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

Bulls Capital Partners Arranges Over $27 Million in Financing for the Acquisition of a Three Property Portfolio in Tennessee.

Vienna, Virginia, July 3,, 2007 -- Bulls Capital Partners LLC, a multifamily financial services provider and Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, today announced it has provided financing to Lawler-Wood Housing, LLC to facilitate the acquisition of a three-property multifamily portfolio totaling 780 units in Eastern Tennessee.  The properties financed include Allandale Falls Apartments, Cross Creek Apartments and The Landings at Silver Lake, with loan amounts of $11.74 million, $11.71 million and $3.6 million respectively.

The properties, which are collectively over 95 percent occupied, are located in the Kingsport/Church Hill area of Tennessee.  On-site amenities include balconies, fireplaces, swimming pools, hot tubs, lighted tennis courts and well-appointed clubhouses.

The loans were directly originated by Mark Van Kirk, COO and Co-Founder of Bulls Capital Partners.

“We are very pleased to expand our Tennessee portfolio with these well constructed and maintained properties,” said Herman Bulls, President and CEO of Bulls Capital Partners.  “The experience of the Lawler-Wood organization will result in even higher operating levels going forward, which should position the properties for continued long-term success.”

“Completing these transactions in a very timely and cost-effective manner required enormous cooperation by all parties, particularly Lawler-Wood Housing, Fannie Mae and respective legal representatives,” said Mr. Van Kirk. “It was a pleasure to work with the Lawler-Wood team along with Fannie Mae to complete these complex transactions.”

“These were three extremely dynamic transactions from the very beginning, and Mark’s leadership and experience ensured a smooth and orderly process,” said Brian Simmons, Vice President of Lawler-Wood Housing, LLC. “The execution of these three transactions exceeded our expectations, thanks to the Bulls Capital Partners team and Fannie Mae.”

 

About Bulls Capital Partners, LLC

Bulls Capital Partners, LLC (www.bullscapitalpartners.com)  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 (www.Suntrust.com), 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 has extensive commercial real estate experience with one of the world’s leading real estate service providers.  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.

Website:  http://www.bullscapitalpartners.com

 

About Lawler-Wood Housing, LLC.

Lawler Wood Housing, LLC, has developed more than 40 residential properties including new construction and acquisition/rehab. They typically develop properties for their own account, but on numerous occasions, have provided development services to nonprofit owners whose mission includes affordable housing. In recent years, the majority of their projects have involved the acquisition and rehabilitation of existing apartment complexes using a financing structure that includes tax-exempt bonds and Low-Income Housing Tax Credits. They identify and handle the acquisition of properties, arranging the financing and equity investment, and supervise completion of the renovation. After the rehabilitation, Lawler Wood Housing provides oversight for the ongoing management of the property, a function that is performed by its sister company,
Lawler-Wood, LLC.

 

Website:  http://lawlerwood.com

DUS is a registered trademark of Fannie Mae.