SOURCE: NDC Capital Partners

October 01, 2007 11:12 ET

NDC Capital Partners Announces a Real Estate Co-Investment With Fickling & Company, Inc.

NEW YORK, NY--(Marketwire - October 1, 2007) - NDC Capital Partners LLC ("NDC") today announced a co-investment with Mosaic Residential for the acquisition of Fieldstone Apartments, a Class B+ 240-unit apartment complex. Fieldstone is located in Mebane, NC which is considered a bedroom community of the Raleigh-Durham metropolitan region. The Mebane submarket contains a limited supply of multifamily properties with only three direct competitors to Fieldstone. While the area is expected to experience only moderate economic growth, supply risk of new multifamily is not expected to be a competing factor. The Operator believes a more aggressive management plan can be implemented to yield greater income. The primary investment strategy is to reduce the property's rent discount to market during the first two years of ownership. Property amenities include a clubhouse with a fitness center, a laundry room, a swimming pool, picnic & grill areas, a volleyball court, and a children's playground. The operator plans to add a cabana and a stainless steel gas grill to the pool area.

About Fickling & Company, Inc.

The Operator is Fickling & Company, Inc., a full-service real estate firm spanning the areas of residential homes & home sites, land & timber, commercial sales & leasing, property management, and real estate development. Since 1939, Fickling & Company has been serving middle Georgia's residential real estate market that currently consists of homes & home sites in 16 counties while Fickling's commercial business covers a much broader region encompassing an eight state area. Fickling & Company is headquartered in Macon, GA and currently manages over 2,000 residential units.

About NDC Capital Partners

NDC is a private equity firm, investing capital in U.S. commercial real estate assets and related entities through joint venture structures with proven operating partners. NDC pursues a disciplined investment philosophy that focuses on value-oriented strategies, including property renovation, development, and repositioning. The foundation of NDC's investment platform is an alignment of interest created through a co-investment partnership with knowledgeable operating partners. A proven track record of producing consistently high risk-adjusted returns supports this investment philosophy.

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