SALE OF 1700-2000 WESTBOROUGH OFFICE PARK, WESTBOROUGH, MA

Boston - (September 6, 2007) - An affiliate of The General Investment & Development Companies (“GID”) announced today that it sold four buildings in Westborough Office Park to BPG Properties, Ltd (BPG) for $63,400,0000. The four buildings consist of 374,711 SF and were built in the mid to late 1980’s. BPG was chosen to purchase the property after a very competitive bidding process and the review of offers from numerous firms. Jones Lang LaSalle conducted a wide marketing campaign in providing brokerage services for the sale. The property was originally purchased in March 2003 for $49,700,000. The sale generated 27% appreciation on the aggregate investment in just over four years.

Westborough Office Park offers professional office space on an attractive wooded setting conveniently located at the intersection of Routes 495 and 9. The Park, which was constructed in phases from the mid to late 1980s, offers flexible floor plates to accommodate a diverse mix of tenants and on-site amenities that include cafés, a conference facility and shower and locker facilities.

About GID: The General Investment & Development Companies (GID) (www.generalinvestment.com), founded in 1960, are privately-held, diversified companies with substantial interests in both residential apartment and other commercial real estate throughout the United States. GID is headquartered in Boston, Massachusetts, and its various affiliates operate nationwide. Over its 46-year history, GID has developed and acquired apartment, condominium, office, research & development and industrial properties. Today, GID and its affiliates' portfolios are invested in 17 states including over 11,000 apartment homes in 37 properties, 380,000 square feet of suburban office space in two office buildings and 3.0+ million square feet of flex industrial space in ten business parks. Over the years, GID has developed and/or acquired over 36,000 apartment homes.