THE BOZZUTO GROUP COMPLETES PURCHASE OF 1,188-UNIT PORTFOLIO

Greenbelt, MD...The Bozzuto Group has completed the purchase of a 1,188-unit portfolio of apartment properties. Valued at $98 million, the portfolio includes four garden-style properties. Two of the communities are located in Suitland, Maryland: Shadyside Gardens (349 units) and Forest Village (410 units). The remaining communities, Marlow Heights (172 units) and Marlow Plaza (257 units), are located in Temple Hills, Maryland.

The seller was Stephen A. Goldberg Companies. Representatives of CB Richard Ellis brokered the transaction; CBRE/Melody arranged financing through Hypo Real Estate International.

Over the past five years, The Bozzuto Group has acquired a total of 4,636 units in the mid-Atlantic region.

Active in the purchase of residential apartment properties throughout the mid-Atlantic and Northeastern United States, Bozzuto Acquisitions, LLC is one of the companies in The Bozzuto Group. Headquartered in Greenbelt, Maryland, The Bozzuto Group provides a broad range of real estate services -- including development, management, homebuilding, landscaping, and construction -- for third party owners as well as for its own account. The Group’s principals and operating companies have been the recipients of scores of prestigious honors and awards including the national Pillars of the Industry Awards for Multifamily Development Firm of the Year (2003), Property Management Company of the Year (2000) and Multifamily Builder of the Year (1998).