November 15, 2006
NDC Capital Partners Announces a Real Estate Co-Investment with TVO North America

NEW YORK--(MARKET WIRE)—November 15, 2006-- NDC Capital Partners LLC ("NDC") today announced a co-investment with TVO North America ("TVO") for the acquisition of a 320 Unit, Class B- apartment complex, built in 1981. The property, known as Carrollton Oaks Apartment Homes, is located within the Dallas/Ft. Worth metropolitan area in the town of Carrollton, Texas. The property was formerly known as Homes of Azalea Park. Dallas/Ft. Worth has enjoyed strong growth during the last twelve months, adding more than 68,000 new jobs. The ownership will implement a capital improvement program designed to enhance the long term value by increasing curb appeal and reducing on-going maintenance.

About TVO North America
 
TVO North America, a TVO Groupe Company, is one of the nation's largest privately held real estate service companies in North America.  It acquires, develops and manages real estate assets while providing acquisition sponsorship and capital markets expertise in the United States and Mexico. TVO North America's investment opportunities include multifamily housing communities, hospitality properties and medical sector properties such as imaging & surgical centers, professional office buildings and both community & special care hospitals. In 2006, it was recognized as a “Top 50 Multi-Family Owners” by the Multifamily Executive. Its principal offices are located in Chicago and El Paso with field offices located in Atlanta, Dallas and Houston. For more information on TVO North America, visit their website at www.tvores.com.
 
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.
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