AdventureLink Aquires Key Competitor, Adventure Central

LOS ANGELES (March 19, 2009) — Continuing to forge ahead with a pattern of unprecedented growth, AdventureLink, Inc. today announced the acquisition of its key competitor, Denver — based Adventure Central Inc., in an all-stock transaction. In addition, Allegis Capital, the largest investor in Adventure Central, has backed AdventureLink with an additional investment.

AdventureLink is the largest online source for booking adventure travel, worldwide, while Adventure Central is the dominant supplier of single day adventure trips. The acquisition brings these two, leading, online travel companies together creating the most comprehensive online source for finding and booking adventure travel.

The combined companies now represent over 60,000 trips and activities sourced from nearly 1,800 suppliers in 165 countries, enabling consumers and travel agents to easily find, learn about and book some of the planet's most memorable and authentic travel experiences.

AdventureLink CEO Kelly Tompkins states, "Adventure Central is a natural fit for AdventureLink, adding a broad range of day trips to our existing multi-day portfolio. Our objective with this inventory is to forge partnerships with hoteliers, web affiliates, and others interested in utilizing our affiliate system to sell day or multi-day adventure trips."

Peter Bodine, managing director at Allegis Capital, says the combining of these top adventure travel companies creates a comprehensive source for anyone looking to find, review, or book their next great adventure trip.

"Our firm is extremely bullish on the Adventure Travel sector," says Bodine, "and AdventureLink represented one of the most attractive ways to monetize the further growth of Adventure Travel on the web."

In February, AdventureLink announced its launch of the world's first online booking system for adventure travel developed in conjunction with its partner, VAX VacationAccess. The AdventureLink system opens up booking capability for adventure travel opportunities worldwide providing easy access and distribution to over 70,000 leisure travel agents across North America.

Also in February, AdventureLink announced the completion of 'Series A' funding with top Southern California venture capital firms Anthem Venture Partners (www.anthemvp.com) and The Mail Room Fund (www.mailroomfund.com).

With the acquisition, Adventure Central will relocate to AdventureLink's L.A. headquarters and AdventureLink will continue to maintain the AdventureCentral.com website and other Adventure Central affiliate partners' sites.

# # #

About Allegis Capital

Allegis Capital is a seed and early stage venture capital firm focused on the digital economy. The venture firm has five funds and has invested in more than 70 companies including Ironport Systems, RIBBIT, LGC Wireless, SandPiper — Digital Island, Rent.com, Shopzilla, Comparnet and StepUp Commerce. Based in Palo Alto, California, Allegis has assets under management of $500M. For more information, visit: www.allegiscapital.com.

About AdventureLink

AdventureLink is the largest online source for travel professionals and consumers to book adventure travel with over 60,000 trips offered by over 1,800 tour operators worldwide. For more information, go to: www.adventurelink.com

Source : www.allegiscapital.com

AXCIENT SCORES $6 MILLION IN FIRST FUNDING ROUND

MOUNTAIN VIEW, Calif. — March 24, 2009 — Axcient Inc., an innovator of comprehensive data protection software-as-a-service (SaaS) solutions for small and medium-sized businesses (SMBs), today announced it has secured $6 million in Series A funding from investors Allegis Capital and Peninsula Ventures. The funding will be used to further enhance Axcient's platform, grow operations, expand sales and marketing initiatives, and better serve Axcient's expanding customer base.

"Axcient's technology has the potential to seriously disrupt the SMB data backup and recovery market. In today's economy, outsourced IT professionals need to increase their revenue per customer while reducing investments in infrastructure. Axcient offers one of the most compelling ways to do that. We are very impressed with Axcient's technology solution and the team behind it, and that's why we invested in the company," said Pete Bodine, managing director, Allegis Capital.

"The Axcient team brings great insight and expertise to resolving the data protection and business continuity challenges that SMBs are faced with today," said Greg Robinson, managing director, Peninsula Ventures. "We believe the Axcient solution is important because of its ability to help customers increase productivity and uptime, mitigate the risk of losing critical data, and eliminate capital expenditures. We look forward to working with Justin and his team in creating a successful partnership."

