480-BED STUDENT HOUSING PROPERTY UNDERWAY

LAS VEGAS — The Place/BV Student Housing Fund LLC is developing Rebel Place, a 480-bed student housing project in Las Vegas. Serving the students of the University of Nevada at Las Vegas, the property will feature one-, two- and three-bedroom units with private bathrooms. Additionally, the fully furnished units will offer fully equipped kitchens, washers, dryers and wiring for cable and Internet services. Community amenities include a clubhouse with an activity center, online gaming, a computer lab, a state-of-the-art fitness center, a tanning bed and a resort-style pool with a poolside theater. Completion is slated for summer 2009. BVP Managers LLC, a joint venture between Atlanta-based Place Properties LP and Chicago-based Blue Vista Capital Management LLC, manages the fund.