Capri Urban Investors, LLC Announces Purchase of 400 Unit Resort-Style Community in Oxnard, CA

PRLog (Press Release) - Sep. 9, 2010 - Chicago, IL –  Capri Capital Partners, LLC (“CCP”) on behalf of Capri Urban Investors, LLC (“CUI”) announced it has entered into a joint venture partnership with an entity controlled by Kennedy Wilson (“KW”), a real estate investment firm headquartered in Beverly Hills, California to acquire Serenade Apartment Homes for $81.5 million.  Serenade is a 400-unit, luxury apartment community, nestled within RiverPark; an award-winning master planned urban community located in Oxnard, Ventura County, California, approximately 60 miles northwest of Los Angeles.  

“We are very excited to announce the acquisition of Serenade and our first joint venture with Kennedy Wilson”, said Kenneth Lombard, President of Capri Urban Investors, LLC and Partner at Capri Capital Partners, LLC.  “Serenade is an institutional-quality, well designed, core asset that is located in a market with significant barriers to entry and will be complimentary to the other investments made within our Urban Fund to-date.”

“Serenade is a rare core apartment investment opportunity and great addition to our portfolio of multifamily properties in California,” said Robert Hart, President and CEO of Kennedy Wilson Multifamily Management Group.  “Our focus has been on supply constrained, infill West Coast markets and this acquisition is a perfect fit for our strategy.”

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About Capri Capri Partners LLC

Capri Capital Partners, LLC is the investment manager of Capri Urban Investors, LLC, a real estate private equity fund. Capri Capital Partners, LLC is an institutional real estate investment advisory firm, investing and managing commercial real estate properties and portfolios since 1992. Capri offers a broad spectrum of equity and debt products to its customers through separate account and commingled fund vehicles. Diversified assets managed on behalf of its pension fund and other institutional clients totaled $3.534 billion in fair market value as of June 30, 2010. For more information, please call 312-573-5275 or visit the company’s website www.capricapital.com.

Capri Capital Partners, LLC expressly disclaims any obligation or undertaking to release publicly any updates or
revisions to any statements contained herein to reflect any change in events, conditions, or circumstances on which any such statement is based.