SOURCE: NDC Capital Partners

April 12, 2007 10:34 ET

NDC Capital Partners Announces a Real Estate Co-Investment With Management Services Corporation

NEW YORK, NY -- (MARKET WIRE) -- April 12, 2007 -- NDC Capital Partners LLC ("NDC") today announced a co-investment with Management Services Corporation ("MSC") for the acquisition of Buckhead Farm, a 295-pad, three-star manufactured housing community in Fayetteville, NC. The acquisition includes excess land allowing for the expansion of the community by 240 pads. Located just off I-95, the major north-south interstate, Fayetteville is home to Fort Bragg and Pope Air Force Base, one of the largest military installations in the world.

About Management Services Corporation

Management Services Corporation is the largest property management firm in the Central Virginia area. MSC manages over 4,000 residential units, including apartments, townhouses, duplexes, houses, mobile home parks and cottages in Charlottesville, Richmond, Roanoke, Salem, Manassas, Farmville and Harrisonburg, Virginia, and in Greenville and Butner, North Carolina.

MSC is headed by Douglas E. Caton, a former Major General in the United States Army Reserve. Mr. Caton holds the second highest peacetime military award, the Distinguished Service Medal, as well as the Legion of Merit, Bronze Star, and Purple Heart. The success of MSC is attributable to a team approach and high service standards. More than 174 full-time and fifty-five part-time personnel employed throughout Virginia and North Carolina enable Management Services Corporation to provide the same level of personal dedication today as it did as a small company over thirty-five years ago.

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.

Contact Information

  • For further information, contact:
    Name: Anthony T. Niosi
    Title: Managing Partner
    Telephone#: 212.867.4520
    E-mail Address: aniosi@ndccp.com

    Name: Eric D. Jones
    Title: Chief Investment Officer
    Telephone#: 212.867.4520
    E-mail Address: ejones@ndccp.com

    Name: Todd Cather
    Title: Partner
    Telephone#: 212.867.4520
    E-mail Address: tcather@ndccp.com