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Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $690 million of committed capital, has funded a $6.5 million joint venture investment for the acquisition of Carriage Place (“the Property”), a 228-unit multifamily asset in Decatur, Georgia. Plans are to execute a value-add strategy for the Property by creating a market-leading amenity package which will include a reconfigured clubhouse and fitness center, an enhanced pool deck with a new outdoor kitchen, a new fitness center and sport court, and improvements to the property’s 1.5 mile jogging trail. Planned unit interior upgrades, new landscaping and signage, enhanced customer service and professional management practices are expected to further improve the Property’s appeal to prospective tenants.

Carriage Place was built in 1988 and features a mix of one and two bedroom units with open floor plans and large patios and balconies. The Property is gated and benefits from an attractive wooded setting in a low density environment. Carriage Place is located just north of downtown Decatur, one of Atlanta’s most desirable neighborhoods, and is less than eight miles east of Midtown. The Property is minutes from the Center for Disease Control and Emory University Hospital, Atlanta’s largest medical hub, and caters to the area’s high quality tenant base. The immediately surrounding area is experiencing a significant amount of new retail investment and development, including an expansion of the nearby DeKalb Farmers Market and the development of a new grocery anchored shopping center. LEM’s local operating partner is an experienced owner-operator who focuses on acquisitions, development and management of multifamily properties across the United States, with over 22,000 units owned or managed, including over 3,000 apartment units in the greater Atlanta market.

“We are pleased to expand our network of operating partners and make another investment in the greater Atlanta area,” said Jay Eisner, a founding partner at LEM. “Carriage Place’s infill location within the Decatur submarket and our planned value-add improvements to the property should allow the Property to attract a high quality tenant and create value for our investors as we implement our business plan.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $690 million of committed capital, has funded an $8.0 million joint venture investment for the acquisition of Pointe at Preston Ridge (“the Property”), a 266-unit multifamily property in Alpharetta, Georgia. The Property was acquired on an off-market basis with an Atlanta based sponsor. The value-add business plan for the Property includes renovating unit interiors, enhancing and expanding existing amenities, improving the exterior curb appeal and curing deferred maintenance.

Pointe at Preston Ridge was built in 1988 and features a mix of one, two and three bedroom units with open floor plans, all of which have patios or balconies. The Property is located in an attractive, wooded setting, adjacent to an eight mile running trail, a state -of-the art YMCA facility and within walking distance to local schools, a medical center and other major employers. The amenity package, which currently includes a clubhouse, pool and a modest fitness center, will be upgraded by significantly expanding the fitness center and converting existing tennis courts into a playground, outdoor kitchen area and dog park. Pointe at Preston Ridge is in the city of Alpharetta, which is located 30 miles north of downtown Atlanta and is home to a variety of Fortune 500 companies including Verizon, AT&T, ADP and UPS. The Property benefits from highly rated public schools, strong retail and excellent highway access, with the GA-400 highway only one mile away.

“The strength of the property’s location within Alpharetta, a community with strong schools, excellent retail and significant barriers to entry, made this an attractive value- add investment opportunity,” said David Lazarus, a partner at LEM. “Given the large number of jobs based in Alpharetta, our value-add improvements to unit interiors and the Property’s amenities should help attract a high quality tenant and drive value for our investors.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $690 million of committed capital, has funded a $7.7 million joint venture investment for the acquisition and renovation of Corsica Apartments (“Corsica” or “the Property”), a 141 -unit multifamily property located in Pico Rivera, California. Plans are to execute a value- add strategy for the Property, which will include renovating interiors, improving the exterior curb appeal, and installing a strong management platform with local expertise. The business plan also contemplates creating a resort-like indoor/outdoor cabana space to enhance an already strong amenity package that includes a tot lot, pool, spa, fitness center and barbeque area.

