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

Bulls Capital Partners Arranges a $7.5 Million Refinance of 144-Unit Apartment Property in York, Pennsylvania

Vienna, Virginia, March 24, 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 Victory Realty Group, LLC in the amount of $7.5 million for the refinance of Stonewood Village Townhomes in York, Pennsylvania.

Stonewood Village Townhomes consists of 144 apartment units in 18 townhouse-style buildings. Each unit has two bedrooms, one bathroom and fully enclosed concrete patios. Property amenities include swimming and wading pools and a tennis court.  York is a city of 53,000 located in southeastern Pennsylvania, about 50 miles from Baltimore, Maryland via Interstate 83.

The loan was originated by Mark B. Van Kirk, CFO and Chief Operating Officer of Bulls Capital Partners, LLC and Steve Arnold, Vice President of Columbia National Real Estate Finance, LLC. The origination team worked directly with Victory Realty Group President Gene Curran.

“In the current capital environment, Fannie Mae offers superior terms and solid execution to quality investors like Victory Realty Group,” says Herman Bulls, President & CEO of Bulls Capital Partners.  “With the financing of Stonewood Village and other deals in the pipeline, we anticipate outstanding volume in the first half of 2008 as we form new borrower relationships such as Victory Realty Group, and build on existing relationships.”

“This was our first opportunity to work with Gene Curran and Steve Arnold, and our teams at Bulls Capital Partners and Fannie Mae were focused on providing them with great service,” adds Mark Van Kirk.  “Having achieved a smooth execution in a turbulent credit market, we look forward to helping Gene and Steve with their future financing needs.”

“Mark and Bulls Capital Partners team met or exceeded all of our expectations on theStonewood Village acquisition,” says Steve Arnold, Vice President of Columbia National Real Estate Finance, LLC.  “They are an efficient organization with a customer service orientation and a common-sense approach to resolving challenges that inevitably arise.  I look forward to doing more business with BCP in the future.”

Gene Curran, President of Victory Realty Group adds, “To reach the acquisition and profitability goals we set for Victory, it’s important to seek lenders who view themselves as partners.  Both Mark and Steve proved themselves to be valuable partners. They navigated the deal through an uneasy period in the debt market and provided valuable advice that will benefit the project long after close.”

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 Columbia National Real Estate Finance, LLC

From its roots in the Baltimore/Washington real estate community, Columbia National Real Estate Finance has become a national provider of financing for income producing properties and a leader in commercial mortgage banking.  The company was founded in 1939 by the late James W. Rouse, a pioneer responsible for some of the largest suburban development and urban redevelopment projects on the eastern seaboard.  The commercial mortgage bank he started nearly 70 years ago remains committed to the hallmarks his philosophy - commitment to exceptional service, local pride and focus, and a national scope.  In addition to a strong local presence, Columbia National Real Estate Finance is a member of REFA (Real Estate Finance Alliance), a national affiliation of independent commercial mortgage bankers. Membership in this prestigious organization allows the exchange of information and sharing of experience, thereby providing an even higher level of service.  Local presence, a thorough knowledge of the markets they serve, and a solid understanding of global financing trends are all strong reasons borrowers and lenders prefer to do business with Columbia National. Since 1939, lenders and developers have come to rely on Columbia National as a trusted partner in commercial real estate financing and loan servicing.

Website: http://cnref.com

 

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