**FCP Acquires 151-Unit Build-to-Rent Community Near Charlotte for $41M**
A joint venture between Taylor Morrison and Värde Partners has sold Yardly Monroe, a newly constructed build-to-rent community located in Monroe, North Carolina. The 151-unit cottage-style rental development was purchased by FCP for $41 million.
The property, situated at 3380 Taylor Morrison Drive in Monroe—approximately 20 miles southeast of Charlotte—spans 24.89 acres and includes one- and two-bedroom rental homes. Each unit features a private backyard, offering residents a blend of privacy and community living.
Yardly Monroe offers a variety of community amenities, including a swimming pool, dog park, door-to-door package exchange, gated access, fitness studio, and optional detached garages.
To finance the purchase, FCP secured a $24.75 million Freddie Mac permanent-fixed loan. The interest-only financing was structured on a five-year term with a 35-year amortization schedule.
Northmarq facilitated the transaction, with its Multifamily Investment Sales team—led by Trevor Koskovich, John Currin, Jesse Hudson, and Austin Jackson—coordinating the sale. The firm’s Debt + Equity team, led by Faron Thompson and Grant Harris, handled the acquisition financing.
The acquisition highlights growing investor interest in cottage-style and build-to-rent communities, particularly in suburban locations close to major metros like Charlotte.
