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April 10, 2006 For More Information:
Joy Lutes 877.846.7760
The St. James, Philadelphia, PA Awarded Best High-Rise Apartment Community
National Association of Home Builders Honors Clark Realty Capital with Nationally Acclaimed "Pillars of Industry Award"

The St. James, Philadelphia, PA Awarded Best High-Rise Apartment Community
Bethesda, Md — Clark Realty Capital's St. James Apartments were recently honored by the National Association of Home Builders (NAHB) with its nationally acclaimed Pillars of Industry Award for "Best Luxury Rental Apartment Primary Market." The National Association of Home Builders presented this coveted "best of the best" award at its NAHB conference recently held in Scottsdale, Arizona.

"The St. James is a great example of history meeting high-rise luxury," said Jerry Howard, CEO and Executive Vice President of the National Association of Home Builders. "This winning property incorporated four existing eighteenth century buildings into a residential skyscraper that has changed its city's skyline."

According to Howard, Pillars Awards judges were particularly impressed with what the St. James offers its residents - including floor-to-ceiling windows, private balconies with cityscape views, advanced communication services, 24-hour concierge, doorman and valet services, a 60-foot year-round pool, and a private connecting entrance to neighboring retail and office spaces.

The Pillars Awards, considered the most prestigious national awards in the industry, honor excellence in apartment and condo design, development, marketing,and management. Given by the NAHB and sponsored by Freddie Mac, the Pillars Awards are looked to by the industry and media as a showcase of future trends and innovation in multifamily housing.

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About Clark Realty Capital

Clark Realty Capital is an award-winning, privately-held real estate company actively investing in, developing and financing major real estate projects across the nation. Clark Realty Capital's developments include mixed-use properties; high-rise and luxury garden-style apartment communities; military family housing; and multi-phase land development. In the past seven years alone, Clark Realty Capital has developed projects worth more than $6 billion. 2005 accolades include top honors for innovative development and smart growth design from the National Association of Home Builders, Multifamily Executive Magazine, and the Congress of New Urbanism.