SALE OF WINDSOR AT BROOKSTONE VILLAGE, IN CINCINNATI, OHIO

Boston - (February 14, 2008) - An affiliate of The General Investment & Development Companies (“GID”) announced today that it sold Windsor at Brookstone Village, in Cincinnati, Ohio for $25.5 million to an affiliate of The Connor Group. The $25.5 million sale price for the 276-unit Windsor at Brookstone Village equates to approximately $92,350 per unit. Apartment Realty Advisors conducted a wide marketing campaign in providing brokerage services for the sale. The Connor Group was chosen to purchase the property after a very competitive bidding process and the review of offers from numerous firms. Windsor at Brookstone Village was built in 1991 and consists of 13 two and three story residential buildings and a newly remodeled clubhouse building. The community is situated on 19.66 acres in the upscale Hyde Park area of Cincinnati. Brookstone Village attracts a large number of young professionals looking for a quiet environment convenient to downtown Cincinnati. The community is within walking distance of express bus service to downtown, and within a five minute drive of the Hyde Park Square, Mount Lookout Square, and Mariemont Square entertainment districts. Brookstone Village is approximately 20 minutes north of the Cincinnati/Northern Kentucky International Airport.

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 48-year history, GID has developed and acquired apartment, condominium, office, research & development and industrial properties. Today, GID and its affiliates' portfolios are invested in 18 states including over 11,844 apartment homes in 40 properties, 552,000 square feet of suburban office space in 3 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 40,000 apartment homes.