Sale of Waterstone at Murrieta Apartments in Murrieta, California

SCOTTSDALE, September 4, 2014 /PRNewswire/ — The Wolff Company announced the sale of Waterstone at Murrieta Apartments, the 420-unit multifamily community located in Murrieta, California. Waterstone at Murrieta was purchased in a joint venture with Silverado Canyon Partners of Laguna Hills, California. It was one of nineteen investments made by Wolff Real Estate Partners, L.P. and the eighth investment in the fund to be sold.

“The sale of Waterstone at Murrieta marks the successful execution of the investment strategy we originally conceived with The Wolff Company.  We completed a number of renovations and upgrades in response to the growth occurring in the market and we capitalized on those improvements,” said Mike Jara, President of Silverado Canyon Partners, Wolff’s joint-venture partner on the investment.

About The Wolff Company

Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.

Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended.  This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance.  A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

SOURCE: The Wolff Company

For further information: Stephen Nelson of The Wolff Company, 480.248.2519, snelson@awolff.com; or Denise Resnik of DRA Strategic Communications, 602.956.8834, denise@resnikpr.com, for The Wolff Company.