SU CASA INVESTMENTS & APARTMENT CAPITAL MANAGEMENT ANNOUNCE ACQUISITION OF 104 APARTMENT UNITS IN SA

FOR IMMEDIATE RELEASE

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

SU CASA INVESTMENTS & APARTMENT CAPITAL MANAGEMENT ANNOUNCE ACQUISITION OF 104 APARTMENT UNITS IN SANDY (SALT LAKE CITY), UTAH

San Francisco, CA – Su Casa Investments, of Ross, California and Apartment Capital Management, of San Francisco, California, announced on November 12, 2009, the acquisition of Liberty Heights Apartments, a 104-unit apartment complex in Sandy, Utah.

Built in 1993, Liberty Heights is a good mix of one, two & three-bedroom apartment units. Units feature garages and spectacular views of the Wasatch & Oquirrh Mountains. Liberty Heights is located on 1300 East, a major arterial near I-15 and I-215. The property is within walking distance of employers and shopping.

According to Tim Scherer of Apartment Capital Management, “Liberty Heights will provide solid current cash flow.” Peter Slaugh, of Su Casa Investments, said the partnership originated a 10-year Fannie Mae loan with five years of interest-only payments. Slaugh and Scherer have retained AMC, a third-party management company based in Salt Lake City.

The acquisition marks the second venture between Apartment Capital Management and Su Casa Investments, the first being their acquisition of the 80-unit Mulberry Park Townhomes in April. Apartment Capital Management intends to acquire several other apartment properties of similar size in the Western U.S. in the near term. Su Casa Investments already owns a number of properties in the region.

About Su Casa Properties (SCI)
San Francisco-based Su Casa Properties, a subsidiary of Su Casa Investments, LLC, acquires and repositions multifamily 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-credentialled investors, first-time investors, high net-worth individuals, and institutional funds.

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