Glenfield Capital Commits Funding for Southeastern Developments

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Glenfield Capital, a private equity investment firm focused on real estate, has committed to provide the equity for The Settings Development Companies in its newest development, The Settings at Mackay Pointe, as well as three communities to be developed by Riverbrooke Capital Partners of Suwanee, Ga. Glenfield Capital funded these projects prior to year-end 2005 and officially opened offices at Monarch Plaza in Atlanta.

Glenfield Capital, a private equity investment firm focused on real estate, has committed to provide the equity for The Settings Development Companies in its newest development, The Settings at Mackay Pointe, as well as three communities to be developed by Riverbrooke Capital Partners of Suwanee, Ga. Glenfield Capital funded these projects prior to year-end 2005 and officially opened offices at Monarch Plaza in Atlanta.

The three communities slated for development by Riverbrooke Capital Partners (http://www.riverbrookecapital.com) are known as Olde Taylor, located on the Chattahoochee River in North Fulton County, Windermere Overlook in South Forsyth County, and The Villages of Creekstone in Foley, Ala., just inland from Gulf Shores. The three communities comprise more than 327 acres and are expected to have a sellout exceeding $51 million over two years.

According to Steve Hornyak, managing principal with Riverbrooke Capital Partners, working with Glenfield Capital presented unique results. “The knowledge of the team at Glenfield Capital – both in terms of the equity market and real estate – was truly impressive,” said Hornyak. “Their ability to foster strategic, out-of-the-box solutions was unprecedented. Where some private equity firms might see obstacles, the Glenfield Capital team saw opportunities.”

The Settings at Mackay Pointe is a $75 million development located near Beaufort, S.C. Glenfield Capital has funded pre-development equity and will close on the remaining equity in April. Richard McWhorter, founder and president of The Settings Development Companies credits Glenfield Capital’s market knowledge with the project’s success. “Our objective going into this project was attracting a quality equity partner,” said McWhorter. “Glenfield Capital

played an integral role in establishing a solid financial template. With this foundation in place, I anticipate future developments will be equally successful.”

“Our strategy is to conservatively grow Glenfield Capital into a leading private equity investment firm for real estate with a focus on small to mid-market opportunities,” said James P. Cate, founder and managing principal of Glenfield Capital. “The objectives with both of these projects were to discern the developers’ needs and make the opportunities possible. Funding both of these projects prior to our official opening reflects our financial wherewithal and our understanding of our clients’ unique investment needs.”

In addition to providing equity and mezzanine capital for small to mid-size developers, Glenfield Capital will pursue value-add acquisitions throughout the Southeast.

About Glenfield Capital

Glenfield Capital is a leading private equity investment firm located in Atlanta. Using a variety of equity and debt structures, Glenfield Capital principals have invested in real estate transactions valued in excess of $235 million. Founded by commercial real estate veteran James P. Cate, the firm invests primarily in value-add real estate opportunities. For more information please visit http://www.glenfieldcapital.com.

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