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Institutional Real Estate · Alaska, U.S.A.

We own and operate commercial real estate in Interior Alaska

Multifamily, mixed-use, office, and industrial- held for the cycle, not flipped

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450,000

+

Sq Ft Under
Management

4

Diversified Asset Classes

100

%

Alaska Focused

20

+

Years Operating

A.

Vertically integrated operator

One team from acquisition through operations. No handoffs.

B.

Active asset management

We make the calls: leasing, capex, vendors — at every property.

C.

Operational control

Leasing strategy, capex timing, tenant mix — set by us, not by a third-party manager, for the entire hold.

D.

Long term stewardship

We underwrite for cycles, not flips. Most holds are measured in years and decades.

Who We Are

The Work Behind
the Value

Fairbanks Commercial Properties is a vertically integrated owner-operator. We don't subcontract the parts of real estate that decide whether the asset works. Our team handles diligence, capital, leasing, and operations — and we stay with the building through the cycle.

We're not brokers. We don't represent buyers and sellers. We put our own capital into every deal we do, and we make money the same way our partners make money: from how the building performs and what it's worth at the end of the hold.

Portfolio Overview

The portfolio, at a glance

$631K

$2.7M

A Street
Apartments

$675K

$1.8M

330 Barnette
Street

$100K

$4.7M

Helmericks
Avenue

Portfolio value creation by asset
Asset	Entry Value	Appraised value
A Street Apartments	$631K	$2.7M
330 Barnette Street	$675K	$1.8M
Helmericks Avenue	$100K	$4.7M

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CASE STUDY

A Street Apartments

STABILIZEDMULTIFAMILY · 24 UNITS

500 A Street, Fairbanks, AK 99701Year built 1950Entered platform 2024

BEFORE · 2024

AFTER · 2026

Occupancy

~70% At acquisition

100%Sub-30-day re-lease velocity

Net operating income

$63,145 2023 actualAt acquisition

$280,3872026 forecast

Appraised market value

$631,446 2023At acquisition

$2,700,000January 9, 2026

ACQUISITION CONTEXT

Twenty-four units on the corner of A Street and Dunbar, built in 1950. The owner brought us in to manage the asset. Rents were below market, repairs were reactive, occupancy was stuck around 70%, and nobody was actively running the leasing.

OPERATIONAL IMPROVEMENTS

We brought leasing in-house, ran better marketing, and tightened the turn cycle so units came back to market in about thirty days, not three months. Average two-bedroom rent moved from $858 to $1,612. No existing tenant was pushed out to get there. The new rents came in on natural turns.

CAPITAL IMPROVEMENTS

We spent capital in the order that mattered. Envelope and mechanicals first, because that's what protects the cash flow you already have. Interior renovations followed, done one unit at a time at natural turnover, so the building never went offline. By the end of the program, every unit was at market spec.

STABILIZATION RESULTS

Arctic Appraisal Company's January 2026 report puts the asset at $2,700,000 as-is — $2,821,000 by the Income Approach, $2,500,000 by Sales Comparison. Net operating income runs at a 2026 forecast of $280,387 against $63,145 in 2023 — a 4.4× operating uplift on the same building.

CASE STUDY

Northward Building

REPOSITIONING IN PROGRESS177 APARTMENTS + GROUND-FLOOR COMMERCIAL

455 3rd AvenueFairbanksAK

BEFORE · 2024

AFTER · 2026

Vacant Apartments

50 Units October 2025

28 UnitsMay 2026

Re-Lease Velocity

No Established Benchmark At acquisition

Approximately 2 Weeks per Renovated UnitStabilized / Current

NOI Margin

3.0% (2020) to 4.5% (2024)Prior Ownership

Target: 18% to 22%At stabilization

ACQUISITION CONTEXT

Northward is the largest single asset on the FCP platform: a 177-unit downtown Fairbanks mixed-use building with a stable commercial ground floor, basement parking, and district heat. The downtown location and district-heat economics provided durable revenue protection, but margin and condition had been eroded by deferred maintenance, unrealized pricing power, and 50 vacant apartments at close. The opportunity was structural, not speculative.

OPERATIONAL IMPROVEMENTS

Priorities are vendor consolidation, planned-maintenance discipline, leasing modernization, and unit-by-unit renovation paired with active leasing. Vacancies fell from 50 at acquisition to 28 by May 2026, a 44% reduction in seven months. A disciplined renovate-and-release cadence returns a vacated unit to market-ready condition and re-leases it in about two weeks. Heat and electricity stay bundled into rent, giving tenants a predictable all-in cost.

CAPITAL IMPROVEMENTS

The capital program advances on two fronts: security and condition. The first deployment was a full security overhaul: perimeter and interior cameras, electronic-key access at every entry, and an integrated access-control platform. This created a controlled-access environment that elevates tenant safety and supports the leasing reset. The 2025–2026 winter identified the building envelope as the next priority, so the 2026 plan advances to a full facade renovation and thermal-envelope upgrade.

STABILIZATION RESULTS

The repositioning is in progress. Stabilization is defined by three milestones: full occupancy across an envelope-upgraded unit base; a net operating income margin within the 18% to 22% institutional band; and a diversified commercial tenant mix anchoring the ground floor. As of May 2026, vacancies have fallen from 50 to 28, with renovated units re-leasing in about two weeks per turn.