Axcient's executive bench includes CEO Justin Moore, Vice President of Sales Victor Neeley, and Vice President of Engineering Bill Culman. Neeley joined Axcient from Seagate Services (formerly known as EVault), where he served as vice president of sales; he brings more than 20 years of SMB sales management experience to Axcient. Culman held senior engineering positions developing both software and hardware products at Interwoven, Cast Iron, Tandem Computers, BEA Systems, and Vitria Technology.

"Trying macroeconomic times demand service models that free the customer from large upfront investments," said Justin Moore, CEO, Axcient. "We've been in development for the past two years to produce a data protection and business continuity platform that is built from the ground up to meet the unique business needs of the SMB market and the IT solution providers who serve them. We're proud to have the confidence of top-tier investors in the company and are excited about executing on our vision."

The Series A funding coincides with the availability of Axcient's hybrid on-premise and cloud data protection and business continuity service. Axcient's data backup and recovery service was created specifically for SMBs that are managing anywhere from 1 to 500 workstations, laptops or servers and 10 gigabytes to 10 terabytes of data. The company is targeting customers across industries including legal, financial services, healthcare, design and creative industries, retail, credit card services, Web-based companies, and education.

About Axcient

Axcient is an innovator of comprehensive data protection software-as-a-service (SaaS) solutions for small and medium-sized businesses (SMBs). The company's hybrid on-premise and cloud data protection and business continuity service is the first of its kind to make business continuity and backup simple for SMBs by delivering a secure and cost-effective way to ensure uptime and data recovery. The pay-as-you-grow service features zero infrastructure, license, or software costs, thereby eliminating capital expenditures and minimizing operating expenses to meet SMB requirements for affordability and simplicity. Axcient customers encompass a wide range of industries, including legal, financial services, healthcare, design and creative industries, retail, credit card services, Web-based companies, and education. The Axcient service is available exclusively through a nationwide network of IT solution providers. For more information, visit www.axcient.com.

Source : www.allegiscapital.com

Allegiance Debuts Engage 6.0 with DataSync Real-time Data Sharing

SALT LAKE CITY — March 31, 2009 — Allegiance, Inc. today announced the release of Engage 6.0, the only multi-channel enterprise feedback management (EFM) platform that incorporates voice-of-the-customer and voice-of-the-employee to help companies capitalize on engagement. Allegiance Engage 6.0 includes DataSync, the industry's first data synchronization system that allows feedback data to be shared in real time with diverse applications such as Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) to provide a complete view of company relationships.

Simultaneously, Allegiance is announcing the availability of expanded professional services to include data gathering and action plan consulting. Allegiance loyalty experts will work closely with companies to create a strategy to gather feedback data through all channels that are most appropriate for them, whether post transaction, receipt surveys, online, Web forms, interactive voice response (IVR), or a combination. Allegiance experts will also consult with organizations to develop and execute a strategic action plan that yields measureable improvements in customer and employee engagement.

"Customer data comes in many shapes and sizes, each of which provides a limited degree of business value. However, combining these data sources to create a holistic view of the customer that encompasses everything from their attitude to the scope of their relationship will enable an organization to make better decisions that will directly impact loyalty, satisfaction and revenue growth," said Jim Davies, research director at Gartner.

The Allegiance Engage platform is a Software-as-a-Service (SaaS) that gathers solicited and unsolicited customer and employee feedback through multiple channels (email, Web, print, phone) into a central database for analysis and action. Using DataSync, companies can combine feedback data with internal customer and human resources information. For example, by checking customer transaction history in a CRM system while reviewing customer feedback, managers can take specific action to avoid losing the customer.

"Typically, businesses have a customer service system that tracks incoming calls, a CRM tool that gives purchase insights and a database full of sales contact information. But until now, they had nothing that links them all together," said Adam Edmunds, CEO of Allegiance, Inc. "DataSync multiplies the value of Allegiance Enterprise Feedback Management and existing database-oriented applications by connecting the data within each for maximum results."

