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FCP Acquires Cottages Of Monroe Multifamily Community In Monroe For $41.25 Million

Property Image
SOLD
$41,250,000

Iowa

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MultiFamily
Sold 02/13/2026
the dealdetailscomps
Property Image
SOLD

FCP Acquires Cottages Of Monroe Multifamily Community In Monroe For $41.25 Million

MultiFamily
Sold 02/13/2026
the dealdetailscomps

Summary

Asset Type:MultiFamily
Transaction Type:Sale

The property involved in this transaction is a multi-family asset located at 2300 West Franklin Street, Monroe, NC. The sale price for this asset was $41,250,000, and it consists of 151 units, which results in a price per unit of $273,179.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $41,250,000
  • Units: 151
  • Price Per Unit: $273,179
  • Buyer: Summer Haltli
  • Buyer’s Company: FCP

FCP acquired Cottages of Monroe, a cottage-style apartment community situated in the rapidly growing Charlotte suburb of Monroe, emphasizing a focus on maintaining affordability in the market.

Players

FCP
FCP
BUYER

Details

SOLD
IMAGE: 02/13/2026 ADDRESS: 2300 West Franklin Street MARKET: Monroe, NC ASSET TYPE: MultiFamily BUYER: Summer Haltli - FCP SALE PRICE: $41,250,000 UNITS: 151 ~ PPU: $273,179 NOTE: FCP acquired Cottages of Monroe, a 151-unit cottage-style apartment community in the Charlotte suburb of Monroe, for $41.25 million, focusing on maintaining affordability in a rapidly growing market.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,200,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$146,552.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$195,546.04
Annual Debt Service$2,346,552.54