FOR IMMEDIATE RELEASE
Contact: Herman Bulls, President & CEO
+1 (202) 256-1814
herman.bulls@bullscapitalpartners.com
Bulls Capital Partners
Arranges $2.8 Million Fannie Mae Loan to Refinance of
60-Unit Apartment Property in Zephyrhills, Florida
Vienna,
Virginia, April 21, 2008 --
Bulls Capital Partners LLC, a
multi-family financial services provider and Fannie Mae
Delegated Underwriting & Servicing (DUS®) lender, today
announced it has provided financing to Oak Run Properties,
Inc. in the amount of $2.8 million for the refinance of Oak
Run Apartments in Zephyrhills, Florida.
Oak Run Apartments is a
60-unit garden-style apartment complex built in 1995 with a
mixture of two- and three-bedroom units. Property amenities
include a swimming pool, car care center and storage units.
Located 35 miles northeast of
Tampa, Zephyrhills is known as the “City of Bottled Water”
for its pure spring water drawn from seven wells and bottled
and sold around the world.
The loan was originated by
Tony Ferry, Director, Real Estate Investment Banking at
SunTrust and Alicia Cotton, Assistant Vice President at
Bulls Capital Partners, LLC. James Bingham, General Partner
of Oak Run Properties, Inc., represented the Borrower..
“We continue to pursue
finance opportunities for quality apartments with strong
sponsorship in healthy markets,” said Herman Bulls,
President and CEO of Bulls Capital Partners. “This
transaction featured all those elements, plus great
collaboration with Oak Run Properties and our partner,
SunTrust..”
“The SunTrust team led by
Tony Ferry demonstrated once again their commitment to
making loans to strong borrowers at the best terms possible
in the current capital markets,” said Alicia Cotton,
Assistant Vice President of Production at Bulls Capital
Partners.
"Bulls Capital Partners did
an outstanding job in executing this loan request from
application to closing--in a very difficult lending
environment," said Ferry. "We continue to appreciate the
professionalism and great customer service that Bulls
Capital Partners has provided to our bank clients over the
years.”
“I enjoyed working with Bulls
Capital Partners on this transaction,” said the borrower,
James Bingham of Oak Run Properties. “The process was
relatively smooth despite this current financing environment
and I would definitely work with them again in the future.”
About Bulls Capital Partners, LLC
Bulls Capital Partners, LLC is a Fannie Mae-approved
Delegated Underwriting and Servicing (DUS®) lender that
offer a full array of financing solutions to owners of
multifamily property. Bulls Capital Partners’ key
capabilities under the DUS program include small loan
solutions, affordable housing solutions, student housing,
market-rate multifamily mortgages, and credit facilities,
among other offerings.
Bulls
Capital Partners is a joint venture of SunTrust Bank (www.Suntrust.com),
one of the nation’s largest commercial banking
organizations, and Bulls Multifamily, LLC, a
minority-controlled firm headed by President and CEO Herman
Bulls. Bulls previously ran a successful DUS lending
operation, and has extensive commercial real estate
experience with one of the world’s leading real estate
service providers. Co-founding Bulls Capital Partners with
Bulls is Mark Van Kirk, Chief Operating Officer. Van Kirk
previously served as Director of Counterparty Risk at Fannie
Mae.
Website:
http://www.bullscapitalpartners.com/
About
SunTrust Banks, Inc.
SunTrust Banks, Inc.,
headquartered in Atlanta, is one of the nation's largest
banking organizations, serving a broad range of consumer,
commercial, corporate and institutional clients. As of
December 31, 2007, SunTrust had total assets of $179.6
billion and total deposits of $117.8 billion. The Company
operates an extensive branch and ATM network throughout the
high-growth Southeast and Mid-Atlantic states and a full
array of technology-based, 24-hour delivery channels. The
Company also serves customers in selected markets
nationally. Its primary businesses include deposit, credit,
trust and investment services. Through various subsidiaries
the Company provides mortgage banking, insurance, brokerage,
investment management, equipment leasing and capital markets
services.
Website:
http://www.suntrust.com
# # #
DUS is a
registered trademark of Fannie Mae