Allegiance Engage Platform 6.0 offers these new benefits:

• ENHANCED USER INTERFACE: Colorful, simple and efficient, the new Engage interface is faster and more scalable, allowing users more flexibility and ease of use.
• FLEXIBLE DASHBOARD MANAGER: Users can easily create custom dashboards with information relevant to their specific area to save and share with others.
• DATASYNC: By synchronizing data in real time with any other data system, companies can get a more complete picture of their customer information. DataSync can easily synchronize with data points from systems such as SaaS, CRM, ERP, customer support systems, flat-files, Web services, messaging systems, and more.
• THRESHOLD ALERTS: Executives receive instant notification by e-mail when customer or employee engagement levels reach pre-set levels based on a specific number of survey responses. This gives companies the ability to be proactive and take immediate steps to ensure customer and employee retention.

For further information Engage Version 6.0, visit www.allegiance.com or call 866-794-4785.

About Allegiance

Allegiance, Inc. offers feedback management software to help organizations grow customer and employee loyalty and engagement. The Allegiance Engage software platform facilitates survey creation and gathers responses and unsolicited comments in real-time into a centralized online system, saving time, effort and money. Allegiance solutions measure customer and employee engagement, revealing precise actions to grow engagement and increase revenue. Allegiance enterprise feedback management (EFM), predictive analytics and professional services combine to help businesses capitalize on engagement. For more information about Allegiance, visit www.allegiance.com.

Source : www.allegiscapital.com

Solera Networks™ Secures $7M in New Funding to Grow Network Forensics Business, Allegis Capital Leads Round and Joins Board

Lindon, UT - April 15, 2009 - Solera Networks, a provider of innovative network forensics software solutions, today announced it has raised an additional $7 million in Series B venture funding, led by new investor Allegis Capital. Solera Networks' existing investor, Canopy Ventures, is also participating in the round.

Proceeds from the funding will be used to accelerate growth in sales and marketing activities, including opening the company's new office in Washington, DC and expansion of its Japanese operations.

Solera Networks president and CEO Steve Shillingford said, "We've always believed that today's information assurance strategies are missing a fundamental component - the ability to go back in time to quickly find the source of a breach, remediate the failure, and fortify the network. We see this funding as validation for the need to shift toward planning for these inevitable failures by investing in network forensics solutions like those from Solera Networks."

Solera Networks has made significant advancements in high-speed network forensics solutions for both virtual and physical networks, including technology to capture, index, search, and replay all network traffic. The company's solutions are unmatched in speed and scalability and have been previously demonstrated at Supercomputing '08 in a real-world testing lab involving live network traffic. Additionally, Solera Networks has certified its performance with Meircom and in numerous live customer deployments.

"We can expect to see more aggressive attacks targeting vulnerabilities that have been recently classified, but for which a remedy is still under development," said Nick Selby, Vice President and Research Director of the Enterprise Security Practice at industry analyst firm The 451 Group. "Network forensics technologies, like those from Solera Networks, can replay past network events in full fidelity and help identify the scope of the exploit. Swift identification leads to protection against further exposure." Solera Networks will showcase its latest solution at RSA in San Francisco, April 20-23.

"We are very pleased to join Allegis Capital in this second round of financing for Solera Networks," said Ron Heinz, Managing Director of Canopy Ventures. "Solera Networks has combined a strong management team with excellent technology in the exciting growth market of network forensics. We believe their opportunity to serve customers in global markets is very compelling."

"Despite best efforts to protect information assets, there will always be instances where predetermination and prevention isn't possible," said Spencer Tall, Managing Director of Allegis Capital. "Organizations must shift their focus to incident response, supported by comprehensive network forensics. Determining the scope of an event is key, followed by remediation and fortification. This is where Solera Networks' open architecture, support for any network, and easy-to-use forensic applications fill the gap in today's network security platforms. It's a very exciting market opportunity."

Spencer Tall and Robert Ackerman, Managing Director and Co-Founder from Allegis Capital, will join the Solera Networks Board of Directors.

Solera Networks' growing customer base includes small businesses up to global 2000 enterprise and government entities.

About Solera Networks

Solera Networks develops high-speed network forensics solutions for both physical and virtual networks. These solutions are unmatched in speed and scalability - capturing, indexing, searching, and replaying all network traffic, even in 10Gb environments. The Solera Networks architecture provides open platform interoperability, extensible storage, and portability. These capabilities enable security professionals to quickly identify the source of any attack, remediate, and fortify against further risk. For more information on Solera Networks, visit http://www.soleranetworks.com.

