SBV Communities Acquires Lexington Commons, Fourth Multi-Family Acquisition in Greensboro

KANSAS CITY, Mo., July 3, 2013 /PRNewswire/ -- SBV Communities today announced its fourth multi-family apartment purchase in Greensboro, NC. Lexington Commons, a 106-unit apartment complex, is located just north of downtown Greensboro and bolsters the company's recent activity in the market. SBV Communities executed the purchase and sale agreement on May 22^nd and closed the transaction on June 26^th.

"Our recent experience in Greensboro has made us pretty bullish on the city. We believe we will be able to add and derive significant value from our purchases. Lexington Commons is no exception. We expect our activity level in Greensboro to continue and are actively seeking additional opportunities."

 - 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 SBV Communities