TAURUS ACQUIRES BROOKLYN HEIGHTS LANDMARK--THE STANDISH ARMS

Taurus Investment Holdings, LLC announced today the recent closing of the purchase of the former Standish Arms Hotel at 169 Columbia Heights, Brooklyn, New York. 169 Columbia Heights is a 74,000 square foot, 12-story residential building with unparalleled views of lower Manhattan, New York harbor, and the Brooklyn Bridge. Taurus will reposition the Standish as a full-service residential building offering high-end, luxury rentals, some of which will be offered for immediate occupancy. The building will undergo minor interior renovations and provide a new supply of much in demand rental product to this vibrant neighborhood.

The $50 million acquisition of 169 Columbia Heights represents Taurus' first acquisition in the New York market and was capitalized with financing provided by Commerce Bank.

For further information on this or other Taurus global real estate products, please contact Patrick M. McGrath (pmcgrath@tiholdings.com) or David R. Moson (dmoson@tiholdings.com at (212) 249-6600.

TAURUS INVESTMENT HOLDINGS, LLC

In 1976, Taurus was founded in Munich, Germany. In 1979, it initiated business operations in the United States. For over 30 years, Taurus has documented an impeccable track record of significant above-market returns by holding to its philosophy of: 1.) Preservation of principle, 2.) Providing superior risk-adjusted returns, and 3.) alignment of interests with investors.

While previously focusing on German capital, since 2001 Taurus has become a trusted partner for US investors while expanding its access to capital in many parts of the world.

Taurus is recognized as a highly-entrepreneurial owner/operator of more than 10 million square feet of real estate worldwide. With 16 operating subsidiaries, Taurus has become one of the premier owner/operators of directly managed and joint venture commercial real estate in North and South America, Western Europe, and most recently, Istanbul.

Since its inception, Taurus has purchased and sold over 20 million square feet of office, industrial, retail, residential and hotel assets. Taurus is widely recognized as a strategic real estate owner/operator specializing in value creation through a mix of development, redevelopment, lease-up and intensive professional management of each individual investment. Through the combination of its international regional office platform and extensive capital resources, Taurus successfully brings together a unique blend of local entrepreneurship with global financial strength.