SOURCE: NDC Capital Partners

March 06, 2008 13:20 ET

NDC Capital Partners Announces a Real Estate Co-Investment With Lexington Luxury Builders

NEW YORK, NY--(Marketwire - March 6, 2008) - NDC Capital Partners LLC ("NDC") today announced a co-investment with the Lexington Luxury Builders for the development of 98 luxury town home units. The property, known as Lexington Park at Rice Field, is located in Plano, Texas. Lexington Park is situated in Historic Downtown Plano on the site of what was Plano's first high school football stadium. Located in one of Dallas' largest and wealthiest suburbs, Plano's historic downtown is in the midst of a significant revitalization. The site is ideally located as part of an emerging transit-oriented development zone and is an integral part of Plano's long term strategy to revitalize downtown Plano. The property is located two blocks from a recently constructed Dallas Area Rapid Transit (DART) fixed light rail station. Downtown Dallas is approximately fifteen miles to the south. Given the proximity to DART, prospective buyers of the townhomes will find the townhomes relatively more affordable due to FNMA's Smart Commute lending program, which allows for 41% of income versus 28% to be used in determining supportable debt levels. The development will feature both two-bedroom and three-bedroom townhomes. A typical two-bedroom home with a study will consist of 1,600 square feet while a typical three-bedroom home consists of 2,200 square feet.

About Lexington Luxury Builders

Lexington Luxury Builders, founded in 1997, is a private, luxury homebuilder that designs, develops, and builds luxury residences, urban townhomes, and transit-oriented developments based in Dallas, Texas. Lexington has developed numerous townhomes from 2-4 stories in the highly desirable Uptown and Oak Lawn areas of Dallas. Density for these townhome developments has ranged from 12-25 units per acre, with prices ranging from $360,000 to over $1,000,000. Lexington aspires to build neighborhoods that are rich in both material and spirit, and contribute to the development of local communities as a good corporate citizen. In furtherance of this objective, Lexington utilizes natural, sustainable, energy efficient designs and building products, awarding it recognition as a certified Green Builder, and Energy Star partner with the EPA and a pioneer in the Leadership in Energy and Environmental Design (LEED) for residential developments.

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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