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FOR IMMEDIATE RELEASE
June 12, 2003
Contact: David Songy of Songy Partners Limited at 404-995-8170

SONGY PARTNERS ACQUIRES JACKSON PLAZA
IN OAK RIDGE, TENN.

KNOXVILLE, TENN. - Atlanta-based Songy Partners Limited, a commercial real estate investment firm, acquired Jackson Plaza in Oak Ridge, Tenn., a 10-story office complex on eight acres of prime commercial property along the Oak Ridge Turnpike. The acquisition was completed in April 2003, and was Songy's third acquisition in ten months with their new equity partner, Boston-based Charlesbank Capital Partners.

The 10-story office building has two 2-story wings, with a total of 178,000 square feet. Songy plans to upgrade and modernize interior building systems, and increase the occupancy level from 45% to a stabilized level. The complex, consisting of the high rise and two other buildings, was built in 1980 by J.W. Gibson. "The project simply needed new sponsorship and a fresh source of capital to revive it," said David B. Songy, Chief Executive Officer of Songy Partners Limited.

The city of Oak Ridge was established in 1943 by the federal government. First known as the Manhattan Project, it was secretly developed for the purpose of making nuclear weapons, which were used to end World War II. In the beginning of the city's history, approximately 75,000 people were brought from all over the United States and the world to construct the facilities and to work in the federal and city installations.

Oak Ridge's current population of nearly 30,000 is employed by both private and public sectors in the energy research and development fields, making Oak Ridge one of the world's largest research centers.

For further information contact David Songy of Songy Partners Limited at 404-995-8170.
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