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October 24, 2006 For More Information:
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Clark Realty's Gateway Village Receives Military Project of the Year Award
Distinction Adds to Local and National Recognition of this Point Loma Neighborhood

Clark Realty's Gateway Village Receives Military Project of the Year Award
LAS VEGAS — At its annual awards gala, Multifamily Executive magazine honored Gateway Village, a Point Loma community developed by Clark Realty Capital, with the prestigious Military Project of the Year award. The privatized housing development, which boasts 460 new homes for the Department of Navy provides service members and their families with modern, safe, and attractive living environments that rival San Diego's best market-rate communities.

"Clark Realty's attention to family-friendly features such as extra bedrooms, extra bathrooms, and neighborhood playgrounds caught the eyes of our judges," said Alison Rice, editor of Multifamily Executive magazine. "We also appreciated Gateway Village's appealing Spanish Colonial and Mission-style architecture, which is particularly appropriate for San Diego."

A walk-able community, Gateway Village features a 10,000 square foot clubhouse, outdoor swimming pool, and park at the heart of the neighborhood. Tot lots, athletic courts, and several picnic pavilions also add to the community's numerous amenities.

The Military Project of the Year award for Gateway Village marks the second consecutive year that Clark Realty has earned the highest honors in this national competition. The award also adds to the project's numerous local and national accolades, including the 2006 Recycler of the Year from the City of San Diego for Innovative Recycling and Re-Use of Construction Materials and the 2005 Project of the Year for Outstanding Design by the Point Loma Association. Other national awards garnered for Clark's privatization efforts in San Diego include the Environmental Protection Agency's Smart Growth Award and Multifamily Executive's Project of the Year award, both for The Village at NTC on the former Naval Training Complex.

"This award underscores the success of Clark's partnership with the Navy in San Diego," said Jim Forburger, senior vice president of Clark Realty Builders. "Together, we are making great progress in providing modern, affordable homes to our service members. It's an honor to be recognized at the national level for our efforts in the community."

Gateway Village is part of the Lincoln/Clark Public Private Venture (PPV) with the Department of the Navy. The venture, which includes management and construction or renovation of a finished portfolio of over 9,000 homes across 40 sites in the San Diego area, is one of the largest and most comprehensive PPVs undertaken by the military since Congress authorized military housing privatization in 1996. For the Gateway Village project, Clark Realty is the co-owner, developer, and general contractor. Clark's partner, Lincoln Property Company, is co-owner and provides property management and asset management services. Currently, Clark's military housing portfolio encompasses more than 25,000 homes valued at $4.2 billion - a testament to our commitment to improve quality of life for service members and their families.

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About Clark Realty

Founded in 1906, the Clark organization has become one of the country's premier developers of multifamily housing and is the largest privately-held general building contractor in the nation. The Clark companies are headquartered in Bethesda, Md., with regional offices strategically located throughout the United States.

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.

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.