Novare Group and Coro Break Ground on Gallery Condominiums

ATLANTA - January 18, 2006 - Novare Group Holdings, the Atlanta-based developer of high-rise condominiums, and real estate investment company Coro Realty Advisors officially broke ground today on Gallery, a 27-story condominium project located on Atlanta's famed Peachtree Road in Buckhead. The groundbreaking ceremony was attended by representatives from Novare and Coro, as well as local business and civic leaders. The 203-unit building will feature one-, two- and three-bedroom attractively-priced luxury condominium homes, and construction is expected to be completed in Fall 2007.

"Atlanta's intown condominium market is evolving, and the increased demand for luxury high rise living is making its way to a more mature segment of the population," said Jim Borders, President of Novare Group. "We are answering that demand by creating a home with the features of a grand residence in addition to the state-of-the-art services and amenities for which Novare Group is known. Gallery will be exceptional product in terms of both quality and value."

Gallery is a distinctive marriage of classic and contemporary architecture forged from a collaboration of two nationally-recognized, award-winning Atlanta firms - architects Smallwood, Reynolds, Stewart, Stewart & Associates and residential designer William T. Baker. In addition to its architectural pedigree, the building will incorporate many of Novare Group's well-known amenities and stylistic touches, including floor-to-ceiling glass, large balconies, 10-foot ceilings, kitchens with granite and stainless steel and high-tech features such as ultra-high speed Internet access and pre-wiring for surround sound. Community amenities will include a resort-style pool deck with outdoor fireplace and grilling areas, traditional and "virtual" art galleries, club-quality fitness center with aerobic and weight areas, two club rooms with high-definition plasma TVs and other amenities, guest suites, tennis court, green space and multiple Wi-Fi hot spots. Residents will also experience the convenience of 24/7 concierge service, controlled access and reserved parking. Homes at Gallery will average 1,700 square feet and will have traditional foyers, increased storage, hardwood floors, and high end appointments.

Located on Atlanta's legendary Peachtree Road in the heart of the fashionable Buckhead neighborhood, Gallery is convenient to Atlanta's world-class shopping, restaurants and cultural/entertainment attractions, including the Georgia Aquarium and Woodruff Arts Center.

"This development will create an exceptional living experience in Atlanta's most prominent neighborhood," said John Lundeen, President of Coro Realty Advisors. "Our goal is to develop a stunning tower with exceptional views, comfortable yet elegant living spaces, and accessibility to most of Atlanta's major destinations, all at very favorable price points relative to the quality of the homes."

Sales have already begun, and more than 25 percent of residences are under contract. The sales center is located in the Promenade at Peachtree Battle Shopping Center, 2385 Peachtree Road. Prices range from the $370,000's to the $800,000's. For more information, visit www.gallerybuckhead.com.

This is Novare Group's third condominium project in Buckhead, following in the footsteps of Eclipse, completed in 2005, and Realm, currently under construction and slated for completion in Spring 2006.