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

Bulls Capital Partners and Jones Lang LaSalle Arrange More Than $5 Million in Financing for Minnesota Apartments

Vienna, VA May 10, 2007  

Bulls Capital Partners LLC, a multi-family financial services provider and Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, today announced it has provided financing in the amount of $5,011,000 for the refinance of White Bear Woods II, a 75-unit apartment property in White Bear Lake, MN.    The loan was arranged on behalf of LaSalle Income and Growth Fund IV (“Fund IV”), an institutional fund managed by LaSalle Investment Management. Dave Hendrickson, Senior Vice President of Jones Lang LaSalle, originated the loan on behalf of LaSalle Investment Management, represented by Managing Director Jim Hutchinson.  Douglas Westfall, Senior Vice President of Loan Production represented Bulls Capital Partners in the transaction. White Bear Woods II is a 75-unit garden-style apartment property of one and two bedroom units located in White Bear Lake, Minnesota, a suburb of Minneapolis.  The property is the second phase of a two-phased development in which Fund IV also owns the first phase.  Amenities include a laundry facility, a ground floor fitness center, an underground heated parking garage with elevator access and an additional bike/storage space.  Unit features include wall-to-wall carpeting, eat-in kitchens, vinyl baseboards and floor in kitchens and walkout patios and decks with oversized sliding doors. “We are very pleased to complete our second transaction with LaSalle Investment Management on behalf of its investors,” said Herman Bulls, President and CEO of Bulls Capital Partners. “Our ability to respond to the needs of this very sophisticated institutional borrower is a tribute to the outstanding team of professionals we have and the flexibility of the Fannie Mae DUS loan program.” “We value our relationship with LaSalle Income and Growth Fund IV and Jones Lang LaSalle Americas,” said Mr. Westfall. “Our business is built on repeat business from satisfied customers, and we enjoy working with their team of professionals.” “The team at Bulls Capital Partners continues to be responsive to our needs,” said Mr. Hutchinson. “Their focus on customer service and the competitiveness of their rates provided us a very attractive financing alternative.”

 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.

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE: JLL), the only real estate money management and services firm named to FORTUNE magazine’s “100 Best Companies to Work For” and Forbes magazine’s “400 Best Big Companies,” has approximately 150 offices worldwide and operates in more than 450 cities in over 50 countries.  With 2006 revenue of over $2.0 billion, the company provides comprehensive integrated real estate and investment management expertise on a local, regional and global level to owner, occupier and investor clients. Jones Lang LaSalle is an industry leader in property and corporate facility management services, with a portfolio of over 1.0 billion square feet worldwide. In 2006, the firm completed capital markets sales and acquisitions, debt financings, and equity placements on assets and portfolios valued at $70.9 billion. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse real estate money management firms, with approximately $44 billion of assets under management. For further information, please visit our website, Website:  www.joneslanglasalle.com.

 

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