09/17/2007

Major Renovation Scheduled for Another Established Senior Living Facility in St. Louis' Premier Neighborhood.

Hyder & Company and Strategic Capital Partners acquire a 72-unit independent living facility in St. Louis area.

Senior living continues to gain interest around the Midwest with the acquisition of another 72 independent living units in St. Louis by Steve Margetic, owner of Hyder & Company - a San Marcos, California-based real estate company - and Maurice Arbelaez, a predominant leader in the healthcare industry based in Overland Park, Kansas. The acquisition was completed in partnership with a commingled fund managed by Strategic Capital Partners, LLC ("SCP"), a real estate investment management company based in Chicago.

Brentmoor Place is located at the intersection of Old Bonhomme Road and McKnight Road in University City, Missouri, just minutes from downtown Clayton. The property contains 72 independent living units and is currently 70% occupied. Immediate plans call for several capital improvements which will upgrade the asset both structurally and cosmetically.

"As the sister property of our May acquisition, Brentmoor Retirement Community, we see numerous synergies for two senior housing providers located within a mile of each other," said Margetic. "That, combined with the capital program planned, will allow us to improve upon the current occupancy level in a relatively short time frame."

Added Robb Bollhoffer, Vice President of Acquisitions at SCP, "This asset will be a great addition to our existing St. Louis portfolio, and we are pleased to have two leaders in the healthcare industry as partners. The planned renovation and capital improvements will upgrade the facility, bringing a higher level of care to the residents."

Arbelaez and Margetic have more than forty years combined experience in the senior housing and healthcare sectors, encompassing development of 20+ senior projects and management of more than 12,500 units. The development of innovative levels of care, combined with their extensive experience in quality of care, has resulted in a reputation for excellence in the improvement of the residents' quality of life and properties' financial performance.

Strategic Capital Partners, LLC is a privately-held real estate investment management firm that employs a value-added investment strategy of acquiring commercial and multi-family properties via joint ventures with experienced local real estate operators. SCP is focused on properties across the United States that can be repositioned, re-leased and/or redeveloped. The Company is headquartered in Chicago with offices in Indianapolis and New York City.

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Major Renovation Scheduled for Another Established Senior Living Facility in St. Louis' Premier Neighborhood.