SU CASA INVESTMENTS ACQUIRES $7,050,000 APARTMENT COMPLEX IN PHOENIX, AZ

FOR IMMEDIATE RELEASE:

Contact: Peter Slaugh, Managing Member, 415-454-8002

Phoenix, AZ – July 28, 2011—Su Casa Investments, LLC announced the $7,050,000 acquisition of Barrington Regent Apartments, a 124-unit complex located at 825 West Osborn Road, Phoenix, AZ. In this “short-sale” transaction, SCI negotiated with New York Life to achieve a price of $56,854/unit exclusive of rehab/closing costs; this represents a 7.49% cap rate inclusive of all costs to reposition.

Barrington Regent Apartments is SCI’s first investment in the Phoenix market, and combined with SCI’s Utah holdings, totals 738 units; AMC, who manages all of SCI’s assets, manages over 6,000 units in the Greater Phoenix market. SCI will leverage AMC’s management platform to oversee renovations as well as manage this asset to a stabilized level.

The property is located in a mature, midtown neighborhood of Phoenix, AZ – less than ½ mile from downtown Phoenix. Barrington Regent consists of five mid-rise buildings with varying size floor plans ranging from Studios to 2-bed units.

The attractive cost basis, favorable unit mix, recovering market fundamentals and value-added potential make this an exceptional addition to SCI’s existing investments.

SCI plans to conduct a modest renovation of the property with new kitchen and bathroom packages, repaint and re-carpet. Exterior renovations will include: re-stripe and seal asphalt parking areas, add solar hot water heaters and improve landscaping.

SCI will also implement its Urban Village resident program to create a sense of “community”, hosting functions that bring the resident base together in a “village” format and provide programs for “greener/sustainable” living practices. http://www.urbanvillageproject.com.

About Su Casa Properties (SCI)
San Francisco-based Su Casa Properties, a subsidiary of Su Casa Investments, LLC acquires and repositions multi-family apartments in targeted markets throughout the Western states. SCI has invested in a series of multi-family projects incorporating “value-added” renovations to reposition the assets and stabilize cash flow. Investors in SCI include nationally-credentialed investors, first-time investors, high net-worth individuals, and institutional funds.

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