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Front Street Capital Brand Alignment Announced

Posted on May 31st, 2018

Carolina Investment Properties (CIP) and Front Street Capital (FSC) are excited to announce that we have merged our brands and will now operate as Front Street Capital. This is a simple brand alignment as we integrate our existing development business and fund investment strategy to create a full-service development, asset management and private equity real estate company. The new FSC brand will maintain the same leadership and trusted legacy from the last 35 years - the highest level of integrity, experience, and entrepreneurial drive that puts our clients first every day.

Both Carolina Investment Properties and Front Street Capital have grown significantly, and our decision to integrate business operations enables us to deliver a strategy that is built for the next-generation real estate economy. Robin Team, Managing Partner of the combined entity was recently quoted as saying, "It was a natural evolution, as our Front Street Capital brand grows with the announcement of FSC Fund II, we wanted to consolidate our broader real estate business to provide synergies across our business platform."

This alignment creates the opportunity to leverage our experience and human capital to build a stronger brand that is poised for future growth. Recently, the FSC principal team has nearly doubled, and we continue to hire key employees in preparation of delivering on our investment strategies. Legacy CIP leadership includes Managing Partner Robin Team as well as Jonathan Starnes, who will serve as Partner and Manager of Asset Management and Alston Team, who will serve as Partner and Manager of Construction/Development Services.

Our development team currently has five exciting new projects either on the drawing board or under construction that total over 575,000 square feet with an investment potential of over $75 million. More importantly, these projects will contribute to the next-generation economy we are helping build across the Triad and offer unique opportunities in the urban core of both Winston-Salem and Greensboro.

In 2017, Front Street Capital closed our first private equity fund, Front Street Capital Properties Fund I, LP with a market value of approximately $50 million. FSC successfully raised and invested capital from 2015-2017 to create a portfolio of over 323,000 square feet of Class-A, income-producing assets across the Carolinas. FSC has recently launched Front Street Properties Fund II, LP and is actively raising capital for deployment later this year. “Since the close of Fund I we have been very pleased with its performance for our investors. We are excited about launching our second fund and continuing to build upon the success of our prior investments,” commented Coleman Team, Partner and Manager of FSC’s Fund Investing and Development platforms. Two key employees have recently joined FSC’s Fund Platform with Matt McInnis as a Principal of Fund Operations and Jennie Mostellar as Director of Investor Services.

Over our history, Carolina Investment Properties and Front Street Capital have developed or acquired over $400 million in income-producing properties primarily across the office, industrial, healthcare and mixed-use asset classes. Company growth in recent years has led us to new markets including Raleigh-Durham, NC, and Greenville, SC, and we are actively looking for further market opportunities across the greater southeast.