RECAP REAL ESTATE ADVISORS OPENS NEW YORK OFFICE

August 3, 2010

BOSTON – (AUGUST  3, 2010) – Recap Real Estate Advisors (Recap), one of the nation's recognized experts in the finance, restructuring, and asset management of multifamily residential properties, today announced the opening of its first regional office. The office, located at 909 Third Avenue (at 54th Street) in New York City, officially opened for business on August 2.   Recap is the financial services and asset management group of Consolidated American Services, Inc., the parent company of Riverstone Residential Group, one of the largest third-party multifamily management companies in the United States.

"For many years we have worked very successfully in the New York City market, assisting our clients and financial partners in maximizing the value of their investments in multifamily residential housing," said Recap CEO Todd Trehubenko. "Establishing this office enables us to better serve our growing list of clients in the New York area, and better positions us to identify and execute new business opportunities in and around the City." 

Recap Real Estate Advisors’ services include multifamily asset management, financial transactions, strategic planning, capital needs assessments, energy audits and green physical needs assessments. Its capital planning services are provided by On-Site Insight, a Recap Real Estate Advisors company.  The company currently employs 27 professionals. 

About Recap Real Estate Advisors

Recap Real Estate Advisors is a Boston-based financial services company that provides solutions to complex multifamily asset problems.  It is the financial services and asset management group of Consolidated American Services, Inc. Over the company's history, Recap has completed transactions on more than 800 properties nationwide, with aggregate property value of more than $2.7 billion. It currently manages $4 billion in multifamily assets.  On-Site Insight, a Recap Real Estate Advisors Company, has performed more than 6,000 capital needs assessments. Visit www.recapadvisors.com for more information.

About Riverstone Residential Group

Riverstone Residential Group is one of the largest third-party multifamily apartment management companies in the United States. Focused exclusively on the delivery of unparalleled property management services including utility management services, resident screening and receivables services, client and resident insurance, and purchasing services, the company manages a portfolio of multifamily assets valued at more than $15 billion for leading institutions, pension funds, developers and other major owners. Located in metropolitan markets across the nation, the more than 650 managed apartment properties include high-rise, mid-rise, and garden-style communities in conventional, affordable and receivership assets. The company is headquartered in Dallas, TX. For additional information, visit www.RiverstoneRes.com or e-mail ClientServices@RiverstoneRes.com.