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

Bulls Capital Partners Finances Two Florida Apartment Acquisitions

Repeat Borrower Returns To Fannie Mae DUS Lender
 

Vienna, VA March 2, 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 The Canflor Group to facilitate the acquisition of Morningside Apartments and Woodland Apartments in Florida for $6,110,000 and $5,970,000, respectively.

Both properties are garden-style with a variety of spacious studio, one, two and three-bedroom units. Morningside Apartments has 183 units in 24 buildings situated on an 11.52-acre site in Titusville, Brevard County, Florida, while Woodland Apartments has 169 units in 21 buildings situated on an 11.28-acre site in Orlando, Orange County, Florida.

The loans were originated by Andrew Ellis, Vice President of Originations and Correspondent Development at Bulls Capital Partners, LLC, and Tony Ferry, Vice President of SunTrust Bank. Mark Koivu, General Partner of The Canflor Group, served as Key Principal for the two borrowing entities.

“We continue to be excited about the opportunity to do business with Mark Koivu and the Canflor Group in central Florida,” notes Herman Bulls, President & CEO of Bulls Capital Partners. “Mark continues to provide Florida residents with excellent housing options that fit very well into the Fannie Mae financing program.”

“Our team worked hard to achieve a timely closing for these transactions,” added Mark Van Kirk, Co-Founder and COO of Bulls Capital Partners. “We were delighted to once again work cooperatively with Mark to complete the underwriting and closing of this transaction to meet his needs.”

“Once again the staff and management at Bulls Capital came through for us with flying colors on what were now our sixth and seventh financings with them,” said Mr. Koivu, “Their devotion to closing under a tight timeline required enormous effort by the entire Bulls Capital staff and by the third- party contractors hired by them. Their efficiency in completing the financings with minimal effort on our part is, as always, greatly appreciated. We certainly also appreciate the minimal spreads over Treasuries that Bulls Capital is able to arrange through Fannie Mae. We definitely intend to work with them on future financings.”
 

 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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