Corsica was built in 1971 and features a mix of one and two bedroom units with open floor plans and patios or balconies. Corsica is located in the city of Pico Rivera, which is 11 miles southeast of downtown Los Angeles and benefits from excellent access to the I-5, I-710, and I-605 freeways. The 605/710 corridor has significant and growing employment drivers and the lack of available land creates both high barriers to entry for new multifamily construction and increasing single family home prices. The Property is located adjacent to the intersection of two of Pico Rivera’s busiest commercial arteries and offers residents access to employment drivers, major retail centers, schools and healthcare facilities. The Corsica acquisition is the 15th transaction with LEM’s operating partner, an experienced sponsor with a portfolio of over 39 properties in California.

“After completion of our value-add renovation program, Corsica’s upgraded interiors and strong amenity package should attract high quality tenants to the Property” said Herb Miller, a founding partner at LEM. “The lack of new supply in this submarket combined with the Property’s proximity to strong employment drivers should generate increases in cash flow and value for our investors.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $690 million of committed capital, today announced the firm’s 2015 origination goals, continuing the firm’s successful 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 2015 of at least $100 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 supply and demand fundamentals should continue to generate attractive investment opportunities, particularly 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 middle-market multifamily value-add owners and operators,” said Herb Miller, a founding partner of LEM. LEM typically targets equity investments ranging between $5 million and $10 million per property, with total capitalizations ranging from $20 million to $50 million.

LEM is also pleased to announce the funding of a $7.5 million joint venture investment for the acquisition and renovation of Bear Valley Park Apartments (“Bear Valley” or “the Property”), a 260- unit multifamily property located in Denver, Colorado. The value-add business plan for the Property includes interior unit renovations, enhancements to the Property’s exterior curb appeal and upgrades to the amenity package.

“The lack of new supply in the Lakewood submarket combined with the Property’s excellent highway access, large and open floor plans and proximity to employment centers should enable Bear Valley to attract a high quality tenant and generate value for our investors.” said David Lazarus, a partner at LEM. “The Property’s panoramic mountain views and location adjacent to parks and bike trails provide additional amenities that are highly valued by our prospective tenants.”

Bear Valley was built in 2003 and features a mix of one and two bedroom units, all with patios or porches. The Property includes 122 detached garages and an amenity package that consists of a newly-renovated clubhouse with a business center, state-of-the-art fitness center, heated outdoor swimming pool, internet café, BBQ area and fire pit. The Property is located in Lakewood, an infill submarket west of downtown Denver with strong demographics, high barriers to entry and minimal new construction. The Property is immediately adjacent to Highway 285 (Hampden Avenue) and Sheridan Boulevard, which affords residents with quick, convenient access to three of the area’s major thoroughfares, I-25, South Santa Fe Drive and C-470 which allow for easy commutes to the Denver MSA’s largest job hubs. This is LEM’s first transaction in Denver. The firm’s local operating partner is an experienced owner-operator who focuses on acquisitions and property management in the major Colorado markets.

LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $690 million of committed capital, has funded a $9.6 million joint venture investment for the acquisition and renovation of Thornbury Apartments (“Thornbury” or “the property”), a 408-unit multifamily property located in Houston, Texas. The value-add business plan for the property contemplates significant upgrades to the property’s clubhouse and amenities, addressing deferred maintenance and adding new cabinetry, appliances, flooring and fixtures to upgrade unit interiors.

“With limited new supply in the immediate submarket, close proximity to high quality retail and plentiful employment drivers, Thornbury is well positioned to attract quality tenants,” said David Lazarus, a partner at LEM. “Completion of the expansion of Highway 290, which is one mile from the property, should further enhance tenant access to major employment centers in Northeast Houston and beyond.”

