03/19/2010

Strategic Capital Partners Named a Network Member of Purpose Built Communities

SCP and Purpose Built Communities also form joint venture to benefit Avondale Meadows and other projects nationwide

Strategic Capital Partners, LLC (SCP), which is leading the Avondale Meadows project in Indianapolis, has partnered with Purpose Built Communities as a network member.

SCP and Purpose Built Communities share a mission of creating opportunities to break the cycle of intergenerational poverty, crime, community deterioration and conditions of blight by building brighter futures for neighborhood residents. They recently formed a joint venture, Strategic Community Venture Fund, LLC, that will apply as a community development entity for New Markets Tax Credits from the US Department of Treasury's Community Development Financial Institution Fund in order to further promote both organizations' missions. This financial tool will provide a significant benefit to Avondale Meadows, a comprehensive project focused on the holistic revitalization of the challenged Meadows area, and other projects across the country.

"We are very pleased to partner with Purpose Built Communities to promote our shared vision of holistic revitalization of disinvested urban neighborhoods," said Gene Zink, Chairman and CEO of SCP. "The founders of Purpose Built Communities - Tom Cousins, Warren Buffett and Julian Robertson - are legendary, and the staff they have assembled are highly skilled. All of us at SCP look forward to 'making magic' with the Purpose Built Communities team in Indianapolis and in many other communities across the country."

Added Charles B. Knapp, President of Purpose Built Communities, "We are delighted to support Strategic Capital Partners in the revitalization of the Meadows neighborhood in Indianapolis. SCP brings significant talent, skill and commitment to the community. They are building strong partnerships with public, for-profit and non-profit organizations to bring 'best in class' services to the community, and are working hard to create a community where everyone can thrive."

About Purpose Built Communities

Established in 2009, Purpose Built Communities is a nonprofit organization that catalyzes and accelerates holistic community revitalization initiatives around the country. Based on lessons learned from the revitalization of Atlanta's East Lake neighborhood and other successful efforts, Purpose Built Communities helps its Network Member organizations develop the strategies and partnerships they need to effectively address issues that trap a neighborhood and its people in intergenerational poverty. More information is available online at www.purposebuiltcommunities.org.

About Strategic Capital Partners

Formed in 2005, Strategic Capital Partners, LLC (SCP is a privately-held, real estate investment management firm that employs a value-added investment strategy of acquiring commercial and multi-family properties across the United States. SCP, through its Strategic Partners Value Enhancement Fund and its Strategic Partners Urban Development Group, has already invested more than $1 billion in total capital.

The SCP team of veterans has nearly 200 years and $20 billion of collective real estate investing experience, employing a hands-on, cycle-tested investment approach. The Urban Development Group, in particular, was formed in 2008 with the mission to redevelop distressed urban communities nationally. Its goal is "triple bottom line investing" - to serve a positive community purpose, develop in an environmentally conscious manner, and provide a good return on investment.

Strategic Capital Partners is headquartered in Chicago with offices in Indianapolis and New York.

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