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October 28, 2008 For More Information:
Joy Lutes 877.846.7760
Miramar 77 Honored With Multifamily Executive Project of the Year Award
Award Marks Fifth MFE Distinction for Clark's Military Communities

Miramar 77 Honored With Multifamily Executive Project of the Year Award
LAS VEGAS — Recently, Multifamily Executive Magazine awarded Miramar 77 with an Award of Merit for Military Project of the Year at its annual awards ceremony at the Bellagio hotel. Developed by Clark Realty Capital and constructed by Clark Builders Group, Miramar 77 boasts stunning new homes for military personnel stationed at Naval Base San Diego. This is the fifth consecutive award that a Clark community has received in the competitive Military Project category.

"This year's contest exceeded expectations, in terms of quantity and quality of applicants, with roughly 240 submissions," said Rachel Azoff, senior editor of Multifamily Executive and Developer magazines. "With such a large pool of entries, the competition was robust, and our judges had some very difficult decisions to make."

Named "Miramar 77" for the 77 outdated, ill-equipped units that were demolished and replaced with spacious, energy-conscious single-family homes featuring climate-sensitive landscaping. Miramar 77's landscaping incorporates colorful variations of native, drought-resistant plants and flowers to beautify the area while conserving water. The community boasts two luxury pool and clubhouse complexes, integrating interior and exterior space for a relaxing, resort-style atmosphere. Miramar 77 is the most recent phase of Clark Realty Capital's partnership with Lincoln Property Company and the Navy to redevelop military family housing for Sailors and Marines in the San Diego area.

"Our Sailors and Marines sacrifice so much for our country," said Jim Forburger, senior vice president of Clark Builders Group. "We are honored to be recognized for providing them with the top-quality homes and communities they deserve."

Previous Clark Realty Capital Project of the Year honorees have included privatized communities at Fort Belvoir and Marine Corps Base Quantico in Virginia, as well as Gateway Village and Monterey Bay in California.

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About Clark Realty Capital

Clark Realty Capital (CRC) is a fully integrated national real estate company offering a broad base of services including capital markets, finance, development, construction, property management, and investment management. Clark has been active in Southern California for the last 25 years. In the last five years alone, Clark Realty Capital's partnership with the Navy has invested nearly $400 million in San Diego's local community, with more than 65 percent of this work to small business enterprises and locally-owned companies. Clark's construction and development initiatives have created an estimated 1,500 jobs in San Diego. San Diego landmarks built by Clark include the San Diego Padres stadium, the stunning Manchester Grand Hyatt, and the new trolley station at San Diego State University. For more information, visit www.clarkrealtycapital.com.

About Clark Builders Group

As the fourth largest multifamily builder in the nation, Clark Builders Group (CBG) is one of the nation's premier builders of luxury apartments, military family housing, and mixed-use communities. CBG has constructed more than 50,000 homes since its founding in 1992 and boasts an extensive portfolio of nationally acclaimed, award-winning communities on both coasts. CBG is an affiliate of the Clark Construction Group, one of the nation's oldest and largest private general contractors. For more information, visit www.clarkbuildersgroup.com.

About Multifamily Executive Magazine

Multifamily Executive is a national business management magazine serving over 25,000 owners, management firms, developers and investors of multifamily housing. Published monthly, Multifamily Executive examines the people, issues and trends in the market with a mission of providing information for senior-level executives to assist them in increasing the profitability and efficiency of their organizations. For more information, visit www.multifamilyexecutive.com.