Thornbury was built in 1999 and features a mix of one, two and three bedroom units all with patios, 150 attached garages and a comprehensive amenity package, including two resort style swimming pools with lap lanes, private spa with gazebo, fitness center, BBQ grills and a clubhouse with fitness and business centers. Thornbury is located in the Brookhollow submarket of Northwest Houston, less than 10 miles from the Galleria and 15 miles from downtown Houston. The property is located within the Northwest Houston industrial corridor, a well-performing industrial submarket in Houston, where multi-national firms such as Baker Hughes, Cameron, Forum, Staples Distribution, Reynolds & Reynolds, GE Oil & Gas and many more occupy nearly 120 million square feet of industrial space. Thornbury is close to high quality retail, entertainment and restaurant outlets, including Walmart, Staples, Best Buy, Target, Home Depot, all within a mile. LEM’s operating partner in the transaction is an experienced Houston-based sponsor who focuses on the acquisition, development, construction and property management of multifamily assets in the major Texas markets. This is the second transaction LEM has closed with this partner.

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $690 million of committed capital, has funded a $6.0 million joint venture investment for the acquisition and upgrade of Altamonte at Spring Valley (“Altamonte” or “the property”), a 250- unit multifamily property in Altamonte Springs, Florida. Plans are to execute a value-add strategy for the property which will include major upgrades to the property’s large clubhouse and other amenities, addressing deferred maintenance and installing washer/dryers in units.

“The prior owner had updated the interiors with high quality finishes including granite countertops, new wood cabinets and stainless steel appliances” said Jay Eisner, a founding partner at LEM. “The plan with our partner is to continue this high-end renovation on the exterior of the property and create a best-in-class clubhouse and amenity package.”

Altamonte features a mix of one and two bedroom units and a complete package of on-site amenities, including: two swimming pools and a clubhouse, fitness center, playground, picnic areas, tennis courts and a car wash area. Altamonte is well located, ten miles north of downtown Orlando, in the Altamonte Springs submarket. The property has excellent visibility with over 1,000 feet of frontage along the heavily traveled Wymore Road and within two miles of the employment rich Maitland Center, a six million square foot office park. The property is less than one mile from I-4, which provides easy access to major employment centers and to downtown Orlando. LEM’s operating partner in the transaction is an experienced local sponsor with a portfolio of 14 properties in Florida. This is the seventh transaction LEM has closed with this partner.

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $690 million of committed capital, has funded $8.1 million for the acquisition and renovation of Parc@5 Apartments (the “Property”), a 104-unit apartment complex in the Downey submarket of Los Angeles, California. LEM is recapitalizing the asset through an off-market transaction with an existing operating partner. The infusion of new capital into the property will facilitate a value-add business plan designed to improve the property’s common areas and amenities and to upgrade unit interiors with high quality finishes, cabinetry and appliances.

Parc@5, which was built in 1964, features a distinctive “mid-century” modern architectural design, including a unique double height clubhouse with floor to ceiling windows. The Property includes a mix of one, two and three bedroom flats and offers a range of on-site amenities including two outdoor pools, a sun deck, a large fitness center, and three shared laundry rooms. Downey serves as the primary retail hub for many of the surrounding communities, in part due to the excellent regional highway access via four freeways, which also allow Parc@5’s tenants easy access to job hubs throughout Los Angeles County and Orange County. Renovations to the Property should attract families seeking access to Downey’s highly rated public schools in a fully amenitized and modernized apartment setting.

“By upgrading amenities and exteriors and making interiors more attractive to the area’s improving tenant base, our operating partner should drive performance at the Property” said Herb Miller, a founding partner at LEM. “The lack of new supply in Los Angeles combined with the Property’s strong location and ability to attract a high quality tenant should generate value for our investors.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $690 million of committed capital, has funded an $11.1 million joint venture investment for the acquisition and upgrade of two apartment complexes in Houston, Texas. The venture acquired Champions Centre, a 192-unit multifamily property, and Champions Park, a 246-unit multifamily property, both of which are located in the vibrant Champions submarket of Houston. The value-add business plan focuses on upgrading unit interiors, improving amenities, refurbishing exteriors and roofs and providing additional amenities to tenants including dog yards and valet trash.