About Allegis Capital

Allegis is a seed and early stage venture capital firm focused on the digital economy. The venture firm has five funds and invested in more than 70 companies including Ironport Systems, RIBBIT, LGC Wireless, SandPiper - Digital Island, Rent.com, Shopzilla, Comparnet and StepUp Commerce. Based in Palo Alto, California, Allegis has assets under management of $500M. For more information, visit www.allegiscapital.com.

AXCIENT WINS AUDIENCE CHOICE AWARD AT UNDER THE RADAR CONFERENCE

MOUNTAIN VIEW, Calif. — April 30, 2009 — Axcient Inc., an innovator of comprehensive data protection software-as-a-service (SaaS) solutions for small-and medium-sized businesses (SMBs), today announced that the company won the Audience Choice award in the Data Management category at the Under the Radar: Clarity in the Cloud Conference. Axcient CEO, Justin Moore, presented to an audience and panel of judges made up of CIOs and buyers of technology from telecommunications, healthcare, entertainment and media, finance, as well as venture capitalists and members of the press. Moore received 66 percent of the audience votes versus the other presenters in the category and was the clear favorite.

"We reviewed approximately 300 startups over the course of three months leading up to the conference and Axcient was on the top of our list immediately," says Debbie Landa, CEO of Dealmaker Media, producer of Under the Radar. "It's hard enough to fit a clear company vision and business model into a six-minute pitch, let alone impress this high-caliber crowd. Justin did both. We're thrilled Axcient took home an Audience Choice award."

Now in its 13th series, Under the Radar invited 32 of the most disruptive SaaS, PaaS, virtualization, and cloud infrastructure startups from around the globe to pitch to some of the most prominent minds in technology and business today. More than 300 startups were represented.

"This is great third party validation for our solution given the large amount of influential professionals at the conference," said Justin Moore, CEO of Axcient. "We're excited that the audience recognized Axcient's value in the cloud computing marketplace and chose to honor us in this way."

About Under The Radar Cloud Computing Conference

DealMaker Media, host of the Under The Radar | Cloud Computing Conference, operates at the intersection of business, technology, venture capital, and the future. All of its conferences are designed to inter-connect CEOs, technology executives, investors, analysts and press to track, measure, and collaborate about early stage innovation in cloud computing.

About Axcient

Axcient is an innovator of comprehensive data protection software-as-a-service (SaaS) solutions for small and medium-sized businesses (SMBs). The company's hybrid on-premise and cloud data protection and business continuity service is the first of its kind to make business continuity and backup simple for SMBs by delivering a secure and cost-effective way to ensure uptime and data recovery. The pay-as-you-grow service features zero infrastructure, license, or software costs, thereby eliminating capital expenditures and minimizing operating expenses to meet SMB requirements for affordability and simplicity. Axcient customers encompass a wide range of industries, including legal, financial services, healthcare, design and creative industries, retail, credit card services, Web-based companies, and education. The Axcient service is available exclusively through a nationwide network of IT solution providers. For more information, visit www.axcient.com.

AdventureLink Names Senior Yahoo! Executive Jeff Dossett as CEO

LOS ANGELES (May 29, 2009) — AdventureLink, Inc., the world's largest online source for booking adventure travel, today named former Yahoo! Inc. Senior Vice President Jeff Dossett as Chief Executive Officer. Mr. Dossett will be responsible for building global recognition for AdventureLink as the preeminent online marketplace for booking adventure travel.

In February 2009, AdventureLink launched the world's first online booking system for adventure travel developed in conjunction with its partner, VAX VacationAccess. The AdventureLink system opens up booking capability for adventure travel opportunities worldwide providing easy access and distribution to over 70,000 leisure travel agents across North America.

Mr. Dossett joins AdventureLink from Yahoo! Inc. where he served as Senior Vice President, Audience Experiences, North America Region. Prior to joining Yahoo!, Mr. Dossett was the Executive Producer & General Manager of MSN in the United States. He also served as CEO of Carpoint and General Manager of MSN HomeAdvisor.

