WOOD PARTNERS, NOVARE GROUP BREAK GROUND ON REALM, NEW CONDOMINIUM COMMUNITY AT PIEDMONT AND PEACHTREE ROADS

ATLANTA, February 4, 2005 - The development team of Wood Partners and Novare Group broke ground today on Realm, a 29-story, mixed-use high-rise in Buckhead. The groundbreaking also marked the first public announcement of the name chosen for the development.

Realm is located at Piedmont and Peachtree Roads and will contain 406 condominium units atop 13,000 square feet of street-level retail and 24,000 square feet of office space.

"We see tremendous opportunity in Buckhead for our brand of residential, high-rise communities," said Mark Randall, director at Wood Partners. "This will be one of the few places in Atlanta where, from your home, you can walk to work, MARTA and over two million square feet of high-end retail."

The contemporary building will contain one- and two-bedroom units with the amenities for which the Wood/Novare partnership is so well known - 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, ambient audio and satellite television. Community amenities will include 24-hour concierge services, elevated clubroom, exercise facility with top-of-the-line fitness equipment, reserved parking and controlled access. Street-level retail will provide convenience for residents, as well as for those who work in the immediate area.

Realm is designed to appeal to young professionals seeking a premier residence with top-notch service, advanced technology features and modern design in an urban setting. Condominium homes will be available for sale in summer 2005 and will range in price from the $160,000s to the $300,000s. For more information, visit the Realm website, www.realmatlanta.com.

The primary focus of the Wood/Novare team is new residential high-rise communities with distinctive urban architecture, rich amenities and quality construction at attractive price points. The team's first development, Metropolis, a 498-unit, mixed-use project in Midtown Atlanta, has met outstanding market acceptance. Other projects in Atlanta include: Eclipse in Buckhead, Spire in Midtown and TWELVESM Atlantic Station. For more information, visit www.woodpartners.com and www.novaregroup.com.