Crosland

Residential Division Recognized by the Industry’s Most Prestigious Multifamily Award for the Tenth Year in a Row

Charlotte, N.C., July 7, 2010 – Crosland LLC, one of the Southeast’s leading real estate companies, announces that its residential division has earned national acclaim for its excellence in customer service for the tenth consecutive year. This recognition by an independent third party, CEL & Associates, is a reflection of Crosland’s longstanding commitment to providing the highest level of customer service to its residents. It also validates the hard work of Crosland team members who stand behind that commitment every day.

Crosland Makes the “A List”

Each year CEL & Associates, Inc. compiles customer satisfaction survey data from residents within thousands of buildings and communities to determine which real estate organizations and properties are indeed the best in the industry. CEL & Associates’ National Real Estate “A List” Awards For Service Excellence are awarded to those who truly provide a superior level of service.

Apartment residents placed Crosland among the best of its industry peers through the CEL & Associate Inc.’s third-party survey. The award is given to one recipient in each category according to the number of properties under management. Crosland is one of only six multifamily award recipients nationwide.

“A decade of being placed among the top of the industry by our own residents is a testament to Crosland’s promise to residents by providing excellent customer service and high quality housing,” said David Ravin, Crosland’s president of the residential division. “This also provides reassurance to the owners we serve that we are providing great third-party management.”

More than 2.5 million residents in 6,000 apartment communities across the nation participated in the survey, which measures management performance and commitment to the highest level of quality and service.

“We couldn’t be more thrilled that our hard work has been recognized! The entire team is to be congratulated, and acknowledged as being among the best in the industry,” said Meg Pisczek, vice president of property operations and president of the Apartment Association of North Carolina.

With communities ranging from affordable housing to upscale mixed-use properties, Crosland’s multifamily portfolio totaling nearly 7,000 units includes 35 diverse apartment communities, varying from 40 to 568 residences, in Asheville, Cary, Chapel Hill, Charlotte, Durham, Gastonia, Greensboro, Raleigh and Wake Forest in North Carolina. Approximately 4,000 units are managed for third-party owners. Crosland maintains a 95 percent occupancy portfolio for its stabilized residential properties.

Triangle Area Honors

Some of the Triangle area communities participating in the survey included Oberlin Court, Southpoint Village and Weston Lakeside. Crosland is currently managing over 2,000 units in the area.

The company is also building Trinity Commons at Erwin in Durham slated to be completed at the end of the year. The eco-friendly community is registered in the LEED- NC program at the Silver level. Trinity Commons will consist of 342 luxury apartments with studio, 1 and 2 bedroom floor plan options. The luxury community across from Duke Medical Center will include a 3,000 square foot clubhouse complete with an outdoor pool, a climbing wall, cardio/weight room, indoor resistance salt water lap pool, indoor spa, steam room, and sauna.

About Crosland Investment Services LLC

Crosland Investment Services (CIS) is Crosland's property management, leasing and asset management business unit which manages assets on behalf of other owners. The division manages a total of approximately 4,000 multi-family units across North Carolina as well as over 3 million square feet of retail space across the Southeast for third parties.

The Investment Services team has extensive experience in navigating real estate economic cycles and is highly experienced in market analysis, competitive pricing strategies, product comparison and ancillary income generation. CIS’s third-party clients range from private investors to large institutions such as Northwestern Mutual, Ferncroft, ARA, AEW and Eastern Federal Corporation. CIS manages both stabilized and distressed assets. More information about Crosland’s residential communities can be found at www.croslandliving.com.