FCP and Terwilliger Pappas Multi Family Partners completed two separate transactions totaling $128.6 million. The first, Solis Waverly, was sold for $84.4 million to  Lan Properties/Lantower Residential. In a separate transaction, Solis Ballantyne was sold for $44.2 million. FCP is a privately held real estate investment company that has more than $6 billion in real estate assets acquired since its founding in 1999.

"FCP felt fortunate to develop these properties with Terwilliger Pappas, the Southeast's top developer of best in class multifamily communities," said FCP Managing Partner, Lacy Rice. "Both communities set a high standard, contributing to the success of their distinctive neighborhoods."

"Solis Waverly and Solis Ballantyne provided an excellent opportunity to partner with FCP on two of the Southeast's most desirable sites," said Terwilliger Pappas’ CEO Peter Pappas. "Our team's interest in developing best in class communities aligns well with FCP's strategy of delivering superior results to their investors. We look forward to pursuing new opportunities with FCP."

Solis Waverly, with development completed in 2016, is a 375-unit luxury multifamily project in Waverly, N.C., a pedestrian-friendly, master planned community with an urban feel on 90 acres.

Solis Ballantyne, also completed in 2016, is a 194-unit, is located in one of Charlotte's top suburban submarket, Ballantyne. Only two multifamily properties have sold in the last 10 years in Ballantyne (other than Waverly), with no Class-A sales. Charlotte's job and population growth continue to exceed peer cities. The city is third in population growth in 2017 for large U.S. cities and boasts population growth of 155% from 2000-2017 for the Ballantyne submarket.