Champions Park was built in 1991, and Champions Centre was built in 1994. The properties feature a mix of one and two bedroom units, all with patios and full size washer/dryers, as well as comprehensive amenity packages which include clubhouses with business centers, fitness centers, pools with BBQ areas and outdoor kitchens. Both properties are well located in the Champions West submarket, less than 20 miles northwest of downtown Houston, less than 10 miles west of the Greenspoint Business District, and 15 miles southwest of The Woodlands, with convenient access to major employment centers, medical care facilities, lifestyle conveniences, and major highways. Major employers in the Champions submarket include HP (8,500 employees), Noble Energy (consolidating 2,000 employees to the submarket), the Methodist Willowbrook Hospital, Lone Star College, Willowbrook Mall, and the Vintage Park retail/office area. LEM’s operating partner in the transaction is an experienced multifamily owner with an established local presence in the Houston metro area. This will be LEM’s first joint venture with this sponsor.

“The Champions Portfolio represents an opportunity to bring two well-located properties in line with other recently renovated properties in a strong submarket,” said Herb Miller, partner at LEM. “Improvements to the properties’ interiors and amenities should drive increases in cash flow and create value for our investors.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”), has closed a $6.4 million joint venture investment for the acquisition and upgrade of an apartment complex in Houston, Texas. The venture acquired Legacy at Westchase, a 324-unit multifamily property. Plans are to execute a value- add strategy for the property which will include addressing deferred maintenance, updating and upgrading the exteriors and interiors, installing washer/dryer units in select apartments and enhancing the property’s amenity package and common areas.

Legacy at Westchase, features a mix of one and two bedroom units, including 33 townhomes and 33 loft-style units. Amenities at the property include a leasing office/clubhouse, two swimming pools and a fitness center. The property is well situated in the Westchase submarket, which boasts more than 81,000 employees and 1,500 businesses within just 4.2 square miles. The area has 15.2 million square feet of office space and houses many multinational employers including Jacobs, Halliburton, Dow Chemical and Chevron. Additionally, Legacy at Westchase has significant frontage on Westpark Drive, near the intersection of two major interstates, which together provide easy access to major employment centers located along the Westpark and the Sam Houston Tollways. LEM’s operating partner in the transaction is an experienced owner/manager, having acquired nine properties in the Houston area over the past three years. This will be LEM’s first joint venture with this sponsor.

“This transaction combines an experienced multifamily operator with a well-located property in need of value-add improvements,” said David Lazarus, a principal at LEM. “Infusing capital into the property should enhance its appeal and create value for our investors.”

Philadelphia, PA – LEM Capital, L.P. (“LEM”), a real estate fund manager with more than $690 million of committed capital, has funded $8.3 million for the acquisition and renovation of Montclair Heights (the “Property”), a 174-unit apartment complex in the Renton submarket of Seattle, Washington. The property was acquired in partnership with TruAmerica Multifamily, an existing LEM operating partner who focuses on multifamily value -add transactions in key Western US markets. The value-add business plan contemplates an intensive interior and exterior capex program that will create contemporary finishes, including modernized amenities in the common areas.

Montclair Heights, which was built in 1990, features a mix of two and three bedroom flats and townhomes. Montclair Heights offers a range of on-site amenities including an outdoor pool, an indoor Jacuzzi, a sun deck, a large fitness center, a basketball court and a clubhouse/leasing center. The property’s Renton location provides close proximity to major highways, which allow tenants easy access to important job hubs in downtown Seattle, the Kent Valley and Bellevue/Kirkland. In addition, the property is only three miles from a large Boeing manufacturing plant. Montclair Heights is well positioned to capitalize on the strong job dynamics in Seattle, one of the country’s best performing employment markets.

“Our operating partner will focus on driving performance at the property by upgrading interiors, renovating exteriors and improving the leasing experience” said Herb Miller, a founding partner at LEM. “The lack of new supply in Renton, combined with Seattle’s strong forecasted job growth should generate value for our investors.”