AVIV TO BECOME PUBLICLY TRADED REIT

CHICAGO — Real estate investment firm Aviv has commenced the initial public offering of 13,200,000 shares of its common stock. The estimated price range of the common stock is between $18 and $20 per share. The underwriters have the option to purchase up to an additional 1,980,000 shares of common stock to cover overallotments. The company's common stock has been approved for listing on the New York Stock Exchange under the symbol “AVIV.” Aviv intends to use the net proceeds from the offering to repay certain indebtedness and for general corporate purposes, including the potential acquisition of additional properties. Morgan Stanley, BofA Merrill Lynch and Goldman, Sachs & Co. are acting as joint book-running managers of the offering, and Citigroup, RBC Capital Markets, SunTrust Robinson Humphrey, RBS and CSCA will act as co-managers.