TRECAP Partners

TRECAP Allocates $86 Million in Apartment Properties to Townsend Separate Account

PHILADELPHIA, PA – (November 7, 2011) – TRECAP Partners LLC has allocated interests in three apartment properties acquired earlier this year to a Townsend-managed separate account. The multi-family properties, located in Beaverton, Oregon and Raleigh, North Carolina total $86 million in capitalization, including TRECAP’s approximately $26 million in committed equity. TRECAP will continue to asset manage the properties on behalf of Townsend and plans to acquire additional properties for the separate account.

The properties include the Bell Falls River Apartments, a 284-unit complex in Raleigh, and the two Beaverton investments: Monte Vista Apartments and Cedar Crest Apartments, totaling 542 units. Using a warehouse line of capital through its affiliation with Hunt Companies, TRECAP acquired the properties opportunistically earlier this year joint venturing with local operating partners.

TRECAP's Chief Executive Officer Douglas A. Tibbetts said the company "looks forward to expanding our relationship with Townsend--we're positioned to provide attractive investments and manage them to optimize performance and values."

“Through our extensive pipeline and operating partner relationships we have been able to acquire highly attractive multifamily investments for our institutional clients,” said Edward Oprindick, TRECAP’s senior vice president and managing director. “The apartment sector presents a highly competitive environment for finding solid investments and we’re pleased to work on behalf of Townsend to satisfy their needs.”

ABOUT TRECAP PARTNERS
TRECAP provides real estate investment management and advisory services to pension funds, corporations, sovereign wealth funds, endowments, insurance companies, banks and high-net-worth money managers. The company has $3.4 billion* in assets under management and supervision in the United States and Europe and its portfolios comprise holdings across all commercial property sectors--apartments, office, retail, and industrial. TRECAP is an affiliate of Hunt Companies, Inc., a leading national privately-owned real estate investor, manager, and developer.

TRECAP Partners’ portfolio* includes:
Multifamily: 20,859 units
Office: 3.3 million square feet
Retail: 2.2 million square feet
Mixed-Use: 1.5 million square feet
Industrial: 540,000 square feet

A SEC registered investment advisor, TRECAP seeks to achieve long-term relationships with investors through proper alignment of interests, transparent reporting, frequent and timely communications, and most importantly an enduring commitment to meeting fiduciary responsibility. For more information, visit www.trecappartners.com.

*As of 6/30/2011

ABOUT HUNT
Founded in 1947, Hunt Companies, Inc. has become a leading national privately-owned real estate investor, manager, developer, and contractor. Hunt’s focus and experience is in sectors such as public-private partnerships, military housing, mixed-use, multi-family housing, master-planned communities, government build-to-lease programs, retail, and office. The services Hunt provides to these sectors include Investment Management, Development, Construction, and Asset and Property Management.

Hunt and its affiliates have $10 Billion of Assets Under Management. These assets include 116,470 Multi-Family Housing units, 4.7 million square feet of commercial, 1.5 million square feet of industrial and 2.1 million square feet of retail. Hunt’s expertise is also comprised of over 89,000 housing units built, thousands of acres of land developed, and over 400 projects completed in 32 states. Development project costs have been in excess of $6.3 billion, with over $8.1 billion in construction costs. Hunt’s 2010 gross revenue was over $900 million.

Hunt affiliates include Hunt Building Company, Hunt Development Group, Hunt Communities, Hunt Military Communities, TRECAP Partners, Hunt Capital Partners, WhiteHawk Capital, and LEDIC Management Group. Hunt Companies, Inc is headquartered in El Paso, TX with regional offices in Washington, D.C; Albuquerque, NM; Honolulu, HI; Los Angeles, CA; Chicago, IL; Philadelphia, PA; and Memphis, TN. For more information, visit www.huntcompanies.com.