(The following is a reformatted version of a press release
issued by Cortland Partners and received via e-mail. The release
was confirmed by the sender.) 
Cortland Acquires 1,037 Apartment Homes in Florida and Texas for
$130.3 Million 
ATLANTA (July 16, 2013) -- Continuing its expansion in the
multifamily sector, Cortland Partners has acquired, in separate
transactions, three communities totaling 1,037 units in Florida
and Texas for a total investment of $130.3 million. The
properties are located in Dallas, Houston and Jacksonville. 
These acquisitions bring to nine the number of communities that
the Atlanta-based multifamily investment firm owns in its
partnership with Cortland Partners GP Fund I and a large
institutional capital partner. Sticking with the practice of
repeat lender relationships, Cortland worked with Berkadia
Commercial Mortgage LLC and Ares Commercial Real Estate Corp. to
place the debt capital for these transactions. In 2013, Cortland
and Ares have worked together on five acquisitions. 
“These acquisitions are an important part of our strategic
investment plan to bolster our presence in Florida and Texas,”
said Steven DeFrancis, CEO of Cortland Partners. “Currently we
have five additional assets in Texas and Florida under contract
to purchase over the course of the summer. We will be making
additional inroads into these states and significantly improving
our economies of scale there as well as our overall portfolio
diversity.” Over the past three years, Cortland’s ownership
portfolio has grown to almost 15,000 units in Texas and the
The three acquisitions include: 
• 510-unit Saxon Woods in Dallas for a total capital investment
of $60.4 million. “We are excited about our expanding presence
in the Dallas metropolitan area,” said Nick Wilhelmson,
Cortland’s Investment Manager. “This market has performed
exceptionally well in recent years and is poised to continue to
do so in the future. The abundance of value-add opportunities
here makes it an ideal market for us to grow in.” 
• 301-unit Halstead in Houston for a total capital investment of
$47.4 million. 
• 226-unit Reserve at Deerwood in Jacksonville for a total
capital investment of $22.5 million. The complex will become
part of Cortland’s AQUA Deerwood community. 
Cortland purchased the 391-unit Avistele at Deerwood in late
2012 and renamed it AQUA Deerwood following extensive upgrades
and rehabilitation. As part of the AQUA Deerwood community,
Reserve will also benefit from extensive renovations and
Cortland’s current alliance with a domestic institutional
capital partner provides a total of $200 million of equity
capital to acquire communities in its selected markets
throughout Texas and the Southeast. Earlier this spring,
Cortland purchased five communities totaling 2,237 apartment
homes in the Atlanta and Dallas markets for a total capital
investment of $244 million. 
About Cortland Partners: 
With a mission of “Creating Value for a Better Life,” Cortland
Partners is a full-service multifamily real estate acquisition,
development and operating platform focused on producing high-quality NOI performance that generates outsized risk-adjusted
returns. The Atlanta-based firm is active across the Southeast
and Texas. For more information visit 
# # # 
For More Information, Contact:
Tony Wilbert
The Wilbert Group
404-965-5022 (O) 404-405-3656 (C) 
(sgp) NY 
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