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Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $830 million of committed capital, has funded a $13.1 million joint venture investment for the acquisition and renovation of The Domain at Holcomb Bridge (the “Property” or the “Domain”), a 420-unit multifamily property in Peachtree Corners, Georgia. The Property was acquired in partnership with a local, vertically integrated owner/operator that owns 3,000 multifamily units in the Atlanta area. The sponsor’s value-add business plan includes painting the exteriors, upgrading landscaping, renovating interiors and refreshing the clubhouse and amenities. Additionally, the sponsor will institute more professional approaches to property management and marketing.

The Domain is a garden style asset that was built in 1981 with attractive stacked stone exterior accents and new siding which were completed in 2008. The Property contains a mix of one, two and three-bedroom flat and townhome units with large open floor plans and eat-in kitchens. The Property fronts a major artery in Peachtree Corners, a desirable northern suburb of Atlanta with excellent schools, strong demographics and direct access to the Alpharetta and Perimeter Center job hubs. It is situated within two miles of a significant office park geared toward technology-oriented companies. The Property is easily accessible from several major arteries; the “Golden Corridor” (GA 400), the Perimeter (Rte. 285), Peachtree Industrial Boulevard and Route 85. Additionally, substantial retail development has occurred and is underway in the Domain’s submarket, including the upscale 500,000 square foot open air Forum Shops.

“The acquisition and renovation of the Domain represents the opportunity to bring a well-located property in line with other recently renovated properties in a strong submarket,” said Jay Eisner, a partner at LEM. “Improvements to the Property’s interiors and amenities should drive increases in cash flow and help create value for our investors.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $830 million of committed capital, has funded a $9 million joint venture investment for the acquisition and renovation of Vinnin Square Apartments (“Vinnin” or “the Property”), a 148-unit multifamily property located in Salem, Massachusetts. The Property was acquired in partnership with a vertically integrated owner and operator of multifamily properties in the New England. Plans are to execute a value-add strategy for the Property, which includes a thorough interior renovation program, improving the exterior curb appeal, supplementing and enhancing existing amenities, and improving the on- site property management team.

Vinnin was built in 2002 as part of a master planned development that includes three condominium communities and a nursing home community. The Property consists of a mix of mid-rise, flat and townhome units and an excellent amenity package which includes a fitness center, a clubroom, and a dog park, as well as access to a swimming pool, tennis courts and a nature pond with trails. Vinnin is located in the city of Salem, which is 14 miles north of downtown Boston with direct commutability via regional rail from a station located just over a mile from the Property. The Property benefits from close proximity to the upscale residential communities of Swampscott and Marblehead, and is convenient to strong retail outlets, including a Whole Foods located less than a mile from the Property and the nearby Swampscott Mall.

“Vinnin represented an opportunity to acquire an institutional, quality-built asset with a fully integrated local operator” said Herb Miller, a founding partner at LEM. “The lack of new supply in Salem market combined with the Property’s proximity to the highly attractive North Shore communities should enable Vinnin to attract a high quality resident and generate value for our investors.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”) today announced the firm’s 2016 origination goals, continuing the firm’s business of investing with high-quality, local real estate operating companies to acquire value-add multifamily properties. LEM invests in acquisitions and recapitalizations of apartment properties (including senior housing and student properties) located in infill locations in primary markets on the east and west coasts, the four major cities in Texas, Nashville, Chicago, Minneapolis, Denver and other cities on a select basis. “We have an equity investment target for 2016 of at least $150 million, or 15 to 20 value-add acquisitions where we see the ability to manufacture yield through capital improvements and better management,” said Jay Eisner, a founding partner of LEM. “Strong multifamily demand fundamentals should continue to generate attractive investment opportunities in the Class B multifamily sector. By investing in well-occupied properties in infill locations with diverse employment drivers, we seek growth in rents and values as a result of implementing our value-add business plans.”

LEM’s structured equity program provides up to 85% of the required equity behind the senior mortgage debt. “Our structured equity program continues 12 years of addressing the needs of our clients in our established niche – providing solutions to multifamily value-add owners and operators,” said Herb Miller, a founding partner of LEM. LEM typically targets equity investments ranging between $5 million and $12 million per property, with total capitalizations ranging from $20 million to $50 million.