In announcing Dossett as CEO, AdventureLink Chairman and Founder Kelly Tompkins states, "I love the fact that Jeff is a risk taker and an accomplished mountain climber, having summited Everest twice. But more than that, as an executive, he has demonstrated tremendous leadership both at Microsoft and most recently, Yahoo!"

Samit Varma of Anthem Venture Partners, explains, "We have been working to get Jeff on board for several months, and we're thrilled to have him. He's a perfect fit for AdventureLink. He brings not only a distinguished professional track record but also a personal passion for adventure travel."

Mr. Dossett, a passionate adventurist, states, "I'm thrilled to join the AdventureLink team. It's truly a unique opportunity to combine my personal passion for adventure travel with my desire to help build the world's largest, most effective, online global distribution and reservation system for adventure travel. My ultimate goal is to help make it easier for consumers to discover, book, and experience life — changing adventure travel using AdventureLink's technology."

Richard Bangs, co-founder of Mountain Travel*Sobek and host of the PBS series, "Adventures with Purpose," was instrumental in the choice of Dossett for CEO. Bangs, who serves on AdventureLink's board of directors, has followed the company since it started three years ago.

"AdventureLink has created a unique model in developing the world's first global marketplace for adventure travel," states Mr. Bangs. "Over the years, I've seen AdventureLink grow by leaps and bounds due to its ability to develop unique technology as well as its ability to build strategic relationships within the travel industry. When Kelly Tompkins invited me to join the board, I knew Jeff would be a great partner in helping Kelly realize his dream in making adventure travel accessible to everyone. Jeff's passion as an adventure traveler and his executive experience with online media make for a perfect match in taking AdventureLink to new heights."

About AdventureLink

AdventureLink is the largest online source for travel professionals and consumers to book adventure travel with over 60,000 trips offered by over 1,800 tour operators worldwide. AdventureLink is venture funded by Anthem Venture Partners, The Mailroom Fund, and Allegis Capital. For more information, go to: www.adventurelink.com.

Source :www.allegiscapital.com

Staccato Communications Appoints Andreas Melder as Vice President, Marketing and Business Development

SAN DIEGO — June 15, 2009 — Staccato Communications, a world leader in integrated circuits (ICs) for ultra-wideband (UWB) and wireless USB communications, today announced the appointment of Andreas Melder to the position of vice president of marketing and business development. Melder will lead worldwide marketing and business development efforts for the company and will report to Andrew Vought, CEO of Staccato Communications.

"Andreas is a very talented leader with highly relevant experience in Staccato's addressable markets," said Vought. "He brings strong business leadership to Staccato and a broad range of technical and business experiences that will help us extend our reach globally and advance the market for our wireless PAN technologies. His appointment is a further demonstration of Staccato's commitment to the growth and success of the rapidly-evolving digital lifestyle marketplace."

With more than 25 years of experience in the semiconductor industry, Melder has a proven record of technology company growth and successful exits for investors and shareholders. Prior to joining Staccato Communications, Melder was senior vice president of Intellon Corporation, (NASDAQ:ITLN), the world leader in HomePlug powerline communications. Among other successes while at Intellon, Melder was instrumental in building the necessary market momentum for HomePlug technology — helping it achieve the global recognition and dominant market position that it enjoys today.

Melder was also a founder of Microtune, Inc., (NASDAQ:TUNE), a developer of broadband and wireless RF and analog-intensive integrated devices, targeting the home networking, consumer electronics and automotive markets. During his tenure at Microtune, Melder was vice president of sales and marketing and later, vice president of business development. While at Microtune, the company expanded its presence in the cable infrastructure and digital home markets, as well as the wireless networking and consumer electronics sectors.

Additionally, Melder was part of the management team that led Tripath Technology (NASDAQ:TRPH) to the public markets. Tripath focused on providing highly efficient and linear power amplification to the communications, digital media and consumer electronics markets. As vice president of sales, marketing and corporate business development, Melder focused the company's resources on creating a leadership position within the consumer electronics marketplace, and assisted the company in leveraging its existing technology disciplines in other vital areas including xDSL, wireless, and optical communications.

