GID Investment Advisers LLC Acquires Stonehollow Business Center In Austin

Boston - (November 29, 2006) - GID Investment Advisers LLC (“GID”) announced today that it has acquired Stonehollow Business Center on behalf of an affiliate, Windsor Realty Fund-VII LLC (“WRF-VII”). The property is a six building, 384,174sf flex/industrial project located in the North submarket of Austin, TX.

Austin-based Hill Partners Inc developed Stonehollow Business Center in 1997. The property, situated on 31.3 acres, was 97% occupied at the time of sale, and is located within the Braker Center. The property is located less than one mile from MOPAC (Loop 1) and enjoys easy access to Interstate 35, US 183, and Highway 360. The project also has outstanding access to over 3 million square feet of retail such as the Arboretum shopping district and the newly developed Domain mixed use project, as well as executive housing. The project’s lead tenants include High End Systems, a leading manufacturer of concert and stage production lighting equipment and the American Cancer Society’s National Information Center.

Gary Kroll, Vice President of Real Estate Acquisitions for GID commented, “We are very excited about this entry into the dynamic Austin market. This Class A asset squarely meets the target acquisition criteria for WRF-VII with its outstanding access to highway infrastructure, retail amenities, and executive housing. Austin’s population and employment growth keep it at the top of our target market list and we look forward to further opportunities in this market.”

Hill Partners, Inc. will remain as third party leasing and management agent for this project.

WRF-VII is an equity co-investment joint venture between GID and several institutional investors. The relationship covers the entire United States. GID has full discretion over all acquisition and disposition decisions.

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 44-year history, GID has developed and acquired apartment, condominium, office, research & development and industrial properties. Today, GID and its affiliates' portfolios are invested in 17 states including over 11,000 apartment homes in 35 properties, 670,000 square feet of suburban office space in seven 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 36,000 apartment homes.
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