RIVER HEIGHTS APARTMENTS ACQUIRED FOR $40.7 MILLION

MARIETTA, GA. — Atlanta-based Lane Co. and Griffin Realty Advisors have acquired River Heights Apartments, located off Columns Drive in Marietta, for $40.7 million from Waterton Associates. This is the first investment for Griffin Realty Advisors value-added fund. The community includes 384 one-, two- and three-bedroom apartments. Renovation of the first group of apartments should be complete by first quarter 2008 with work continuing through November 2009.