Post Investment Group Expands Distressed Multi-Family Platform With the Acquisition of Two Properties Totaling 738 Apartment Units

Post Investment Group Expands Distressed Multi-Family Platform With the
Acquisition of Two Properties Totaling 738 Apartment Units

HOUSTON, Nov. 9 /PRNewswire/ -- Post Investment Group, LLC, a Los Angeles
based opportunistic real estate investment firm recently announced the
acquisition of two distressed multi-family projects: the 438 unit Serrano
Apartments in Houston, Texas and the 300 unit Longhorn Station Apartments in
Austin, Texas. These latest acquisitions serve to expand Post's distressed
real estate platform. Post acquired the assets through separate joint
ventures with two existing equity partners.

The two assets, though purchased separately, carried similar transaction
structures characteristic of both the current real estate environment and
Post's strategic directive. The properties were acquired directly from or
through the special servicers, in both circumstances requiring the lender to
substantially discount the outstanding principal balance of the notes and
amend financing terms in favor of Post. In each case, Post will infuse
significant rehabilitation and renovation capital through a focused,
individualized investment thesis tailored toward short term stabilization and
long term operational viability.

This method of distressed investment is a transactional direction Post has
been pursuing over the past calendar year. However, until recently lenders
were either unwilling or unable to discount the outstanding balance of their
holdings to levels that were both in-line with market and operationally
accretive. "These two acquisitions signify a discernible shift in lender
expectations," remarks Jack Ehrman, Principal of Post, "in that expanded
consideration is now given to the active preservation of remaining equity in
lieu of blindly pursing an exit at par, an argument we have been touting for
some time." In contrast to the bandwagon flock to direct note acquisition,
Post has identified the foregoing as a way to capitalize on the depressed real
estate market while avoiding the intangibility of loan purchases consistently
void of solid underlying collateral and absent of direct operational oversight
at the entity level. Mr. Ehrman goes on to add that, "While this approach may
not be as lucrative on exceptional assets, it enables us to significantly
reduce an investments risk-coefficient and still attain market leading
returns."

These acquisitions increase Post's collective holdings to over 6,200 units,
1,400 of which were acquired in the second half of 2009. Jason Post,
President of Post comments, "The next two to three year period will provide
multiple unique and opportunistic prospects for our company." He went on to
emphasize the increased importance of developing strategic relationships with
lending institutions and special servicers, stating, "The processes and
protections Post employs from both an operational and transactional standpoint
have enabled us to further access these entities and produce constructive
conversations unthinkable in prior years".

About Post Investment Group, LLC

Post Investment Group is an opportunistic real estate investment firm focused
on the acquisition of multi-family assets nationwide. The company specializes
is both core plus and distressed investment opportunities capitalized through
private and institutional investors.
www.postinvestmentgroup.com

SOURCE Post Investment Group, LLC

Post Investment Group, LLC, +1-310-481-0022