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AUGUST 2007

Press Release

Permanent Funding Nationwide

Simpson Housing Solutions LLC, one of the nation’s leading developers of affordable multifamily and senior housing, said it has closed permanent funding on 14 separate, previously-completed communities since the first of the year.

SHS was the developer of most of the projects and on others served as the tax credit investor only. The communities include:

Sierra Village (multifamily), Oroville, Calif. Tregaron Senior Apartments, Bellevue, Neb. Oak Timbers II (multifamily), White Settlement, Tex. (investor only) Yorba Linda Family Apartments, Yorba Linda, Calif. (investor only) Orchard View (multifamily), Holtville, Calif. Sonterra Apartments (multifamily), Brawley, Calif. Hidden Creste (multifamily), Atlanta, Ga. (investor only) Seasons at Lakewood Senior Apartments, Lakewood, Calif. (refinance) Seasons at San Juan Capistrano Senior Apartments, San Juan Capistrano, Calif. (refinance) Egida de Miraflores (multifamily), Arecibo, Puerto Rico Egida Vistas del Rio (multifamily), Coamo, Puerto Rico Mountain View II Senior Apartments, Ontario, Calif. Scotlandville Homes (single-family home rentals), Baton Rouge, La. Riverview Apartments (multifamily), Barstow, Calif.

Founded in 1994, Simpson Housing Solutions, LLC has developed and/or financed more than 27,000 units of affordable housing throughout the nation. The company is a wholly owned division of Denver-based Simpson Housing Limited Partnership, one of the nation’s leading developers and operators of quality apartment home communities.