Campus Habitat Closes on the Acquisition of University Club at Howard

NEW YORK, May 27 /PRNewswire/ -- Campus Habitat, one of the nation's leading
student housing owner/operators, closes on the acquisition of University Club
at Howard, a 120-unit, 480-bed student housing asset located directly across
the street from Western Michigan University in Kalamazoo, MI. Built in 2001,
University Club consists entirely of four-bedroom units and is 100% pre-leased
for the 2009-2010 academic year. University Club is soon to be rebranded under
the Campus Habitat umbrella.

The University Club transaction was successfully closed on May 15th, 2009
despite current economical tribulations and one of the most difficult credit
markets in decades. As part of the transaction, Campus Habitat assumed the
asset's existing in-place financing from Wells Fargo Bank, N.A., as Trustee
for the registered holders of J.P. Morgan Chase Commercial Mortgage Securities
Corporation.

Campus Habitat and its employees are looking forward to continuing this
tremendous growth throughout the remainder of 2009 as they continue to gain
national exposure as the nation's most recognizable student housing brand.

Jamie Bray, Vice President of Operations stated, "University Club is a
beautiful asset with an unbeatable location. We very much look forward to
enhancing the student experience for our tenants in Kalamazoo. It is a
fantastic addition to our portfolio."

Oliver Swan, Vice President of Acquisitions had this to say, "The acquisition
of University Club exemplifies Campus Habitat's ongoing acquisition strategy
and ability to close complicated REMIC transactions."

About Campus Habitat

Campus Habitat is currently the fastest-growing Student Housing owner/operator
in the US. Founded in 1998 by Maximus Yaney, the company acquires, renovates,
and manages student apartment communities near major universities nationwide.
Campus Habitat creates upscale atmospheres by providing the kind of fresh
style and ground-breaking amenities today's student values most. As of May
2009, Campus Habitat's portfolio spans 7 states.

www.campushabitat.com

SOURCE Campus Habitat

Christina Jordan, Director of Marketing, +1-917-449-0765