SBV Communities Acquires LeMans at Lawndale, Fifth Multi-Family Acquisition in Greensboro

KANSAS CITY, Mo., July 16, 2013 /PRNewswire/ -- SBV Communities today announced its fifth multi-family apartment purchase in Greensboro, NC. LeMans at Lawndale, a 109-unit apartment complex, is well positioned with access to highways, shopping and recreation. SBV Communities executed the purchase and sale agreement on May 22^nd and closed the transaction on June 26^th.

"When it rains it pours. Purchasing five properties in such a tight timeframe is really optimal for our operational model. We can essentially bring all of these new properties into the fold at once, very quickly. And establishing such a solid presence in a market in one shot is something we'd love to repeat."

 - Chris Thomson, Director of Multi-Family Acquisitions

Greensboro, part of the Piedmont Triad (which also includes Winston-Salem and High Point), is the third largest city in the state. Historically known for its ties to tobacco, the city is home to the headquarters of Lorillard Tobacco Company. The city continues to diversify its economic base, in part due to its central location, which makes it an ideal logistical hub for companies with major operations such as FedEx, Mack Trucks, and RF Micro Devices. Additionally, Greensboro boasts several colleges and universities, including NCA&T and UNC Greensboro.

About SBV Communities
SBV Communities was formed in 2009 to acquire and manage multi-family real estate properties. The company builds long-term value for investors by focusing on lender-owned, B & C properties with strong value-add potential. SBV Communities' portfolio includes assets in fourteen markets.

About Spectrum Business Ventures, Inc.
Founded in 2002, Spectrum Business Ventures, Inc. is a private investment firm based in Kansas City, Missouri providing family offices, high net worth and institutional investors unique, complex and compelling business opportunities to build long-term value at low risk. The company owns and operates entities in the United States, Central America and Europe with a total enterprise value of more than $1 billion.

For more information about SBV Communities or Spectrum Business Ventures, Inc. please visit www.sbv.com or contact Justin Shaw at 816.268.1300.

SOURCE Spectrum Business Ventures, Inc.