McKinley Appointed Receiver of River Oak Apartments in Louisville, Kentucky

August 21, 2007

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

On August 10, 2007, McKinley was appointed receiver by the Jefferson Circuit Court, Commonwealth of Kentucky for River Oak, an apartment community located in Louisville, Kentucky. It has a premiere location near the renowned University of Louisville campus, a state supported research university in Kentucky's largest metropolitan area.

River Oak, a 268 unit apartment community enjoys lush landscaping, community center with billiard tables, indoor racquetball courts, a fitness center, beautiful outdoor pool with leisure deck and tennis courts and is located just minutes from downtown Louisville.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $1.7 billion in assets in 103 properties for its own account and for select clientele. This includes 17,223 apartments and 5 million square feet of commercial space located in 9 states. Albert M. Berriz serves as Chief Executive Officer for McKinley, headquartered in Ann Arbor, Michigan. McKinley employs 717 full-time employees nationwide