FOR IMMEDIATE RELEASE
Contact: Herman Bulls, President & CEO
+1 (202) 256-1814
herman.bulls@bullscapitalpartners.com
Bulls Capital Partners
Arranges a $5.75 million refinance of 154-Unit Apartment
Property in Columbus, Ohio.
Vienna,
Virginia, November 26, 2007
-- 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 The Barrington Group,
Inc., in the amount of $5.75 million for the refinance of
Carnaby Village Apartments, a 154-unit apartment development
in Columbus, Ohio. The property is townhouse-style
consisting of 20 buildings. Each unit has two bedrooms, one
and a half bathrooms and a full basement. Property amenities
include a pool, exercise room with locker facility, leasing
office/club house with kitchen and a banquet room.
The loan
was directly originated by Mark B. Van Kirk, CFO and Chief
Operating Officer of Bulls Capital Partners, LLC.
“We are
very pleased to expand our Midwest portfolio with this solid
project in Columbus, Ohio,” said Herman Bulls, President and
CEO of Bulls Capital Partners. “We are glad that a Fannie
Mae financing solution was available to The Barrington Group
on very competitive terms during this stressful time in the
capital markets.”
“It was a
pleasure to work with Scott Bradley and the entire
Barrington Group team on the Carnaby transaction,” said Van
Kirk. “Our team at Bulls Capital Partners was able to
respond quickly to the borrower’s needs and worked
diligently with Fannie Mae to close this transaction in a
timely manner.”
“The
Carnaby transaction was a seamless financing from the
application to closing in a difficult commercial real estate
capital markets and credit environment,” said Scott Bradley,
Chief Financial Officer of the Barrington Group. “In
addition, this was done in 30 days from start to closing. We
look forward to doing more deals with Mark and the Bulls
Capital team.”
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
The Barrington Group, Inc.
The
Barrington Group Incorporated is a privately held developer,
owner and manager of multifamily assets, with holdings in
the Midwest and Southeastern United States. Established in
1974, BGI has excelled for more than 30 years managing and
developing in the multifamily industry. Today, BGI's
principals are applying their accumulated development,
marketing and management experience to the further growth of
their for-rent and for-sale housing portfolios.
Website:
http://www.barringtonusa.com
# # #
DUS is a
registered trademark of Fannie Mae
