Woodlark closes on Raiders Ridge deal.

WHITE PLAINS, NY: Woodlark Capital LLC announced that it closed on the $26.6 million acquisition of Raiders Ridge Apartments in Murfreesboro, Tenn.

Completed in 2006, Raiders Ridge Apartments serve the student population of Middle Tennessee State University, the fastest growing and second largest university in the state.

The apartment complex is situated on 22 acres and consists of eight three-story apartment buildings and a clubhouse.

Fully occupied through the end of the 2007 academic year, the property offers two-, three- and four-bed-room apartments totaling 696 beds in all. "We're very pleased to have completed this high quality transaction so successfully and in such record time," commented Ari Rosenblum, president of Woodlark.

"The fact that we were able to do so is testament not only to the confidence of our investors--many of whom are repeat customers--but also to the industry reputation we have built in just five short years for our expertise in the student housing real estate segment. Based on occupancy, local demographics, location, property age and very compelling price and expected yield, Raiders Ridge Apartments, LLC is a tremendous asset to own. We are proud to have been able to add this property to our portfolio."