Press Release

September 2011

Tallahassee, FL (September 2011) –Hathaway Construction Services, Inc. is eager to announce the completion of the Tallahassee Student Housing Project, consisting of the second phase of The Avenues, and two new communities, Vue and Paces, owned my Chance Partners, LLC. The $4.2M project was comprised of 8 buildings, 30 units, over 100 beds and 53,000 square feet, all of which were constructed within an extraordinary time constraint, less than 120 days! As the final details of the project finished up the students were already moving in. HCS would like to thank everyone involved for their hard work and dedication to overcome this demanding schedule.

The Tallahassee Student Housing project is located less than two blocks from the FSU campus in Tallahassee’s Southgate District. The Avenues II, is a three building, 36 bed development, with a New Orleans inspired design. Vue is a contemporary community boasting high ceilings and oversized balconies, which consists of three buildings and 36 total beds. Finally, Paces will include twelve units and 43 beds, highlighted by oversized double balconies, rooftop terraces and an urban market on the ground floor.

About Hathaway Construction Services, Inc.

Hathaway Construction is an award winning, Atlanta based General Contracting firm focused on multi-family construction throughout the southeastern United States. Over the past 20 years Hathaway has built over 12,000 units in 8 states. Please visit Hathaway Construction on the Internet at www.hathawayconstruction.com.

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Press Release

July 2011

Atlanta, Georgia (July 2011) –Headquartered in Atlanta, Georgia, Hathaway Construction Company, Inc. is proud to announce that they were ranked number 73 out of 110 in ENR Southeast’s “2011 Top Contractors List.”  This recognition was based on Hathaway’s 2010 regional contract revenue.  The company documented regional construction revenue of over $42.0 Million and total nationwide revenue of $56.6 Million. The work recognized was based on total construction revenue from projects in Florida, Georgia, North Carolina, and South Carolina during the calendar year of 2010.

About Hathaway Construction Services, Inc.:

Hathaway Construction is an Atlanta based General Contracting firm focused on multi-family construction throughout the southeastern United States. Over the past 20 years Hathaway has built over 12,000 units in 8 states. Please visit Hathaway Construction on the Internet at www.hathawayconstruction.com.

Red Capital Markets, LLC (MEMBER FINRA/SIPC), the tax credit syndication and investment banking arm of comprehensive capital provider RED CAPITAL GROUP, recently purchased LIHTC equity for two affordable senior housing communities in Atlanta, Georgia for Prestwick Development Company. Both of the properties utilized a combination of Federal and State low income housing tax credits, FHA 221(d)(4) financing and a variety of soft funding sources.

Manor at Scott’s Crossing, located in northwest Atlanta, will consist of 100 one-bedroom units geared to elderly tenants (ages 62+) and built on a five acre redevelopment site. The property is situated in a mixed-use neighborhood consisting of single-family homes, apartment buildings and industrial uses. The Manor at Scott’s Crossing community will include a to-be-built three- and four-story “split” building with elevators, as well as an existing, two-story building that will be rehabilitated. Rents will be affordable to residents earning 50%-60% of Area Median Income.

Gateway East Point, located in the city of East Point in southwest Atlanta, will also consist of 100 one-bedroom units geared to elderly tenants (aged 62+) and will be affordable to residents with incomes at no more than 50%-60% of Area Media Income. The Gateway East Point community is being newly constructed on a 1.7 acre redevelopment site where the formerly vacant King office building had been located. Upon completion of the new project, the Gateway East Point community will provide a quality living environment at affordable rents to Atlanta, Georgia’s elderly population and will help further advance the area’s revitalization mission.

Ken Blankenship, Managing Partner of Prestwick Development Team stated, “Prestwick had a short closing time frame and Red Capital was able to get us to the closing table on time and they coordinated well with our lenders.” Peter F. TenEyck, Director of Red Capital Markets, LLC said, “Red Capital appreciates the opportunity to work with a seasoned group like Ken Blankenship and the Prestwick Development Team. Prestwick builds a beautiful product; these properties will be great additions to their communities, providing an excellent living experience for their elderly residents.”

Red Capital Markets, LLC is one of the nation’s leading bond underwriters for developer-driven multifamily transactions and has been providing tax credit equity for affordable housing properties nationwide since 1994. Red Mortgage Capital, LLC is the nation’s #1 FHA Multifamily/Seniors Lender, having provided the most FHA insured multifamily loans in the nation in the past year.

For more information, contact:

RED CAPITAL GROUP

Linda L. Mackov,

Senior Managing Director

Business Development

(614) 857-1404

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TALLAHASSEE – Chance Partners, LLC, a leading developer of luxury, infill, student housing communities, announced the start of construction on more than 100 beds at Florida State University through the development of two new communities - Paces and Vue - and a second phase of its successful Avenues community.

Located less than two blocks from the FSU campus in Tallahassee’s burgeoning Southgate District, the communities will build off the success of Chance’s award-winning Avenues I and Elements communities, which were fully leased prior to the completion of construction in fall 2010 and are already 100% pre-leased for fall 2011.  Avenues II, a three-building, 36-bed development located across the street from Avenues I, will reflect the New Orleans-inspired design in which Phase I was developed. Vue, a contemporary community boasting high ceilings and oversized balconies will consist of three buildings and 36 total beds. Paces, Chance Partners’ first townhome community, will include twelve units and 43 beds, highlighted by oversized double balconies, rooftop terraces and an urban market on the ground floor.  

Chance Partners’ communities provide all the accoutrements of high-end, luxury homes including; 9’ ceilings; hardwood floors in the living areas; kitchens with premium designer cabinetry, imported granite countertops and Energy-Star-Vue   Hathaway Construction, an award-winning, Atlanta-based, general contracting firm, will oversee construction of the new communities.  Reese Vanderbilt, a design-oriented architectural firm is the architect.   About Chance Partners, LLC 
Chance Partners is a fully integrated, award-winning real estate firm specializing in the development of high-quality multifamily housing communities, retail and storage. Headquartered in Atlanta, GA, Chance Partners is focused on maximizing investment value while developing communities that intertwine into their surroundings.

Principals in Chance Partners have a history of developing more than 6,000 mixed-use, multi-family units and over 250,000 square feet of urban-focused retail space, with an aggregate of more than 8 million gross square feet. Learn more at www.Chance-Partners.com.