Done Deals: Bulls Capital Partners Arranges Financing of $2.68M for 72-Unit Apartment Property in Fort Collins, CO.

Tuesday, April 14, 2009

Bulls Capital Partners Arranges Financing of $2.68M for 72-Unit Apartment Property in Fort Collins, CO.

VIENNA, VA, April 14, 2009 -- Bulls Capital Partners LLC, a multifamily financial services provider and Fannie Mae Delegated Underwriting & Servicing (DUS®) lender, today announced it has provided financing to Willow Grove, Ltd. in the amount of $2,680,000 for the refinance of Willow Grove Apartments (bottom right photo) in Fort Collins, CO.

Willow Grove Apartments is a 72-unit garden apartment complex built in 1990 with a mixture of one and two bedroom units.

The complex is part of a community development which shares amenities such as a pool, spa and fitness center.

The loan was originated by Mark Van Kirk (top right photo) at Bulls Capital Partners, LLC. Tom Sibbald of Shield Street Corporation represented the Borrower.

Herman Bulls, (top left photo) President & CEO of Bulls Capital Partners said, "A testament to our focus on customer service at Bulls Capital Partners is our ability to work with borrowers and structure deals which are responsive to their long term ownership needs and the current economic environment."

Bulls continued, "It was very important for us to retain this maturing loan in our portfolio and we like the long term outlook of the Colorado market."

"In the current multifamily debt market, most transactions have some challenges to overcome," said Van Kirk, co-founder of Bulls Capital Partners.

"The Fannie Mae personnel working on the Willow Grove transaction were extremely responsive to all issues that arose during the origination and closing process. This commitment by Fannie Mae was the catalyst to a timely execution for this transaction."

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 Goldman Sachs Commercial Mortgage Capital, L.P. and Bulls Multifamily, LLC, a minority-controlled firm headed by 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 Van Kirk, who previously served as Director of Counterparty Risk at Fannie Mae.

Website: http:// http://www.bullscapitalpartners.com/