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AVANATH CAPITAL PARTNERS HIRES INDUSTRY EXECUTIVE ED HURLEY AS CHIEF OPERATING OFFICER

IRVINE, Calif., (August 6, 2008) – Avanath Capital Partners, a real estate investment firm headquartered in Irvine, Calif., has hired renowned industry executive Ed Hurley as Chief Operating Officer.

“I have known Ed as a respected competitor for nearly a decade,” said Daryl Carter, CEO of Avanath Capital Partners. “We share a common business philosophy and vision for the company. His tenacity and extensive industry knowledge and experience in the multifamily market will be a key component to the continued growth and success of Avanath Capital Partners.”

As Chief Operating Officer, Ed Hurley will oversee the day-to-day operations of the firm, including asset management, finance and accounting, risk management, information technology and corporate administration. Hurley will serve as a key force of consistency to ensure that Avanath moves forward in a unified direction as it continues to grow.

“Joining Avanath Capital Partners is an incredible opportunity to help lead and grow an already accomplished and highly respected team,” said Ed Hurley, COO of Avanath Capital Partners. “Daryl Carter and I have a long standing relationship and deep-rooted mutual respect as multifamily professionals. I look forward to contributing in a meaningful way by working to fulfill Avanath’s philosophy to build a successful business, as well as make a positive impact in the communities in which we work.”

Prior to joining Avanath Capital Partners, Hurley served as a Managing Director for Wachovia Securities, leading a West Coast expansion for Wachovia’s multifamily lending business. He joined Wachovia in 2003 when it acquired Lend Lease Mortgage Capital, the company he formerly led. During his tenure with Wachovia, Hurley was instrumental in building that company’s multifamily business into the top-ranked Fannie Mae multifamily lender in the country.

Hurley also served as president of Amresco Mortgage Capital, Inc., a spinoff of NationsBank, where he built and managed a national commercial lending platform, leading the company to be among the top Fannie Mae DUS and Freddie Mac Program Plus lenders in the country.

Hurley holds a Masters in Business Administration from the University of Pittsburgh and a Bachelor’s of Science in Applied Mathematics from Case Western Reserve University. He is an active member of the Mortgage Bankers Association of America, serving as Chair of the Commercial Board of Governors in 2006 and as a member of the Board of Directors in 2005 and 2006. Hurley also served as Chair of the Fannie Mae DUS Advisory Council and was a member of the NMHC Executive Committee.

Avanath is a real estate investment firm focused on affordable housing, urban real estate investment, mortgage services and specialty finance. Headquartered in Irvine, California, Avanath was formed in November 2007 by Daryl Carter, co-founder and former principal of Capri Capital Limited Partnership. Avanath is comprised of a highly-skilled entrepreneurial team of professionals averaging 19 years of real estate industry experience within industrial real estate investment, mortgage banking, capital markets, asset management and development. For more information about Avanath Capital Partners visit www.avanath.com.

PHOTO CAPTION: Avanath Capital Partners has hired renowned industry executive Ed Hurley as Chief Operating Officer.