NEWS RELEASE

Contacts: Bob Voyles, Seven Oaks Company, 404.364.8066, bvoyles@sevenoakscompany.com

Adam Orkin, Devin Properties, 678.297.2700, ext. 220, adam@devinproperties.com

TWO REAL ESTATE FIRMS FORM JOINT VENTURE TO DEVELOP 260 ACRES IN
NORTH FULTON & SOUTH FORSYTH AS TRADITIONAL NEIGHBORHOOD MIXED-USE

ATLANTA (July 14, 2005) – Devin Properties and Seven Oaks Company, two real estate developers in Atlanta, are pleased to announce a recent joint venture to develop more than 260 acres of land in North Fulton and South Forsyth counties in the next several years.

Bob Voyles, CEO of Seven Oaks, and Adam Orkin, CEO of Devin Properties, have formed a solid relationship over the past 10 years and share a mutual vision to apply traditional neighborhood development principles to projects they develop together in the Atlanta area.

The first phase of this multi-year venture is Deerfield Green, a 32-acre traditional, mixed-use live-work-play neighborhood in the Georgia 400/Windward Parkway Corridor located on Webb Road, adjacent to Deerfield Park in Alpharetta, GA. The traditional neighborhood development (TND) is in the zoning approval process currently, and expects final approval by Fulton County Commission in September.

The Webb Road property will be a pedestrian-friendly community including town-homes, urban village retail, live-work units and attractive public green space. In addition, approximately 75 percent of the mature hardwood trees on the parcel are being preserved. The design by the Atlanta based award-winning firm of Tunnell, Spangler and Walsh was selected after a design competition involving several of the Southeast’s preeminent land planning firms.

Construction for the Webb Road development consisting of 256 residential units and 56,000 square feet of office and retail space will begin by the end of the year. The first phase is part of a much larger joint venture between Devin Properties and Seven Oaks where both companies have agreed to develop more than 260 acres in North Fulton and South Forsyth Counties. Tunnell, Spangler and Walsh will also design the additional future phases of the development.

“This is a first step of what I think will be a long-term relationship,” said Adam Orkin of Devin Properties. “I think we are going to do some great things on the Atlanta landscape.”

“This joint venture is exciting for many reasons,” said Bob Voyles of Seven Oaks. “The primary benefit will be the positive impact this design will have on the quality of life of Deerfield and the surrounding North Fulton community.”

For more information: Chris Schroder with Schroder PR at 404.872.7289 or chris@schroderpr.com.