Faison spins off acquisitions, multifamily teams into new companies

Faison spins off acquisitions, multifamily teams into new companies

The Charlotte Business Journal, Ashley Fahey
January 5, 2017

A Charlotte real estate firm has successfully spun off its acquisitions and multifamily teams into two independent companies.

The former acquisitions team at Faison Enterprises will now operate as Wintergreen Capital, to be led by David Lampke and Bill Barnett. The multifamily group, led by Chris Branch, will operate as Boulevard Real Estate Advisors.

Faison started its restructuring after its founder, Henry Faison, died in late 2012. A real estate investment management firm called FCA Partners was formed by the advisory team at Faison in 2014. Also that year, Faison sold its property management business to Foundry Commercial.

Since 2013, Lampke and Barnett have sourced and executed investments for Faison valued at more than $180 million, according to Faison. Wintergreen Capital will continue to serve as the asset manager for properties sourced on Faison’s behalf, and Faison intends to invest alongside Wintergreen in the future.

Since joining Faison in 2011, Branch has led the development of eight multifamily communities totaling 2,100 units and valued at more than $450 million. Faison is currently building a 64-unit project locally and a 314-unit project in Daniel Island, S.C. Branch will continue to oversee those projects, as well as the recently entitled project on East Seventh Street, in a consulting role. Faison anticipates future multifamily investment opportunities with Boulevard Real Estate Advisors.

“We appreciate the many contributions that David, Bill and Chris have made to our business and wish them continued success with their new ventures,” said Tom Webb, president of Faison, in a statement. “We look forward to exploring investment opportunities with both Wintergreen Capital and Boulevard Real Estate Advisors in the future.”

Faison will operate solely as an investment company and will seek to deploy its capital in the Southeast in a limited partner capacity.

Read the original article in the Charlotte Business Journal.