LEM is also pleased to announce the funding of a $9.5 million joint venture investment for the acquisition and renovation of Trails at River Park (the “Property”), a 420-unit multifamily property in North Arlington, Texas. The Property is LEM’s second investment in the submarket and was acquired in partnership with an existing LEM sponsor who is a local, vertically integrated owner/operator that owns over 13,000 units in Texas. The sponsor’s value-add business plan anticipates upgrading amenities, including repurposing a non-functional second clubhouse into a large fitness center with a sun deck, updating the property’s exterior appearance and renovating unit interiors with contemporary appliances and finishes.

“The lack of new supply in the submarket as well as rising rents in other submarkets of the Dallas/ Fort Worth Metroplex should continue to push tenants toward more affordable options,” said David Lazarus, a partner at LEM. “Our proposed business plan is designed to offer upscale amenities and modern interior finishes at an attractive price point, which should increase cash flow and help create value for our investors.”

Trails at River Park is a garden style asset that was built in 1980 and features a mix of one and two- bedroom units with open floor plans and patios or balconies; some units feature loft style apartments. The Property is centrally located within the DFW Metroplex with close proximity to major commuter arteries and the DFW International Airport. North Arlington is home to AT&T Stadium (Dallas Cowboys), Globe Life Park (Texas Rangers), Six Flags over Texas and other entertainment attractions. Additional nearby job drivers include 96 million square feet of industrial, warehouse and distribution facilities and a General Motors assembly plant, which recently completed a $1.4 billion expansion. New office and residential development continues to improve the submarket, with D.R. Horton recently announcing the relocation of its headquarters to the area, and ongoing building within Viridian, a master planned community that will feature a new elementary school, single family homes, and significant office/medical and retail space.

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $830 million of committed capital, has funded a $7.8 million joint venture investment for the acquisition and renovation of Ashley Forest (the “Property”), a 220-unit multifamily property in Alpharetta, Georgia. The Property was acquired in partnership with a vertically integrated owner/operator that has a substantial portfolio in Atlanta and is a repeat LEM sponsor. The sponsor’s value- add business plan incorporates modernizing the exteriors, upgrading unit interiors and undertaking a substantial renovation of the amenity package including a reconfigured clubhouse/leasing center, an enhanced pool area with outdoor kitchen and a high quality fitness center. The sponsor will also institute more professional approaches to property management and marketing.

Ashley Forest is a garden style asset that was built in 1986 and features a mix of one, two and three-bedroom units with open floor plans and patios/balconies. The Property is located in Alpharetta, a desirable suburb of Atlanta with excellent schools, strong demographics, expensive single family home prices and access to numerous job hubs. Due to the lack of available land and increasing construction and development costs, Alpharetta has significant barriers to entry for new multifamily apartment properties.

“We are pleased with the opportunity to acquire a second property in Alpharetta due to the community’s strong demographics and limited pipeline of new supply,” said Jay Eisner, a partner at LEM. “The business plan is designed to attract high- quality prospective tenants with newly upgraded interiors, enhanced amenities and curb appeal, and professional property management at an affordable price.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $830 million of committed capital, has funded an $8.7 million joint venture investment for the acquisition and renovation of Abbington Place (the “Property”), a 360-unit multifamily property located in Greensboro, North Carolina. The Property was acquired in partnership with an experienced, vertically integrated owner/operator that is headquartered in Charlotte and has a substantial portfolio in the Piedmont Triad region. Plans are to execute a value- add business plan at the Property that will include modernizing the exteriors, upgrading unit interiors and undertaking a major renovation of the amenity package, including a reconfigured clubhouse.

Abbington Place is a garden style asset that was built in 1997 and features a mix of one, two and three-bedroom units, a large clubhouse/fitness center and expansive grounds. The Property is located in Greensboro, which is the largest city in the Piedmont Triad region and an hour’s drive from both Charlotte and Raleigh-Durham. Greensboro benefits from its central location within North Carolina and has become the state’s logistics and manufacturing hub. Abbington Place is situated in a mature submarket with minimal new construction and is minutes from Greensboro’s largest employment hubs and the city’s primary retail corridor. The Property benefits from significant frontage on the heavily traveled Bridford Parkway and excellent highway access.

