SOURCE: NDC Capital Partners

February 24, 2011 10:57 ET

NDC Capital Partners Announces the Acquisition of Cinnamon Creek Apartments

NEW YORK, NY--(Marketwire - February 24, 2011) -  NDC Capital Partners LLC ("NDC"), in partnership with a local operating partner, is pleased to announce the acquisition of Cinnamon Creek. Cinnamon Creek is a 278-unit, class B apartment complex located in the South Texas Medical Center submarket of San Antonio, Texas. The partnership will implement a renovation program to enhance value. Cinnamon Creek is considered an A location with a high volume of drive-by traffic and access to retail corridors is excellent.

San Antonio economic fundamentals are favorable and the proximity of this property to the South Texas Medical Center, which consists of hospitals, clinics, and medical offices, and employs over 25,000 people, provides for an added appeal. In addition, immediately across the street from the property is United Services Automobile Association (USAA) corporate headquarters, which employs 14,582 and is the second largest employer in San Antonio.

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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