WINDSOR AT MOUNT VERNON

Boston - (July 14, 2006) - GID Investment Advisers LLC (“GID”) announced today that it has acquired on behalf of an affiliate, Windsor Realty Fund-III Acquisition LLC, (“WRF- III”), the 412-unit Mt. Vernon Place luxury apartment community. The community, which will be renamed Windsor at Mount Vernon, is located in the Sandy Springs/Dunwoody section of Atlanta, GA. The asset is located in close proximity to the Perimeter Center office market with over 27 million square feet of office space. Mt. Vernon Place provides convenient access to area employers for its residents. The office market and nearby destination retail are the driving forces in creating and sustaining demand for housing in the vicinity. In addition to proximity to major employers, transportation arteries, and MARTA stations, the property is minutes from the upscale 1.3 million-square foot Perimeter Mall anchored by retailers Nordstrom, Bloomingdale’s, and Rich’s/Macy’s.

The amenities of this garden-style community, completed in 1997, include two resort-style swimming pools, two tennis courts, a picnic area, and well-landscaped grounds. The clubhouse facility contains a fully equipped fitness center, 21-seat movie theater, business center with internet access, serving kitchen, sun room, and leasing office. Apartment amenities include nine and twelve-foot ceilings, large walk-in closets, air conditioning, full- size washer & dryers, private terraces & verandas, spacious gourmet kitchens, and oversized garden bathtubs. The property also offers both attached and detached garages as well.

Bill Chiasson, Vice President of Real Estate Acquisitions for GID commented, “Atlanta continues to be high on our list of target markets due to the strong fundamentals exhibited. This well-built, well-located, class A asset represents an excellent opportunity to increase our depth of exposure to this market.”

WRF-III is an equity co-investment joint venture between GID and California Public Employees’ Retirement System. Formed in 1998, WRF-III has acquired 23 properties aggregating approximately 8,000 apartment homes across the United States.

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