Earlier, Melder also served as director of business development at Pixel Semiconductor, later acquired by Cirrus Logic, for its industry-leading graphics/image processors. Melder started his career as a signal processing engineer in Texas Instruments' Defense Segment (DSEG).

"The Staccato board of directors is excited to welcome Andreas to the executive team," said Marty Colombatto, Staccato Communications' executive chairman. "We recognize that his leadership has played a pivotal role in the successes of his previous corporate engagements, which resulted in three public offerings during the last decade, and fully expect that he will add significant value here at Staccato as well."

"Staccato Communications has a strong legacy of RF software and silicon design and has positioned itself as the leader in UWB and wireless USB solutions," said Melder. "I am delighted to be joining forces with Staccato's extraordinary management and outstanding engineering teams as well their highly experienced, world-class investors. The market timing is ideal to build upon the company's fundamental engineering excellence and core competencies and to accelerate the expansion into the many high-growth markets to be served by our unique solutions."

About Staccato Communications

Headquartered in San Diego, Calif., Staccato Communications is an Ultra Wideband (UWB) technology pioneer with applications expertise in Wireless USB, High-Speed Bluetooth, Internet Protocol (IP) and Wireless Audio/Video. The fabless semiconductor company serves the personal computing, mobile phone and consumer electronics industries with small form factor, single-chip, all-CMOS high-speed wireless solutions. Staccato's WiMedia Certified products include PHY, MAC, drivers, application software, development kits and reference designs. The Team Staccato Partner Program enables total solutions through alliances with industry leaders throughout the value chain. For more information, please visit www.staccatocommunications.com.

Allegiance, Inc. Consolidates the Enterprise Feedback Management Market by Acquiring Inquisite

The combination of Allegiance's Voice-of-the-customer (VOC) business with Inquisite's online survey business creates a powerful player in the Enterprise Feedback Management (EFM) market

SALT LAKE CITY — July 14, 2009 — Allegiance, Inc., a leading provider of voice-of-the customer (VOC) solutions that help companies capitalize on customer and employee engagement, today announced that it has acquired Inquisite, an innovative provider of online survey software based in Austin, Texas. With the purchase of Inquisite, Allegiance accelerates its leadership position in next-generation Enterprise Feedback Management (EFM) solutions.

Inquisite offers a robust and proven end-to-end survey solution designed for gathering and understanding the opinions and insights of customers, partners and employees. The flexible, self-administered survey product gives users the ability to build higher quality surveys and make better and faster decisions. Inquisite solutions are preferred by a growing customer base of Fortune 500 companies, including AT&T, Chevron, Dell, Intel, Visa, Citi, USAA, Johnson & Johnson, Marriott, Dupont, Xerox, SAP, Siemens, USPS, FDIC, REI, GAP, and Target.

"Innovative companies go to all lengths to stay in touch with the opinions and attitudes of their customers," said Adam Edmunds, CEO of Allegiance. "Inquisite solutions add an interesting dimension of self-created and self-administered survey tools. These, combined with Allegiance's centralized listening platform and analytics tools, provide unprecedented options for today's smartest businesses to assess, monitor and respond to customer needs."

Supporting Resources

• Allegiance press room
• Voice of the Customer Blog
• Become a Fan of Allegiance on Facebook
• Follow Allegiance on Twitter
• Allegiance customer success stories and white papers

About Allegiance, Inc.

Allegiance, Inc. offers next generation feedback management software to help organizations grow customer and employee loyalty and engagement. The Allegiance Engage Software platform facilitates survey creation and gathers responses and unsolicited comments in real-time into a centralized online system, saving time, effort and money. Allegiance solutions measure customer and employee engagement, revealing precise actions to grow engagement and increase revenue. Allegiance Enterprise Feedback Management (EFM), predictive analytics, and professional services combine to help businesses capitalize on engagement. For more information about Allegiance, visit http://www.allegiance.com.

About Inquisite, Inc.

Inquisite provides comprehensive solutions to facilitate the gathering, understanding and acting upon business-critical data, getting the right information to the right people at the right time. Leveraging Inquisite, critical data can be easily integrated with existing business processes and systems, providing enterprises with the confidence to make the right business decisions to drive their business forward. Headquartered in Austin, Texas, Inquisite sets the pace by providing the best combination of enterprise power, operational simplicity, and measurable value. Across every industry, hundreds of leading organizations around the world use Inquisite for their mission-critical customer and employee loyalty initiatives. For more information, visit www.inquisite.com.

