounded by retail shops, a grocery store, and a large community park.
FCA is not only the sole sponsor of these deals, but is also the management firm. FCA Asset Management, an entity of FCA, has been managing retail properties throughout the United States and now will begin transitioning into residential management expanding the team as well.
“By taking ownership of these properties, we have added 3 full time employees and are searching for one more,” states Pope. “Being able to expand our team and grow the asset management side of our business is the exact direction I have envisioned for FCA.”
FCA Asset Management provides property management services for its residential and commercial properties, with expertise in all categories of multifamily and retail projects. Our property management professionals oversee all aspects of property management, asset management, leasing and operations to create value through our hands-on approach and long-term strategic planning.
First Capital Advisors, LLC is a fully integrated, self-administered and self-managed real estate investment firm focusing on the acquisition, ownership, and management of high quality real estate throughout the United States. First Capital is an affiliate of First Trust Portfolios L.P., a financial services firm founded in 1991. Additional information about First Capital Advisors can be found at the company’s website at fca-grp.com.