n e w s

Backgrounder on Centergy North Joint Venture
Prepared by Schroder Public Relations
October 28, 2005
For More Information:
Chris Schroder, 404.872.7289
chris@schroderpr.com

JOINT VENTURE FORMED TO DEVELOP MIDTOWN TRACT INTO MIXED-USE PROJECT WITH OFFICE, RESIDENTIAL AND RETAIL

Centergy North LLC Formed

• A new joint venture was formed this week, called Centergy North Management, LLC
• Partners are Kim King Associates Inc., and Seven Oaks Company, LLC
• Centergy North will develop a 7.15-acre tract of land in Midtown Atlanta into mixed-use
• Project will include up to 1.2 million sf of office space, over 600 condominiums and street-level retail
• Land is currently vacant, formerly was location of Atlanta Coca-Cola Bottling Company
• Property bounded by Peachtree, Spring, Fifth and Williams streets
• Property is currently undergoing master planning process with interested community stakeholders,
including Ga. Tech, Midtown Alliance, and others.
• Bob Voyles, development partner for the venture, said it is Centergy North's objective to continue the vision originally outlined by Kim King and Ga. Tech for 5 th Street Corridor and extend that further north, creating an exciting pedestrian environment, thus fulfilling "spirit as well as letter of the law" of the Midtown Blueprint, and connecting the exciting residential developments going on further up Spring Street to the "Dynamic 5 th Street Corridor."

900 Units of Residential

• The project will market 3 acres of residential land located north of 8 th Street between Williams and Spring streets for mixed-use, non-office development.
• It is anticipated that the property, currently allowing up to more than 900 units of residential, will receive significant residential developer interest, due to its excellent visibility along the downtown connector and proximity to the soon-to-be-opened Publix store in the Daniels Condominium project next door.

About Kim King Associates Inc.

• Kim King Associates, Inc. ("KKAI") is an Atlanta-based, full-service real estate firm that creates value through commercial, residential and mixed-use development and through select acquisition and repositioning of underperforming assets. Formed in 1972 by Kim King, a former standout Georgia Tech quarterback, the firm has completed real estate and other business transactions in excess of $600 million.
• KKAI principal is D. Kimbrough "Beau" King Jr.
• KKAI developed Centergy One, (right) which is adjacent to Centergy North project.
• For more information on KKAI: www.kimkingassoc.com

About Seven Oaks Company, LLC

• Seven Oaks Company, LLC was founded last year by Bob Voyles, former senior development officer for Hines in Atlanta.
• Seven Oaks specializes in land development, suburban infill mixed-use office and residential development.
• Principals in Seven Oaks are Bob Voyles, president, and Trey Googe, chief operating officer.
• Several mixed-use development projects are currently under way at Seven Oaks including joint ventures with Devin Properties involving:
• 34 acres in North Fulton County, with 256 upscale, traditional-neighborhood-development-oriented townhomes and 50,000 square feet of mixed-use retail/office, live-work projects. (right)
• 166 acres in South Forsyth County at McGinnis Ferry that is in pre-development.
• While at Hines, Bob was responsible for the development and/or acquisition of over 4 million sf of office in Metro Atlanta over the last 10 years, including the 1180 Peachtree building in Midtown.
• For more information: 404.364.8065 or visit: www.sevenoakscompany.com