Source : www.allegiscapital.com

Abacus Capital Secures $200M in Credit for Acquisitions

Abacus Capital Secures $200M in Credit for Acquisitions

Sept 18, 2007 By: Tonie Auer, Southwest Correspondent Commercial Property News

New York-based Abacus Capital Group L.L.C. has secured a $200 million credit facility for first mortgage loans to acquire properties on behalf of its discretionary commingled fund, Abacus Multi-Family Partners I L.P. Already, the firm has acquired two apartment communities with the funds. The Dallas office of Holliday Fenoglio Fowler L.P. secured the $200 million credit facility for Abacus. HFF senior managing director Mona Carlton represented Abacus in arranging a seven-year acquisition facility with Freddie Mac. The structure provides for $150 million of fixed-rate loan proceeds and the remaining $50 million is on a floating-rate basis. Loan proceeds are being used to acquire multi-family properties throughout the United States over an 18-month period, in conjunction with a discretionary equity fund Abacus recently raised, Ben Friedman, president of Abacus, told CPN today. “This facility is an acquisition facility with its money to secure indebtedness as first mortgage loans,” Friedman said. “It is a forward commitment to acquire properties on behalf of the discretionary commingled fund, Abacus Multi-Family Partners I L.P.” Through this fund, Abacus plans to acquire $400 million of apartment projects. “We saw the coming turbulence in the credit markets and wanted to get out in front of it,” Friedman said. “We wanted to lock at today’s rates and saw the risks and credit spreads going up. So, we locked in that money before the spreads went through the roof.” The fund was closed in June. Earlier this month, Abacus acquired two assets with this fund, making its entry into the Phoenix market with a $37 million acquisition of the 312-unit Renaissance at South Mountain, which was renamed Arboretum at South Mountain (pictured). Abacus plans an additional $1 million capital investment into the seven-year-old property. The complex represents the $110-million fund's second acquisition since its May launch. The Arboretum at South Mountain buy follows that of the 352-unit Eagle Ridge Apartments in Monroeville, Pa., which was acquired for $21.7 million in July. Multi-Family investment firm Abacus has acquired $2 billion of real estate assets including 21,000 apartment units. Source :www.abacuscapitalgroup.com

Abacus Stakes 387-Unit Claim for $27M Plus

GlobeSt.com Commercial Real Estate News and Property Resource

Last updated: September 19, 2007 08:41am

Abacus Stakes 387-Unit Claim for $27M Plus

By Amy Wolff Sorter

HOUSTON-A New York City-based investment group has pushed into the metro with an off-market transaction for the 387-unit Cheval Apartments. The buyer has secured a $26.5-million loan to close the deal.

Abacus Capital Group LLC has bought the two-year-old, class A complex at 7105 Old Katy Rd. from A.G. Spanos Corp. of Austin. The complex is assessed at $41.8 million by Harris Central Appraisal District.

"We've done multiple deals with Spanos in the past, which is how we found out about this," explains Gregory S. Lydon, executive vice president of Abacus Capital Group. "At this moment, we believe this property is one of the best 'amenitized' properties in the marketplace. As the midtown region continues to gentrify, the property will increase in value."

Lydon tells GlobeSt.com that Abacus is looking for other buys in Houston. Unlike Cheval Apartments, however, Abacus' next purchases most likely will be value-add plays. "Cheval was a really unique opportunity to own something class A in the area," he says. "The others we're looking at right now are different."

Lydon points out that Houston isn't the only targeted market, but the company does really like the city's fundamentals. "Everything's been improving significantly over the last six months," he adds.

Situated on 10.2 acres, the 94%-occupied Cheval Apartments has one- and two-bedroom floor plans averaging 928 sf. Rents range from $865 to $1495 per month.

The buyer secured a six-year loan from Freddie Mac. Mona K. Carlton, senior managing director in Holliday Fenoglio Fowler LP's Dallas office, arranged financing.

Source : www.abacuscapitalgroup.com