NEW YORK--(BUSINESS WIRE)—February 3, 2005--NDC Capital Partners LLC (“NDC”) today announced a co-investment with the PB Bell Companies, for the development of a 202 unit luxury apartment complex, known as Desert Parks Vista. The site is located in the North Scottsdale, Arizona community of DC Ranch, a nationally acclaimed private golf and residential community located in the western foothills of the McDowell Mountains, in the geographic center of Scottsdale.

About the P.B. Bell Companies

The P.B. Bell Companies is one of Arizona’s leading providers of multifamily services and luxury apartments. Founded in 1975, the company has successfully developed, acquired, and managed award winning multifamily communities throughout the Arizona Market.  P.B. Bell emphasizes a well-trained, experienced and motivated work force which is customer service oriented. The Desert Parks Vista project is P.B. Bell’s second development in DC Ranch. The company earned prestigious local and national awards and recognition for its first DC Ranch luxury rental product, now called The Village @ Market Street, which recently were converted to condominiums. 

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. The Company has been funded with initial discretionary capital commitments in excess of $50 million from strategic equity 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.