Silver Capital and McCann Realty Partners Add Fourth Asset in Indianapolis, Indiana Market With the Acquisition of Quail Run Apartments

RICHMOND, Va., BOCA RATON, Fla., and ZIONSVILLE, Ind., June 20, 2011
/PRNewswire/ — Silver Capital — a division of Silver Companies — and McCann
Realty Partners announced the acquisition of Quail Run Apartments in Zionsville,
Indiana. The 166-unit, garden-style community located in the affluent northeast
submarket of metropolitan Indianapolis was built in 1972 and will be managed by
Buckingham Management, LLC of Indianapolis. Over the next three years the
property will be upgraded, including new amenities and redecorated interiors.
The acquisition was funded in part by a 10-year Fannie Mae fixed rate loan with
a rate of 5.29% originated by Beech Street Capital.

“We’ve had success with our other Indianapolis area apartments,” said Silver
Companies CEO Larry D. Silver. “Quail Run provides us with the opportunity to
upgrade and reposition a very well located, older community in one of
Indianapolis’ best submarkets and to be rewarded for doing it.”

“The property has very large floor plans that are surprisingly functional, given
when Quail Run was built,” said John McCann of McCann Realty Partners. “The
predominant two bedroom 1,200 square foot townhouse apartment in this location
makes Quail Run a unique rental community. We will redecorate the interiors, add
amenities and improve the grounds over the next two plus years, as the
apartments turn-over, to better position the community to compete over the
long-term.”

This transaction continues the affiliation between Silver Capital, a division of
the real estate development and investment firm Silver Companies, and McCann
Realty Partners, an apartment and investment company. Silver and McCann first
worked together in April 2005, forming Silver-McCann Apartment Group, L.P. to
acquire apartment communities in the Southeast. The initial fund reached its
stated objective of acquiring an apartment portfolio valued at approximately
$100 million in the first 18 months of the partnership. Silver-McCann Apartment
Group II, L.P. was formed in January 2007 and continued the partnership by
acquiring approximately $154 million worth of apartment communities.

McCann is currently seeking apartment acquisitions in the Mid-Atlantic,
Southeast and Texas. For more information, please contact Brand Inlow, Chief
Investment Officer, at (804) 290-8870.

Since 1941, Silver Companies has built an impressive master development and real
estate investment enterprise with commercial development approaching 11 million
sq. ft. and residential site development totaling more than 50,000 units. In
addition, the company’s private equity division has provided more than $1
billion in capital to builders and developers during the last six years. Silver
Companies is led by CEO Larry D. Silver and is backed by a team of division
presidents, engineers, contractors, project managers, lending, leasing and
acquisitions professionals and nationally-recognized strategic partners. Its two
headquarter offices are located in Metro Washington, DC and Boca Raton, FL. For
more information, visit www.silvercompanies.com.

Formed in October 2004, McCann Realty Partners and its principals have decades
of diverse experience in the apartment business. MRP teams with institutional
capital sources to acquire, develop and manage garden apartment communities in
the Southeast, Southwest and adjacent regions. By leveraging industry
relationships developed during the past 40 years, MRP has demonstrated its
ability to access capital and locate, finance and close apartment deals. The
Company is in the market continuously to acquire both Class A and value add
apartment communities of 150 units or more.

Since inception, MRP has acquired 17 apartment communities totaling 4,000 units
in transactions valued at approximately $300 million. The Company also develops
apartment communities in Texas. It is currently building in suburban Houston and
is scheduled to start another community in north Dallas in the fall. For more
information, visit www.mrpapts.com.

Contact:
Fleet Wallace, McCann Realty (804) 290-8870
Michele Ethridge, Silver Companies (561) 981-5252

SOURCE McCann Realty Partners