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October 18, 2005 For More Information:
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Clark Realty Accepts Project of the Year, Best Use of Technology awards at MFE Conference
Awards strengthen Clark Realty's reputation for creativity and innovation.

Clark Realty Accepts Project of the Year, Best Use of Technology awards at MFE Conference
LAS VEGAS — Clark Realty, a fully integrated national real estate and construction company, was honored with three prestigious awards at the 2005 Multifamily Executive (MFE) Conference. The annual awards gala is the premier event in the multifamily industry, honoring the most innovative executives and projects. Clark Realty, along with its property management partners Lincoln Property Company and Pinnacle, took home three major Multifamily Executive awards, including two awards for Project of the Year - Military and an award for the Best Use of Technology.

"We had a wonderful group of projects and initiatives to evaluate this year," said Alison Rice, Multifamily Executive's editor. "We saw properties that were charming, colorful, ambitious, creative, and luxurious - it was difficult to narrow it down to just a handful of winners."

Clark Realty received MFE's highest honor in two major categories. The company won the Grand Award for Project of the Year - Military for its family housing at Marine Corps Base (MCB) Quantico and the Grand Award for Best Use of Technology for its widespread wireless networking platform at Monterey Bay Military Housing. The company also garnered a Merit Award for Project of the Year - Military for the family housing at Monterey Bay Military Housing.

"These awards represent our dedication to the men and women who defend our country and the families that support them," said Tom Murray, Clark Realty's development executive at Quantico. "We're honored to contribute our creativity and expertise to provide the modern, comfortable, high-quality homes and communities that the military deserves."

The partnership of Clark Realty and Lincoln was recognized for excellence in the redevelopment of MCB Quantico's entire family housing inventory, including 993 new homes, 141 apartment conversions, and renovations to three historically significant dormitory-style facilities. The renovation of these historic structures is a noteworthy example of the award-winning expertise the company was able to bring to the project. Some of the most historic, yet inadequate, apartment buildings on base were originally slated for demolition , but the Clark team devised a creative strategy to save the structures by converting them from stacked apartment units into walk-up townhomes.

MFE was also impressed by Clark Realty's creativity in overcoming major wireless networking obstacles at Monterey Bay Military Housing, including long distances, phased demolition and construction, and two military branches. An essential part of rebuilding this training and education facility, used by both the Army and Navy, was to provide broadband access for residents in a widely spread military neighborhood of newly constructed homes and existing homes, slated for demolition throughout an eight-year construction plan. Clark Realty implemented a cutting-edge broadband standard, which allows for connections as distant as six miles, to distribute the broadband access to multiple local access points located around the Monterey Bay housing area. The overall quality of the massive project for family housing at Monterey was recognized with the Merit Award for Project of the Year - Military.

"The judges were impressed by Clark's efforts to serve the nation's military families, both in terms of housing and services," said Alison Rice.

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About Clark Realty

The Clark Realty organization is a fully integrated national real estate and construction company offering a broad base of services including development, capital markets, construction, investment management, property management, and real estate strategies. Founded in 1906, the Clark organization has become one of the country's premier real estate companies and the largest privately held general building contractor in the nation. Clark is headquartered in Bethesda, Md., with regional offices strategically located throughout the United States.

The Army, Navy, and Marines are leveraging the ingenuity and assured performance of Clark Realty at 10 military installations throughout the U.S. Upon completion of current military projects, Clark Realty will have built or renovated nearly 25,000 homes with a development value in excess of $4.2 billion. For more information about Clark Realty, visit www.clarkrealty.com.

About Pinnacle

Pinnacle, an American Management Services Company, is an international real estate investment management firm headquartered in Seattle. Pinnacle's portfolio, valued at more than $7.5 billion, includes properties in 42 states and 266 cities in the United States. Pinnacle manages more than 125,000 residential units nationwide. Pinnacle was recently awarded the 2005 "Property Management Company of the Year" award from the National Association of Home Builders. For more information about Pinnacle, visit www.pinnaclerealty.com.

About Lincoln Property Company

Established in 1965, Lincoln Property Company is one of the nation's leading residential and commercial development, property management and asset management companies. A full-service real estate firm, Lincoln has developed over 98 million square feet of commercial space and 176,000 multifamily residential units. The company also manages over 100,000 residential units and 150 million square feet of commercial space. For more information about Lincoln, visit www.lpcmil.com.

About Multifamily Executive

Multifamily Executive, published by Hanley Wood, LLC, is the only national publication that targets the senior-level executives who are responsible for owning, managing, developing, and investing in multifamily housing. Published monthly, this award-winning publication provides executives with the practical and sophisticated information they need to grow and manage their companies. Now celebrating its 10th anniversary, Multifamily Executive profiles emerging and established industry leaders and provides real-world strategies for multifamily finance, marketing, property management, technology, renovation, and construction. For more information, visit www.multifamilyexecutive.com.