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JRK Property Holdings Officially Recognized as One of the Largest Multifamily Owners and Managers in the U.S.

LOS ANGELES, Calif. (May 5, 2009) — Los Angeles-based JRK Property Holdings was officially recognized as one of the nation’s largest multifamily owners and managers by The National Multi-Housing Council. The 2009 NMHC Top 50 list, which was released in April of 2009, ranked JRK as the 32nd largest owner of apartments and 30th largest manager of apartments in the U.S.

“Our employees have worked extremely hard to help build what I consider the leading apartment operator in the country,” said Jim Lippman, Chairman and CEO of JRK Property Holdings. “While being recognized by a leading organization such NMHC is certainly an honor in itself, I remain excited about the significant growth still ahead of us. With the opportunities we are currently working on, I fully expect JRK to be among the top 10 owners and managers within the next few years.”

JRK Property Holdings has become one of the most active buyers of multifamily properties in the last 2 years with over $750 million of acquisitions, representing over 50 properties, consummated over that time.

About JRK Property Holdings
JRK Property Holdings is a fully integrated owner and operator of multifamily, hospitality and self-storage properties. JRK’s portfolio is valued in excess of $3.5 billion, generates over $300 million in annual revenues and consists of over 38,000 multi-family units, 1,885 self-storage units and hotels in New York City, Santa Monica (CA), Santa Barbara (CA), and Nashville. JRK also manages a $203 million private equity fund through its JRK Birchmont Advisors subsidiary. For more information, please visit: http://www.jrkpropholdings.com.

About the National Multi-Housing Counsel
Based in Washington, DC, NMHC is the leading national association representing the interests of the apartment companies in the U.S. NMHC's members are the principal officers of firms engaged in all aspects of the apartment industry, including owners, developers, managers and financiers.

CONTACT
Rick Jennings
BNC for JRK Property Holdings
310.854.4800
rjennings@bncpr.com