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

AT PM REALTY GROUP:
James C. Gunn
Executive Vice President
Property Services
(713) 209-5800

AT THE FINANCIAL RELATIONS BOARD:
Greg Farley
Media Contact
312-640-6778

John Corey
General Information
312-640-6797

FOR IMMEDIATE RELEASE
Oct 11, 1999

PM REALTY GROUP INVESTMENT SERVICES NEGOTIATES SALE OF THE REMINGTON AT LONE TREE APARTMENTS IN DENVER

DENVER, CO - PM Realty Group Investment Services, the investment brokerage arm of PM Realty Group, today announced that it has successfully negotiated the sale of The Remington at Lone Tree Apartments for $20 million to Allegis Realty Investors on behalf of its client Lincoln National Life Insurance Company.

Duane Jones and Will Kralovec, both Senior Vice Presidents with PM Realty Group Investment Services, represented the seller and the buyer in the transaction.

The Remington at Lone Tree Apartments is a 12-building luxury apartment complex located at the northwest corner of Lincoln and Yosemite Streets in Southern Denver. The three year old, 229,848-square-foot complex totals 232 apartment units and currently is 98 percent occupied. Amenities include a clubhouse, fitness center, lighted tennis courts and garages, in addition to mountain and city views.

"The Remington enjoys an outstanding location and amenity package," said Jones. "This transaction further substantiates the strength and stability of the Denver apartment market."

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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