“Infusing fresh capital into Abbington Place allows us to implement a physical value add program that will improve the Property’s unit interiors, amenities and curb appeal” said David Lazarus, a partner at LEM. “The opportunity to provide prospective tenants with updated interiors and amenities at an affordable price should create value for our investors.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $780 million of committed capital, has funded a $6.5 million joint venture investment for the acquisition and renovation of Emerald Forest (the “Property”), a 320-unit multifamily property located in Durham, North Carolina. Plans are to execute a value-add business plan that will include renovating unit interiors, heightening curb appeal, submetering utilities, upgrading amenities and improving onsite management.

Emerald Forest is a garden style asset that was built in 1985 and features a mix of studios, one, two and three-bedroom units. The Property is located in South Durham, within 20 minutes of downtown Durham and downtown Raleigh, and less than three miles west of the Research Triangle Park (“RTP”), which is the largest planned research park in the country. Emerald Forest benefits from its positioning on a major artery and offers excellent drive by visibility to the RTP’s 42,000 employees. The Property was acquired in partnership with a best in class vertically integrated owner/operator with substantial experience in the Raleigh-Durham market.

“The acquisition of Emerald Forest represents the opportunity to implement a physical and management value add program on a well located and high quality asset” said David Lazarus, a partner at LEM. “The Property’s proximity to the Research Triangle Park, upside potential and ability to attract a high quality tenant should allow LEM to generate value for our investors.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $780 million of committed capital, has funded a $4.0 million joint venture investment for the acquisition and renovation of Union Heights (the “Property”), a 220-unit multifamily property located in Colorado Springs, Colorado. The value-add business plan contemplates transforming the clubhouse and amenity package by reconfiguring and expanding the fitness center, expanding the pool deck and adding a hot tub, with unit interiors receiving new appliances and other renovations. Curb appeal enhancements should allow the property to capitalize on the Property’s excellent frontage and high visibility at the intersection of two major arterials in the Northeast submarket of Colorado Springs.

Union Heights is a garden style asset that was built in 1984 and features a mix of one- and two-bedroom units. The Property is located in northern Colorado Springs and benefits from scenic views of Pikes Peak, walking distance proximity to a Target and Safeway anchored retail center, and the rapidly expanding University of Colorado at Colorado Springs. Union Heights’ submarket features strong demographics, substantial job drivers, and minimal new construction. The Property is located less than four miles from the I-25, which is the MSA’s most heavily traveled north/south artery and the primary driving route to Denver. The Property was acquired in partnership with a repeat LEM sponsor who is a vertically integrated multifamily owner and operator headquartered in Colorado Springs.

“The acquisition of Union Heights represented an opportunity to purchase a high quality asset and implement a value-add renovation program with a high-quality local operator” said David Lazarus, a partner at LEM. “The Property’s central location, ability to attract a high quality tenant, and excellent highway access should enable LEM to generate value for our investors.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $780 million of committed capital, has funded a $6.97 million joint venture investment for the acquisition and renovations of The Fountains Apartments (“Fountains”) and Landmark at Waverly Place Apartments (“Waverly”, together, the “Portfolio”). Fountains is a 542-unit property located in Palm Beach Gardens and Waverly is a 208-unit property located in Melbourne, Florida. Plans are to execute a value-add strategy for the Portfolio, which will include improvements to the building exteriors, upgrades to the clubhouse and amenity packages, minor renovations to the unit interiors, addressing deferred maintenance, and improving management through our local partner.

