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Silver-McCann Apartment Group |
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Silver Capital joined forces with McCann Realty Partners, LLC in 2005 to organize a series of Silver-McCann Apartment Group funds. The funds acquire, own and operate a portfolio of apartment projects in the Mid-Atlantic and Southeast regions. Both companies believe that the demand for rental apartments will increase in the future due to the lack of affordable housing, resulting in increased occupancy and rental rates. Silver-McCann Apartment Group, L.P. -- the inaugural fund -- closed in October 2006 after acquiring seven apartment communities for $100 million. Now Silver-McCann Apartment Group II, L.P. has been organized to acquire an additional $150 million of apartment properties over the next two years. In total, Silver-McCann has acquired ten communities and 2,665 units for a total of $192 million in acquisitions in just over two years: | Silver-McCann Apartment Group I: | $100 Million in Acquisitions |
|  | HUNTER'S GLEN APARTMENTS |
| | Acquisition Date: | April 2006 | | Location: | Hunt Club Lane |
| Raleigh, North Carolina |
| (Near NC State University) | | Description: | Two-story garden community | | Total Units: | 180 | | | | |  | LAUREL SPRINGS APARTMENTS |
| | Acquisition Date: | November 2005 | | Location: | Bridleridge Drive |
| Raleigh, North Carolina |
| (Northwest Raleigh) | | Description: | Two- and three-story garden | | Total Units: | 122 | | | | |  | LAUREL OAKS APARTMENTS |
| | Acquisition Date: | November 2005 | | Location: | Long Meadow Court |
| Raleigh, North Carolina |
| (Northwest Raleigh) | | Description: | Two- and three-story garden | | Total Units: | 164 | | | | |  | HARRIS BRIDGE OVERLOOK APARTMENTS |
| | Acquisition Date: | June 2006 | | Location: | Old Harris Road |
| Dallas, Georgia
(Paulding County) | | Description: | Three- and four-story garden | | Total Units: | 332 | | | | | 
| JAMESTOWN VILLAGE APARTMENTS |
| | Acquisition Date: | October 2006 | | Location: | West Colonial Drive | | New Castle, Indiana | | (South New Castle) | | Description: | One and two-story garden | | Total Units: | 180 | | | | 
| MISSION HILLS APARTMENTS |
| | Acquisition Date: | October 2006 | | Location: | Mission Hills Drive | | Greenwood, Indiana | | (Metro Indianapolis) | | Description: | Two-story garden | | Total Units: | 267 | | | |
| NORTHLAKE VILLAGE APARTMENTS | | | Acquisition Date: | October 2006 | | Location: | Northlake Drive | | Noblesville, Indiana | | (Metro Indianapolis) | | Description: | Two-story garden | | Total Units: | 348 | | | | | Silver-McCann Apartment Group II:
| New $150 Million Fund | | | | | 
| SHILOH VALLEY OVERLOOK APARTMENTS | | | Acquisition Date: | January 2007 | | Location: | Shiloh Valley Drive NW | | Kennesaw, Georgia | | (Northwest Atlanta) | | Description: | Two-story garden | | Total Units: | 300 | | | | 
| THE BARONS APARTMENTS | | | Acquisition Date: | May 2007 | | Location: | US Hwy 80E | | Mesquite, Texas | | (Metro Dallas) | | Description: | Three-story luxury | | Total Units: | 508 | | | | |
| Carrington Green Apartments | | | Acquisition Date: | February 2008 | | Location: | McDonough, Georgia | | | (Metro Atlanta) | | Description: | Three and Four-Story Garden | | Total Units: | 264 |
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