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Construction on 210 Trade Underway - "Air Breaking" Ceremony

Charlotte, N.C., June 20, 2007 - Mayor Pat McCrory boasted about the city's growth as he spoke during the "Air Breaking" ceremony for 210 Trade Street yesterday. Jerry Collins, President of Flaherty & Collins, expressed his confidence and excitement in the team pulling this project all together. "We sincerely want to thank the buyers of 210 and tell you that we will deliver. BSI is the premier sales and marketing firm, not just in Charlotte, but also in the state. R. J. Griffin & Company is the top high-rise multi- family general contractor in the area, and likely one of the best in the country. Because of this team, we will deliver a world-class building, in a world-class city that will meet your expectations."

"R. J. Griffin & Company is very excited to be beginning construction on 210 Trade. Besides the fact that this project is set to be one of the tallest residential towers in Charlotte, it's design and features are one of a kind - it is sure to be a striking and prominent addition to the uptown skyline," said Grant Stackhouse, senior VP and project manager for R. J. Griffin & Company.

Dramatic in design, 210 is being built atop the EpiCentre, a future entertainment and dining marketplace. The residential tower will feature more than 400 residences comprised of one- and two-bedroom condominiums, ranging from 660 to 2,500 square feet of space. Penthouse homes ranging from 2,500 to 6,500 square feet will grace the top floors of the building, offering dramatic views of the Queen City. Residences will range in price from the lower $200s to $3 million plus. Each condominium will be designed using features that epitomize sophisticated city living. Hardwood floors, stainless steel appliances, granite countertops, 10-foot ceilings, floor-to-ceiling glass, oversized tubs and showers with stone or tile finishes, and gourmet island kitchens are among the many standard features offered. The amenities offered within 210 Trade are unparalleled in Charlotte. Located on the club level, the formal resident lounge will feature a multimedia center, professional test kitchen, dining area and climate-controlled wine cellar. Also found on this level will be a two-story health & fitness center and aqua lounge which leads to a 19,000 square foot outdoor entertainment deck, featuring a resort style pool, yoga garden, putting green, and pet walk. Twenty-four hour concierge service and secured garage parking with valet service are also provided. Residents will also enjoy their proximity to the Epicentre, the exciting retail and entertainment district located on the plaza level of this development. It comes as no surprise that sales for these luxury residences are over 85% complete.

The sales center is located in the Charlotte Plaza building at 201 South College on the first floor. Ongoing project updates, as well as a construction Web cam, can be found at www.210trade.com.

About R. J. Griffin & Company Established in Atlanta in 1985, R. J. Griffin & Company provides general contracting services for all types of building construction. The company has offices in Atlanta, Ga.; Charlotte, N. C.; Nashville, Tenn.; and Orlando, Fl. R. J. Griffin is ranked 7th in the nation by Engineering News Record (2006) for multi-unit residential projects. Further information is avaliable at www.rjgriffin.com.

About Flaherty & Collins Flaherty & Collins was founded in 1993 by David Flaherty and Jerry Collins. Based in Indianapolis, the company is an Accredited Management Organization (AMO) specializing in multi-family development, construction, property and asset management. One of the Midwest's largest developers of multifamily properties, with communities in six states representing over 12,000 units, the Flaherty & Collins team is seasoned, experienced and represents some of the best and brightest real estate professionals in the business. Each property reflects outstanding design, craftsmanship and attention to detail. Further information is available at www.flahertycollins.com.