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

Bulls Capital Partners Finances $3 Million Loan for Lexington Kentucky Apartment Complex

Vienna, VA May 12, 2006 -- Bulls Capital Partners, LLC, a multifamily financial service provider and Fannie Mae Delegated Underwriting & Servicing (DUS) lender has placed a $3 million loan on a garden-style apartment complex in Lexington, Kentucky.

Augusta Arms Apartments, a 155-unit development, is situated on a 5.15 acre site. The property includes 8 studio units at 475 square feet; 34 1BR/1BA units at 591 square feet; 103 2BR/1BA units at 733 square feet; and, 10 3BR/1BA units at 877 square feet. These units are contained in 18 two-story apartment buildings. Recently acquired by WK Augusta, LLC, the current owners have vastly improved the conditions at the property and have taken the occupancy from roughly 60% to close to 90% in 9 months. Saul Kuperwasser, representative of the borrowing entity, was pleased with the speed of execution and the problem solving that was provided by Bulls Capital Partners. “We could not have asked for a more pleasant experience in our first transaction with Bulls Capital,” said Kuperwasser. “Their team from beginning to end is a first class group. Our highly acclaimed management firm, PMR Companies based out of Louisville Kentucky, with many years of experience in the field, feels that Bulls Capital is a ‘class act’.”

Bulls Capital Expands Correspondnet Relationship With Eastern Union Funding

The loan was originated by Barry Lefkowitz from Eastern Union Funding and a Correspondent for Bulls Capital Partners. “Eastern Union has developed a strong relationship with Bulls Capital,” said Lefkowitz. Their process and execution was first class. I have suggested to our President, Ira Zlotowitz, to make Bulls Capital our number one DUS lender.”

Herman Bulls, CEO of Bulls Capital Partners said, "We were very pleased to expand our lending activity into the Kentucky market. This project highlights the outstanding results which can be achieved by entrepreneurial hands-on owners to reposition and lease up an underperforming property. Additionally, we are very pleased to continue the expansion of our relationship with Eastern Funding as a correspondent for Bulls Capital Partners."

Mark Van Kirk, COO and Co-Founder said, “The interest rate environment has been actively fluctuating for the past several weeks, and the goal was to close as quickly as possible to minimize interest rate movements for the borrower. Everybody worked together in the best interest of the borrower at every stage of the process to achieve a quick closing."

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.