The Portfolio contains a mix of one, two, and three bedroom units featuring open floor plans with patios or balconies. Fountains is located in Palm Beach Gardens and is conveniently located less than five miles from the ocean and its accompanying tourist beaches. Known as the “Golf Capital of the World” with 12 professional golf courses within the city limits, Palm Beach Gardens features high-end retail, restaurants, hotels, and a variety of employment drivers. Fountains benefits from excellent highway access to both I-95 and the Florida Turnpike, and is proximate to the heavily traveled intersection of PGA Boulevard and Military Trail. Waverly is located in the city of Melbourne, 65 miles southeast of Orlando, in the heart of Florida’s Space Coast. In addition to being a tourist destination, Melbourne has a strong economy rich in defense, aviation, and technology companies.

“Fountains was extensively renovated in the early 2000’s with condominium quality interior finishes and Waverly received interior upgrades in 2012.” said Jay Eisner, a founding partner at LEM.“Our partner’s management expertise combined with improvements to the properties’ curb appeal and amenities should create substantial value for the partnership.

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $690 million of committed capital, has funded an $8.5 million joint venture investment for the acquisition and renovation of The Canopy Apartment Villas (“Canopy” or “the Property”), a 296-unit multifamily property located in Orlando, Florida. Plans are to execute a value-add strategy for the Property, which will include extensive repairs and improvements to the building exteriors, upgrades to the clubhouse and amenity package, minor renovations to the unit interiors, and employing a more attentive management team.

“Canopy was extensively renovated in 2008 by its institutional owner with new roofs, siding, windows, and unit interiors with high quality finishes including granite countertops, new maple cabinets, ceramic tile flooring and stainless steel appliances” said Jay Eisner, a founding partner at LEM. “Although built in 1981, this is an opportunity to acquire a unique like-new product at an attractive basis.”

The Property features a mix of one and two bedroom villa-style units, along with two and three bedroom townhome-style units. The direct-access units feature open floor plans with patios. Canopy has a unique setting which feels very similar to that of a traditional single family neighborhood. Canopy is located six miles southeast of downtown Orlando, situated just off of the heavily traveled Semoran Boulevard. The Property benefits from excellent access to the 408 Expressway and Interstate 4 highway. Located less than five miles north of the Orlando International Airport, six miles from downtown Orlando, and within 25 minutes of Walt Disney World, Universal Orlando and Seaworld, residents benefit from being proximate to a variety of employment drivers. Additionally, Canopy is in close proximity to several major hospitals, including the 650-acre health and life sciences park known as Lake Nona Medical City, and a number of colleges and universities, including the University of Central Florida which has the largest undergraduate enrollment in the country, according to the US News Short List.

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $690 million of committed capital, has funded a $5.5 million joint venture investment for the acquisition and renovation of Stony Brook Village Apartments (“Stony Brook” or “the Property”), a 165-unit multifamily property located in East Haven, Connecticut. Plans are to execute a value-add strategy for the Property, which will include renovating unit interiors, improving the property’s exterior curb appeal, upgrading amenities, and improving customer service by employing a professional management team.

Stony Brook was built in two phases, 40 units in 1989 and 125 units in 1996. The Property features a mix of one, two and three bedroom units with open floor plans and patios or balconies. Originally built as condominiums, Stony Brook has “condominium-quality” features including a full amenity package, architecturally appealing building designs, large in -unit laundry rooms, and attached garages or carports for many of the units. The Property has a beautiful setting with the entrance road crossing through a lush meadow area and creek before winding up a serene wooded hillside elevating many of the Property’s buildings and providing residents with panoramic views. The property is conveniently located in the city of East Haven, which is five miles east of downtown New Haven and benefits from excellent access to the Interstate 91 and Interstate 95 highways. Residents also benefit from proximity to the Branford and East Haven beaches, the Clinton Crossing Premium Outlets, and other local and regional attractions. Anchored by Yale University, New Haven’s economy continues to improve driven by the education, research, healthcare, and the biotech sectors. LEM’s local operating partner is a vertically integrated owner and operator of multifamily properties in the Northeastern U.S., focusing on acquisitions in the Connecticut markets.

“After completing the value-add renovation program and installing a more attentive management approach, Stony Brook has the potential to be a best in class asset within its submarket” said Herb Miller, a founding partner at LEM. “The lack of new supply in the market and submarket combined with the Property’s proximity to strong employment drivers should enable Stony Brook to attract a high quality resident and generate value for our investors.”