CONSTRUCTION SET TO BEGIN FOR 260-UNIT APARTMENT COMMUNITY

SAN BENITO, TEXAS — Dallas-based RightQuest will break ground this summer for the Villages at Paseo Real, a two-phase multifamily project located on 18 acres along Paseo Real Highway in San Benito. The Class A community will contain 260 one-, two- and three-bedroom units with rents ranging from $600 to $950. Amenities will include a business center, a fitness center, a clubhouse with a media center, a resort-style swimming pool, a playground, covered parking, storage units and laundry facilities. The second phase of development will possibly include small-shop retail space along Paseo Real Highway. The first units are expected to be available for occupancy by summer 2010. RightQuest is developing the project on behalf of the owner, Brownsville, Texas-based Villages of Paseo Real LP. The project architect is San Antonio-based B&A Architects. The San Antonio office of Capstone Real Estate Services will provide leasing and property management services. Construction financing was provided by IBC Bank.