PIEDMONT PLACE

Boston - (June 14, 2005) - The General Investment & Development Companies (“GID”) announced today that it acquired on behalf of an affiliate, Windsor Realty Fund IV-2002 L.P. (“WRF-IV”), Piedmont Place located at 3520 Piedmont Road NE in Atlanta, GA. Piedmont Place is a first-class office campus located in close proximity to the Buckhead Loop and Piedmont Road in Atlanta, Georgia.

The Realty Associates Fund III sold the premier property to an affiliate of WRF-IV. GID, acting as general partner, acquired the property on behalf of WRF-IV. Nigel T. Keenan, GID’s Director of Office Investments, represented GID in the transaction. WRF-IV’s operating partner, Spaulding and Slye LLC, has selected PM Realty Group as the exclusive leasing and property management agent. “The investment is a high quality core asset located in a mature market,” said Keenan. “The attractive location and institutional quality of the improvements should provide a competitive advantage for the property as local and national economic conditions improve.”

"Piedmont Place is a beautiful project in a great location within the Buckhead submarket and moreover it has an outstanding tenant roster," said PM Realty Group’s Senior Vice President and Director of Atlanta, Bill Weghorst.

This is the second acquisition in WRF-IV, GID’s second suburban office investment fund. The investment strategy is to acquire properties built since 1980 with quality tenant rosters in institutional locations. Target markets are the Mid-Atlantic region, Philadelphia, Northern N.J., Southern Connecticut, White Plains, N.Y., Greater Boston, Suburban Chicago, Atlanta and South Florida.

Piedmont Place is in an extensively landscaped 3.2-acre tree-lined location that fronts on, and is highly visible and accessible from, Piedmont Road and is within minutes of the Buckhead Loop. The distinctive building is functionally designed with high-end finishes and excellent window lines overlooking the surrounding landscaping. The buildings accommodate tenants with space requirements from 1,000 to 45,000 square feet.

Tenants include Cooper Carry, European American, Edwards Day, BB&T, and Alexander Haas. In addition, the building is situated in close proximity to the numerous hotels, restaurants and retail amenities in the immediate area.