FOR IMMEDIATE RELEASE
Contact: Herman Bulls, President & CEO
+1 (202) 256-1814
herman.bulls@bullscapitalpartners.com

Bulls Capital Partners Finances 113-Unit Property in Suburb of Syracuse, NY
Expands New York Portfolio
 

Vienna, VA December 4, 2006 -- Bulls Capital Partners LLC, a multi-family financial services provider and Fannie Mae Delegated Underwriting and Servicing (DUS) lender, has placed a $2.92 million loan on a 113-unit garden-style apartment complex in Liverpool, New York, a suburb of Syracuse.

Wellington Manor Apartments consists of five three-story buildings situated on a 5.84-acre parcel.   The property includes three studio units; 30 one-bedroom units; 50 two-bedroom units; and 10 deluxe two-bedroom units. Property amenities include rentable garage spaces, a laundry facility and storage units.  Wellington Manor is owned and managed by Syracuse-based Longley-Jones Companies.

The loan was originated by Jerod Schoonmaker of Syracuse Securities, Inc., a direct correspondent for Bulls Capital Partners.  Andrew Ellis, Vice President of Originations and Correspondent Development, represented Bulls Capital Partners in the transaction.
 
“We are very pleased to add another New York based asset to our portfolio,” says Herman Bulls, CEO of Bulls Capital Partners.  “Our correspondents at Syracuse Securities are great at identifying properties that can benefit from our Fannie Mae multifamily lending program, and we look forward to working with them and Longley-Jones Companies in the future.”

Jerod Schoonmaker added, “Bulls Capital Partners is a great asset to have on our side for our customers.  They were very responsive to our borrowers’ loan requirements and did an outstanding job to get the deal closed in a very timely manner. I look forward to a working with them for years to come.”
 

About Bulls Capital Partners, LLC

Bulls Capital Partners, LLC is a Fannie Mae approved Delegated Underwriting and Servicing (DUS™) lender that offers 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, one of the nation’s largest commercial banking organizations, and Bulls Multifamily, LLC, a minority-controlled firm headed by President & CEO Herman Bulls. Mr. Bulls previously ran a successful DUS lending operation, and currently leads the securitization of tens of thousands of military housing units as President of Public Institutions at Jones Lang LaSalle, a leading global real estate services firm. Co-Founding Bulls Capital Partners, LLC with Mr. Bulls is Mark Van Kirk, Chief Operating Officer. Mr. Van Kirk previously served as Director of Counterparty Risk at Fannie Mae.

DUS is a trademark of Fannie Mae.

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