For Immediate Release May 10, 2008

For more information: Don Dees 703.805.2402

Fort Belvoir Residential Communities Host 1,000th New Home Celebration

Members of Congress, Military Officials, and Families Attend to Commemorate Important Milestone

Fort Belvoir, Va. - Fort Belvoir Residential Communities, a partnership between the Department of the Army, Clark Realty, and Pinnacle celebrated an important milestone at the 1,000th Home Celebration on Saturday, May 10, 2008.  The event, held in the Park Village Community of Fort Belvoir, included a ribbon-cutting ceremony, which was immediately followed by a community luncheon and family activities for the military families of Fort Belvoir. 

Speakers during the ceremony included Colonel Brian Lauritzen, Installation Commander at Fort Belvoir; Representatives James Moran and Thomas Davis; Paul Bollinger Jr., Deputy Assistant Secretary of the Army for Privatization and Partnerships (Installations and Environment); Major General Richard Rowe Jr., Commanding General Joint Force Headquarters National Capital Region and the U.S. Army Military District of Washington; Casey Nolan, Development Executive of Clark Realty Capital; and Dale Andrews, Investment Manager of Pinnacle.

"These homes around us - and all the other new homes coming up here at Fort Belvoir under the privatized housing initiative - are what right looks like, and a very important aspect of our military as we continue to improve the quality of life for Soldiers and their families," said Colonel Lauritzen.

Hundreds of military families from Fort Belvoir showed up for the event in the newly completed Park Village community.  New residents of the neighborhood, Command Sergeant Major Christopher Gonzales, his wife Sharon, son Nicholas, and daughter Melina took part in the ribbon-cutting ceremony.  Immediately following the ceremony, the partnership provided a barbeque luncheon along with activities for children including moon bounces, face painters, and balloon artists. 

"It is great to be able to celebrate the success of this milestone with our partners and the residents," said development executive Casey Nolan.  "Events such as this reinforce the importance of our work to improve housing for the military soldiers and their families who sacrifice so much for our country."

The development plan for Fort Belvoir spans eight years and includes the demolition and replacement of 1,630 homes and the renovation of 170 historically significant homes on post.  Since the partnership began development in 2004, the project has been awarded with such honors as MFE Military Project of the Year, Virginia Green Innovation award, and Outstanding Federal Planning award.  The trend-setting project was also recognized with the ICSC International Design and Development award for the first-ever town center on a Department of Defense installation.

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About Clark Realty

Clark Realty is a fully integrated national real estate company offering a broad base of services including capital markets, development, construction, property management, and investment management. The Army, Navy, Air Force, and Marines are leveraging the ingenuity and assured performance of Clark Realty at 12 military installations throughout the United States. Upon completion of current military projects, Clark Realty will have built or renovated over 34,000 homes with a development value in excess of $4.9 billion. For more information, visit www.clarkrealty.com.

About Pinnacle

Pinnacle, an American Management Services Company, is an international real estate investment management firm headquartered in Seattle. Pinnacle's portfolio, valued at more than $12.3 billion, includes properties in 42 states and 266 cities in the United States. Pinnacle manages more than 132,000 residential units nationwide, including 16,000 military family homes. Pinnacle was awarded the 2005 "Property Management Company of the Year" Award from the National Association of Home Builders.

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