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

Bulls Capital Partners Celebrates Second Year Anniversary With Over $239 Million in Apartment Loans in Nine States

Second-Year Production Jumps 39% Over Phenomenal First Year With Expanded Geographic Focus

 

Vienna, VA January 29, 2007 -- Bulls Capital Partners LLC, a multi-family financial services provider and Fannie Mae Delegated Underwriting and Servicing (DUS) lender, has completed loan transactions totaling $239.3 million since its inception two years ago, the company announced today.

Formed January 28, 2005, Bulls Capital Partners had a tremendous first year, closing just over $100 million in loans. 2006 was even stronger year, with an additional $139.3 million in closed transactions, bringing the two-year total to $239.3 million.

“With loans in-process right now, we expect to cross the $300 million mark in the very near future,” said Herman Bulls, President and CEO. “There is very strong market demand for multifamily loans, and the Fannie Mae DUS product continues to be competitive in the market.  This fact, combined with our staff of dedicated, experienced mortgage professionals, a customer-centric culture, and a continued emphasis on building our infrastructure has helped us grow our business based on word of mouth and repeat customers.”

“The past year has been a time of dynamic growth for Bulls Capital Partners, in several directions,” said Mark Van Kirk, Chief Operating Officer, Chief Financial Officer and Co-Founder of Bulls Capital Partners. “We extended our geographic reach beyond the Mid-Atlantic region to successfully close transactions as far away as Colorado. We expanded our
correspondent network, worked with institutional as well as entrepreneurial clients, and hired more experienced underwriting professionals.”

Highlights of the past 12 months

•  Bulls Capital Partners expanded its client base to include large investors CAPREIT and LaSalle Investment Management (LIM), and won repeat business from entrepreneurial investors like Mark Koivu of The Canflor Group.

•  In addition to continuing to work with SunTrust Bank, Bulls Capital Partners closed transactions with Jones Lang LaSalle and several new correspondents.

•  Bulls Capital Partners financed properties in several states for the first time in 2006, including transactions in Louisiana and Ohio in May, Kentucky in June, Kansas in October and Colorado in November.

•  The firm completed its largest loan of the year in August, financing $37.7 million for four Florida properties totaling 1,010 units, on behalf a limited liability partnership consisting of Affirmative Equities Company and a fund advised by LaSalle Investment Management.

•  In the past 12 months, Bulls Capital Partners hired Alicia Cotton, a DUS veteran with close to 10 years of commercial real estate experience; Thomas Sitzler, formerly with Freddie Mac with over 20 years of mortgage lending experience; Timothy Marsh, with close to 10 years of commercial real estate experience; and Maurice Walker, with over 20 years of diversified real estate and technology experience. Mr. Walker’s addition to the team has resulted in continued emphasis on technology solutions to benefit the borrower with speed and certainty of execution during the underwriting, closing and servicing phases of loans.  Executives Douglas Westfall, Andrew Ellis, Angela Coleman and Patrick McMahon were recognized for their expanded responsibilities.

“Bulls Capital Partners clearly utilized the vast experience of its mortgage professionals to attain a strong second year,” said Phil Weber, Fannie Mae’s senior vice president of Multifamily Lending & Investment.  “Fannie Mae commends Bulls Capital Partners and is pleased to have the lender as part of its DUS network.”

John Giegerich, Managing Director/Head of Asset Securitization, SunTrust Robinson Humphrey said, “SunTrust continues to focus on expanding our ability to provide competitive products for our customers.  The addition of Bulls Capital Partners and a Fannie Mae multifamily execution to our portfolio of products has increased our effectiveness in providing total capital solutions.  We look forward to the continued integration of the Bulls Capital Partners platform into our marketing programs.  We are very pleased with this partnership and look forward to many years of continued growth.”
 

 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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