May 8, 2007
NDC Capital Partners Announces a Real Estate Co-Investment with MCRP Realty Investments
NEW YORK--(MARKET WIRE)—May 8, 2007--NDC Capital Partners LLC (“NDC”) today announced a co-investment with MCRP Realty Investments, LLC (“MCRP”) for the acquisition of Pennington Avenue Shopping Village, a four-year old grocery-anchored shopping center of 57,607 sf and a half-acre vacant out-parcel. The property is located in Trenton, NJ within a state re-development zone. The population within a three-mile radius of the property is 158,000. The anchor tenant, Supremo Food Markets, Inc., occupies 45% of the space under a long term lease. MCRP will manage the property.
About MCRP Realty Investments
MCRP Realty Investments currently owns and manages a portfolio of multifamily and retail properties in New Jersey with value in excess of $5 million. Investments are made in properties that are well located and exhibit value appreciation via rent increases, renovations, tenant turnovers, strong management and market appreciation. MCRP maintains a geographic focus in NY, NJ, and PA metropolitan markets, for investments in the retail and multifamily properties. Peter Amari, partner with MCRP, is a former executive at Capital Lease Funding Corp., a public REIT. He is also president of Parkmont Capital LLC, an advisory firm for real estate finance and investments that arranged the financing with Morgan Stanley. This will be the first partnership the principals of NDC have ventured into with MCRP.
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.