PM Realty Group
910 Travis, Suite 1000
Houston, Texas 77002

AT PM REALTY GROUP:
Bill Goeke
SVP/Director
Central Division
(713) 209-5805

AT WEBER SHANDWICK:
Mary Clare Rankin
Media Contact
312-640-6661

Craig Bloomfield
General Information
312-640-6720

FOR IMMEDIATE RELEASE
Mar 13, 2002

PM REALTY GROUP AWARDED PROPERTY MANAGEMENT
AND LEASING ASSIGNMENT FOR 453,696-SQUARE-FOOT
HOUSTON PORTFOLIO

Devon Properties, Inc. Acts as Owner Representative
for Two Building Assignment

HOUSTON - PM Realty Group, one of the nation’s leading full-service commercial real estate firms, today announced it has been awarded the exclusive property management and leasing assignment for a 453,696-square-foot portfolio of Class A office buildings by owner representative Devon Properties, Inc.

The portfolio includes property management and leasing responsibilities for 13401 North Freeway, owned by Acadia Properties Associates, LP, and 10370 Richmond Avenue, owned by Alder Properties Associates, LP. 13401 North Freeway is a seven-story, 143,408-square-foot building located in the North Belt West/Greenspoint submarket of Houston. 10370 Richmond Avenue is a 14-story, 310,296-square-foot building, located in the Westchase submarket. Devon Properties, Inc. represented both owners.

This assignment furthers PM Realty Group’s rapid expansion of business in Houston. The largest third-party management and leasing firm in the area, PM Realty Group now manages over 31 million square feet of property in Houston, with leasing responsibilities totaling more than 11 million square feet.

Laura Manning serves as Property Manager for the portfolio, under the direction of Don Eicholz, Vice President Operations for Houston. Mike Hackett, Vice President of Leasing in Houston, oversees leasing of the portfolio. The team reports to Bill Goeke, Senior Vice President and Director of the Central Division for PM Realty Group.

“We are proud that Devon Properties has selected PM Realty Group to manage and lease this Class-A office portfolio,” said Goeke. “We are also excited about the creation of a new national account relationship in the Houston area, and hope that it will continue to grow in the future.”

About PM Realty Group

PM Realty Group is a privately-held real estate service organization with more than 1,300 employees and 20 divisional and regional offices. Based in Houston, Texas, the company traces its roots back to 1954. PM Realty Group today conducts business in nearly every state, providing comprehensive real estate services to institutions, investors, corporations, real estate investment trusts, government agencies and healthcare providers.

PM Realty Group offers clients the full spectrum of real estate services, including property and facility management, leasing and marketing, corporate services, investment services, construction management, asset management and development, engineering services, portfolio administration, disposition and acquisition, consulting and due diligence and healthcare services.

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