FOR IMMEDIATE RELEASE
Contact: Herman Bulls, President & CEO
+1 (202) 256-1814
herman.bulls@bullscapitalpartners.com

Bulls Capital Partners Arranges $85.5 Million Loan for Acquisition of a 1,738-Unit Apartment Property in Georgia

Vienna, Virginia, September 14, 2005 -- Bulls Capital Partners LLC, a multi-family financial services provider and Fannie Mae Delegated Underwriting & Servicing (DUS™) lender, today announced it has closed on an acquisition loan in the amount of $85.5 million to RREEF on behalf of an institutional client, for the purchase of a 1,738-unit apartment development in Smyrna, Georgia.

Bulls Capital Partners underwrote, closed and funded the transaction in 45 days. SunTrust, a loan correspondent to Bulls Capital Partners, originated the loan.

The loan is secured by Post Village Apartments. RREEF acquired the property from Post Properties for $132.5 million, funded through the assumption of three existing tax-exempt bonds totaling $47.5 million and the issuance of a new $38 million taxable loan, structured as a Fannie Mae ARM.

“We were pleased to be selected by RREEF to provide financing for this excellent asset,” said Herman Bulls, President and CEO of Bulls Capital Partners. “Our team of professionals quickly assessed RREEF’s financing needs, evaluated numerous structuring alternatives and provided a financing solution which met the stringent requirements of this high quality institutional investor. Our excellent working relationship with SunTrust and the dedication of our seasoned finance team allowed us to meet a very demanding underwriting and closing schedule.”

“The speed and quality with which this transaction was completed demonstrated the talent of our professionals and their commitment to meeting the expectations of borrowers in this highly competitive environment,” said Mark Van Kirk, Co-founder and CFO of Bulls Capital Partners. “We enjoyed working with RREEF to close this transaction in near record time.”

Post Properties built Post Village Apartments, located in Smyrna, Georgia in five phases from 1983 to 1988. Post Village Apartments provides a mix of studio, one-, two- and three-bedroom units, with an average size of 906 square feet. Unit amenities include storage areas, fireplaces, patios or balconies, and ceiling fans. Property features include a leasing center, a resident business center, seven swimming pools, eleven tennis courts, picnic areas, car wash services, a dry-cleaning drop-off, on-site ATM and a cardiovascular fitness center open to all residents. A separate fitness center encompasses 11,000 square feet and includes an indoor track, fitness equipment and aerobics room. Residents also have access to a 25-acre nature reserve and a 2-½ mile jogging trail. .

Hank Harris, Managing Director of SunTrust Capital Markets originated the loan. “Bulls Capital Partners was able to provide a smooth and seamless transaction that exceeded the client’s expectations. I am pleased to have the entire Fannie Mae product line available to my clients through Bulls Capital Partners as it adds another complementary product to the SunTrust real estate capital array.”

About RREEF

RREEF, a leading US based real estate investment manager, is a division of DB Real Estate, the real estate investment management group of Deutsche Asset Management. As of June 30, 2005 RREEF manages $23.64 billion in pension fund real estate investments for over 399 corporate, public and international clients. Its activities include private and public market equity investments ranging from core investments to higher return/higher risk holdings, including development. RREEF has 113 property management offices nationwide and property acquisitions offices in San Francisco, Chicago and New York.

About Post Properties

Post Properties, Inc is a leading developer and operator of upscale multi-family apartment communities, with a total market capitalization of over $2 billion. The Company operates as a real estate investment trust whose primary business consists of developing and managing Post brand name apartment communities for its own account. Post Properties owns 23,740 apartment homes in 60 communities.

About Bulls Capital Partners, LLC

Bulls Capital Partners, LLC is a Fannie Mae approved Delegated Underwriting and Servicing (DUS) lender that offers a full array of financing solutions to owners of multifamily property. Bulls Capital Partners’ key capabilities under the DUS program include small loan solutions, affordable housing solutions, student housing, market-rate multifamily mortgages and credit facilities, among other offerings.

Bulls Capital Partners is a joint venture of SunTrust Bank, one of the nation’s largest commercial banking organizations, and Bulls Multifamily, LLC, a minority-controlled firm headed by President & CEO Herman Bulls. Mr. Bulls previously ran a successful DUS lending operation, and currently leads the securitization of tens of thousands of military housing units as President of Public Institutions at Jones Lang LaSalle, a leading global real estate services firm. Mr Bulls co-founded Bulls Capital Partners, LLC with Mark Van Kirk, Chief Financial Officer. Mr. Van Kirk previously served as Director of Counterparty Risk at Fannie Mae.