SOURCE: NDC Capital Partners

December 04, 2007 17:20 ET

NDC Capital Partners Announces a Real Estate Co-Investment With Mosaic Residential, Inc.

NEW YORK, NY--(Marketwire - December 4, 2007) - NDC Capital Partners LLC ("NDC") today announced two co-investments with Mosaic Residential, Inc. for the acquisition of Briardale Apartments, a 160-unit apartment complex, and Prairie Place Apartments, a 208-unit apartment complex. Both properties are located in the city of Plano, Texas along Independence Parkway, which has significant daily drive-by traffic thereby supporting the leasing of the units. The Dallas Fort Worth (D/FW) metropolitan area has experienced significant job growth during the last twelve months with the trend projected to continue. Mosaic views both properties as classic value-add opportunities. The primary investment strategy is to implement a rehab program with a primary focus on interior unit upgrades.

About Mosaic Residential, Inc.

Mosaic is an innovative and growing, full-service multifamily investment and property management organization located in Houston, Texas. Each of the founding partners, with an average of over fifteen years of relevant real estate industry experience, brings to the team proven success in identifying, developing, acquiring, managing, and disposing of real estate investments.

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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