GID INVESTMENT ADVISERS LLC ACQUIRES REDWOOD CREEK APARTMENTS

Boston - (June 28, 2006) - GID Investment Advisers LLC (“GID”) announced today that it has acquired on behalf of an affiliate, Windsor Columbia Realty Fund LLC, (“WCRF”), the 232-unit Redwood Creek luxury apartment community. The community, which will be renamed Windsor at Redwood Creek, is located in Rohnert Park, California. The property is located one-quarter mile west of Highway 101, the major north/south arterial through coastal California.

Completed in December 2005 by AG Spanos Companies, the community consists of eleven-residential buildings and a recreation/leasing building. Amenities include a resort-style pool, hot tub, sport court and a well-equipped fitness center. The community offers a mix of one, two and three bedroom floor plans, averaging a spacious 1,039 square feet. All units have balconies, full size washers and dryers, crown molding in the living areas, ceramic tile entries and nine-foot ceilings. The property also offers carports and detached garages.

Matt Stuart, Assistant Vice President of Real Estate Acquisitions for GID commented, “The San Francisco Bay Area, with limited new supply and high cost of home ownership, is an apartment market we have wanted to enter for some time. Given the strong location near Highway-101 and proximity to a large collection of retail, we expect this asset to be an excellent first investment in the Bay Area.”

WCRF is an equity co-investment joint venture between GID and the Oregon Public Employees Retirement Fund.

> VISIT THE WINDSOR AT REDWOOD CREEK WEBSITE