McKinley Announces Appointment of Senior Vice-President Operations, Residential Real Estate

January 7, 2008

January 8, 2008

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley is pleased to announce the appointment of Greg Signer, CPM as Senior Vice President, Operations, Residential Real Estate. Mr. Signer joins McKinley following more than fifteen years of experience in residential real estate most recently, as Vice President with The Morgan Group.

We are very excited about the addition of Greg to the McKinley team, states Kenneth P. Polsinelli, Executive Vice President and Managing Director, Residential Real Estate. In addition to his years of experience in the industry, Gregs strengths include a passion for quality operations and a focus on developing people. With our continued growth and expansion across our 10 state platform, Greg will provide the expertise and leverage needed to maintain our excellent performance.

During his career, Greg has been focused on training and development of his team as well as standardizing operations, implementing significant cost saving measures and improving quality throughout the organization. He has held numerous positions in regional property management and operations with several major residential real estate organizations including Archstone-Smith and Trammell Crow/Gables. He has a consistent track record of success at every assignment throughout his career.

Greg is a graduate of Florida State University in Tallahassee. He holds a Certified Property Manager designation and serves on the Board of the Florida State University Housing Program. He is also an active member with the Apartment Association of Greater Orlando. In his new role with McKinley, Mr. Signer will have oversight and responsibility for operations in the residential real estate portfolio with operations in 10 states.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $1.8 billion in assets in 103 properties for its own account and for select clientele. This includes 17,248 apartments and more than 5 million square feet of commercial space located in 10 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 717 full-time employees nationwide.