GID INVESTMENT ADVISERS LLC ACQUIRES CENTURY CENTER IN MEMPHIS, TN

Boston - (December 15, 2005) - GID Investment Advisers LLC (a division of the General Investment & Development Companies) announced today that it acquired the seven building Century Center in Memphis, Tennessee totaling 520,052 square feet.

Century Center was constructed from 1990-2004 by IDI of Atlanta, GA and will be renamed Windsor at Century Center. The property was 97% occupied at the time of sale and is situated on a 35.4-acre site with frontage along I-40 in Northeast Memphis. The property is located less than one mile from I-40, four miles east of I-240, as well as four miles south of the Wolfchase Galleria area – a 1.26 million square foot regional mall owned by Simon Malls – and is strategically located in close proximity to executive housing. The property is 41% occupied by Accredo Health, a wholly-owned subsidiary of Fortune 50 Medco Health Solutions (NYSE:MHS), as well as such global companies as Associated British Foods, Ethan Allen Interiors, and Clear Channel Communications.

Bob Karp, GID’s Director of Flex/Industrial Acquisitions added, “Century Center is one of the premier business parks in the Memphis market and an excellent entry point for GID. Due to GID’s experience in the management and leasing of this product type, we anticipate growing the flex/industrial component of our real estate business dramatically in the next few years as we feel the product type currently provides a better risk adjusted return than other real estate classes.”

GID’s flex/industrial portfolio has now grown to over three million square feet with locations in six markets (Atlanta, Dallas, Raleigh, Richmond, Memphis, and Philadelphia) as well as land available to develop another 650,000 square feet in the Mid-Atlantic and Southeastern U.S. Markets targeted by GID include the Mid-Atlantic region, New Jersey, New England, Chicago, Florida, California, Arizona, Texas, and the Pacific Northwest. The investment strategy is to acquire properties built since 1990 with quality tenant rosters in institutional locations.

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