CASE STUDY

330 Barnette Street

IN STABILIZATIONOFFICE · 11,442 SF + 3,104 SF LOWER LEVEL

300 and 330 Barnette StreetFairbanksAKYear Built: 1969

BEFORE · 2024

PLANNED · 2026

Acquisition Cost / Implied Value

$675,000 Cost Basis 2023

$1,818,0902026 Implied

Occupancy

Approximately 61% At acquisition

100%Stabilized / Current

In-Place Rent Rate

$1.35 to $1.50 per SF Average

$2.00 per SFStabilized / Current

ACQUISITION CONTEXT

330 Barnette Street is a two-story downtown Fairbanks office building on a prominent corner, with adjacent parking and a partially finished lower level. Under passive prior ownership, it had drifted into below-market rents, intermittent vacancies, and an outdated facade. FCP acquired it at $675,000, a 32.5% discount to the $1,000,000 asking price, betting an active owner-operator would reset rents to market and re-tenant the lower-level suites.

OPERATIONAL IMPROVEMENTS

Leasing shifted from passive renewal to proactive repositioning. Existing tenants were re-engaged under new ownership, and vacant suites brought to market at $1.75 to $2.00 per square foot, the upper end of the appraisal's comparable set. Amenities, including parking and after-hours services, were restructured so the property competes on service quality and tenant experience rather than price alone.

CAPITAL IMPROVEMENTS

The capital program was staged in waves. The initial phase addressed mechanical reliability, common-area presentation, and a tenant-experience upgrade to support the rent reset. Subsequent phases focus on the lower level and exterior, each underwritten against incremental in-place lease economics rather than speculative future demand.

STABILIZATION RESULTS

The Hage and Associates appraisal dated February 19, 2024 concluded an as-is market value of $800,000, an 18.5% uplift over cost basis within twelve months. The building is now 100% leased at $24.00 per square foot annually. Effective rental income of $235,752 against $53,943 in operating expenses produces a 2026 pro forma net operating income of $181,809 and a 77% margin. At a 10% capitalization rate, this implies a stabilized value of about $1.82 million, roughly 2.7 times cost basis.

CASE STUDY

Helmericks Avenue

STABILIZEDOFFICE · 5,677 SF + INDUSTRIAL · 58,615 SF · TOTAL 64,292 SF

399 Helmericks AvenueFairbanksAKInterest: Sandwich Leasehold on Alaska Railroad Ground Lease

BEFORE · 2024

AFTER · 2026

Industrial Occupancy

0% March 2024

79%August 2024 · Target 92.5%

Stabilized Net Operating Income

Not Applicable At acquisition

$732,546Appraiser Pro Forma

Appraised Market Value

$100,000 Cost Basis At acquisition

$4,650,000 As-Is / $6,440,746 StabilizedStabilized / Current

ACQUISITION CONTEXT

399 Helmericks Avenue is a multi-tenant industrial campus in northeast Fairbanks: four buildings totaling 68,325 SF of warehouse, shop, and office space on a 6.17-acre site, with 39 overhead doors and a fenced yard along the Alaska Railroad corridor. Originally a bus maintenance facility, it was acquired by OFD LLC in late 2023 in distressed condition with ~34,600 SF vacant, offering two paths to value: a cash-flowing investment with lease-up upside or an owner-occupied home base tenants help carry.

OPERATIONAL IMPROVEMENTS

Leasing is run in-house across nine active tenants spanning auto repair, recreation, expedition services, and office, anchored by Fairbanks Native Association through March 2029 and JP’s Auto Repair through July 2030. Buildings C and D are fully leased; the ~34,600 SF in Buildings A and B is being subdivided into individually leasable bays to close the gap between in-place and stabilized income.

CAPITAL IMPROVEMENTS

Since acquisition the campus has undergone substantial capital work: new roofs on the A and B warehouse buildings, site-wide natural gas conversion, concrete floor replacement, new restrooms in Buildings B and C, and water service extended into Building B. Building B now carries 3-phase electrical power, rare in the Fairbanks multi-tenant warehouse market, suiting it to manufacturing and heavy industrial use. Insulation upgrades and interior improvements are planned for 2026 to bring remaining vacant space to market-ready condition.

STABILIZATION RESULTS

The August 2025 MAI appraisal (Black-Smith, Bethard & Carlson, File 25-051) concluded a stabilized value of $5.60M leasehold / $5.79M leased fee. At stabilized occupancy the campus supports potential gross income of $1,074,128 and a net operating income of $607,694, against in-place income of $646,926 per year at ~62% leased. The $6,300,000 asking price reflects a 9.65% going-in cap, inside the local market average of 8.6%, at $92 per square foot.

BEFORE · 2024

AFTER · 2026

BEFORE · 2024

AFTER · 2026

BEFORE · 2024

PLANNED · 2026

BEFORE · 2024

AFTER · 2026

Strategic outlook

Beyond repositioning
— the next chapter

Bringing old Alaska buildings back is what we do today. The next chapter is new buildings — workforce housing at scale. Two Alaska winters told us the same thing the engineering reports did: the cost of operating legacy construction is the single biggest pressure on margin. We can keep paying that bill, or we can deliver buildings that don't have it.

Lower

Lower utility and maintenance per door than the stock it replaces.

Faster

A shorter build cycle. Factory-controlled, not weather-exposed.

Shovel-ready

The platform is already in operation. The team has the receipts. The pipeline is what comes next.

Energy-efficient by design

A tighter, better-insulated building costs less to heat and less to maintain. Every door, every month.