Place Properties Enters Into Its Newest Third Party Management Contract at the Villas on Guadalupe in Austin, TX

ATLANTA, GA /PRNewswire/ -- Place Properties, a diversified real estate company with expertise in financing, developing and managing award-winning housing communities and facilities for the university and military markets, continues to expand its presence in the third party management business.

Place Properties has assumed management for the Villas on Guadalupe, (top right photo) a 343 bed student housing community serving the students of the University of Texas (bottom left photo) at Austin.

The asset manager, Rreef, is a real estate investment company out of Chicago.

Peggy Daly, Executive Vice President of Property Management, said, "Our management group has positioned itself to selectively grow its third party management business in 2009.

"The Villas at Guadalupe is our newest addition and is a great example of an asset that fits well within our portfolio both in location and quality."

Villas on Guadalupe offers a convenient location to West Campus with first class amenities including a resort-style swimming pool with hot tub, state-of-the-art fitness center, tanning beds, clubhouse with WIFI, and organized resident social activities.

The apartments are fully furnished and every bedroom is wired for high-speed internet. Complete details of the lifestyle offered at Villas on Guadalupe can be found at http://www.smartstudentliving.com/.

Place Properties, LP, has over 10 developments in various stages of construction nationwide, making it one of the largest multifamily development and construction organizations in the country.

Place Properties has developed more than $800 million of student and military housing properties since 1996, and currently manages more than 17,000 beds.

Contact: Jessica H. Nix, National Director of Marketing, 404-495-7591 jnix@placeproperties.com
Web Site: http://www.placeproperties.com/

Investments Valued at $64M Announced by Place/BV Student Housing Fund

ATLANTA and CHICAGO /PRNewswire/ -- The Place/BV Student Housing Fund, LLC, a real estate investment fund focused on the acquisition and development of student housing properties nationwide, announced its most recent investments.

Hill Place serves the students of the University of Arkansas at Fayetteville and Rebel Place serves the students of the University of Nevada at Las Vegas (UNLV). Both communities will open summer of 2009.

BVP Managers, LLC, a joint venture between Atlanta, Georgia-based Place Properties, LP and Chicago, Illinois-based Blue Vista Capital Management, LLC, serves as the Manager of the Fund.

Hill Place, located directly across from the campus on Sixth Street, is in one of the most desirable locations for students of the University of Arkansas.(middle left photo)

Known as "the hill," the site is closer to campus than the parking lots for football and basketball games.

Hill Place will provide the purpose- built, contemporary housing that is in short supply near campus.

This garden- style community will house 840 students in 288 one, two and four bedroom apartments.

All apartments will offer contemporary furniture with full kitchens including washers and dryers. Each bedroom will have its own private bathroom.

Community amenities include a clubhouse with WIFI and a game room, a 24-Hour fitness center, tanning beds, with outdoor amenities to include two basketball courts, a study garden, walking/jogging trails throughout the property, and two resort-style swimming pools.

Rebel Place, located only a half mile from campus, will also be a garden style community serving the growing student population at UNLV.

Offering 480 beds in unit types that include two, three and four bedroom units, all with private bathrooms, the property will offer an alternative to the on-campus suite-style housing.

Bob Clark, (top right photo) Executive Vice President said, "Place is very excited about the addition of Hill Place and Rebel Place to our student housing portfolio.

"Both universities are growing and the markets have high barriers to entry. These projects compliment our portfolio and represent quality assets in excellent markets."

Blue Vista Capital Management, LLC is a leading national real estate investment management firm with in excess of $550 million in capital under management. Blue Vista has participated in joint ventures representing over $3 billion in total capitalization.

Place Properties, LP, has over 11 developments in various stages of construction nationwide making it one of the largest multifamily development and construction organizations in the country. Place Properties has developed more than $800 million of student housing properties since 1996 and currently manages more than 17,000 beds.

CONTACT: Jessica H. Nix, Director of Marketing and Public Relations of Place Properties, LP, +1-404-495-7591, jnix@placeproperties.com

Web site: http://www.placeproperties.com/

Investments Valued at $44M Announced by Place/BV Student Housing Fund

ATLANTA and CHICAGO, /PRNewswire/ -- The Place/BV Student Housing Fund, LLC, a real estate investment fund focused on the acquisition and development of student housing properties nationwide, announced its most recent investments.

La Cantera Place serves the students of University of Texas, San Antonio (bottom left photo)(UTSA) and Rockdell Place will serve the students of Wright State University (middle right photo) in Fairborn, Ohio.

Both communities will open summer of 2009. BVP Managers, LLC, a joint venture between Atlanta, Georgia-based Place Properties, LP and Chicago, Illinois-based Blue Vista Capital Management, LLC, serves as the Manager of the Fund.

La Cantera Place will be the Fund's second asset in the San Antonio market. Hill Country Place, (middle left photo) the first asset, which opened this month, is 98 percent leased for fall.

La Cantera Place, located just a 1/2 mile from the UTSA campus, is well positioned to benefit from one of Texas's largest and fastest growing schools.

With an expected enrollment increase of over 1,500 students in fall 2009, La Cantera's 204-unit / 624-bed community will be a popular housing choice.

La Cantera will offer one-, two- and four-bedroom apartments with contemporary furnishings and private bathrooms. Each apartment will also offer a full kitchen with all major appliances, including washers and dryers.

Community amenities include a clubhouse with a state-of-the-art fitness center, computer lab and resort-style swimming pool. Rockdell Place, as the first purpose built, modern student housing community in Fairborn, will offer Wright State students a superior housing alternative.

In addition to offering 96 fully furnished four-bedroom, four- bathroom apartments, each with private bathrooms, Rockdell Place will include a clubhouse with computer lab, Place Zone online gaming center, state-of-the- art fitness center, indoor 1/2 basketball court, landscaped courtyard and surface parking.

Brent Little, (top right photo) National Development Partner for Place Properties said, "La Cantera Place is our second asset in the UTSA market and will build on the success of our Hill Country Place property, which opens to students this month. Rockdell Place is our first asset in the Wright State market, which has seen no new student properties built to serve this growing enrollment."

Blue Vista Capital Management, LLC is a leading national real estate investment management firm with in excess of $550 million in capital under management.

Blue Vista has participated in joint ventures representing over $3.0 billion in total capitalization.Place Properties, LP, has over 14 developments in various stages of construction nationwide making it one of the largest multifamily development and construction organizations in the country.

Place Properties has developed more than $800 million of student housing properties since 1996 and currently manages more than 17,000 beds.

Contact: Jessica H. Nix Director of Marketing and Public Relations 404-495-7591 jnix@placeproperties.com

Web site: http://www.placeproperties.com/