PRAEDIUM, COASTLINE SELL LOS ANGELES MULTI FAMILY PROPERTY FOR $16 MILLION

September 29, 2005 - New York -The Praedium Group LLC, a New York City-based national real estate investment firm, announced today a disposition of a joint venture property purchased with Hermosa Beach, CA-based Coastline Capital Partners, LLC. Rosemead Garden Apartments, located in the Pico Rivera area of Los Angeles at 7711 Rosemead Blvd., was sold to a private investor for $16.3 million or approximately $125,000 per unit.

Built in 1973, the 131 unit multi-family property was purchased in April 2004. The property offers 215 parking spaces, or 1.6 per unit, a pool, tennis courts, recreation room and courtyard. Praedium and Coastline renovated 45 units, improved the tennis courts and landscaping, and updated the leasing office. At the time of sale, the property was 95 percent occupied. The seller was represented by Chris Thompson, Senior Vice President at Encino, CA-based Investment Real Estate Associates.

Chris Hughes, a principal at Praedium, said, "This investment benefited from economic growth in the City of Pico Rivera and surrounding neighborhoods. Through our capital improvement program we were able to renovate 35 percent of the units and bring new appeal to the property. This was a successful investment that brought value to our tenants."

Steve Ludwig, a principal at Coastline Capital Partners, said, "We were able to surpass our business plan at this asset because of our in-depth research and knowledge of what needed to be done at the property, as well as understanding what was occurring in the macro-environment."

Coastline Capital Partners, LLC is a real estate investment company based out of Hermosa Beach, California whose aim is to realize an asset's full value by carefully assessing long-term hold, repositioning, and development opportunities throughout the Western United States. Coastline was formed in 2002 and has since acquired nearly $100 million in multifamily assets. To learn more about Coastline please visit www.coastlinecp.com.

The Praedium Group is a real estate investor focusing on under-performing and under-valued assets throughout North America, with $5 billion in total investments to date in over 200 transactions comprised of 38 million square feet of commercial space and 33,000 multi-family units. Praedium was formed in 1991 with a leading international investment bank as its sole investor.

Building on the experience and exposure gained through this original investment program, Praedium has been a sponsor of commingled real estate private equity funds since 1994. The funds sponsored by Praedium have attracted investors that include public and corporate pension funds, financial institutions, insurance companies and endowments.

Praedium is investing its most recent $700 million real estate private equity fund, Praedium Fund VI. This equity will be leveraged to acquire over $2 billion in properties. The fund invests in mid-cap assets throughout the United States and Canada in the $10 to $70 million range, targeting multi-family, office, retail and industrial property types. CDP Capital-Real Estate Advisory, a Montreal-based real estate advisor and portfolio manager, is a major shareholder of The Praedium Group. CDP Capital-Real Estate Advisory is an affiliate of the Caisse de depot et placement du Quebec, one of the world's 10 largest real estate managers. For more information, please see www.praediumgroup.com.