PRAEDIUM GROUP HIRES DAVID DOWELL TO OVERSEE MIDWEST ACQUISITIONS

New York, NY – March 19, 2008 -The Praedium Group, a New York City-based national real estate investment firm, names David Dowell, as vice president of acquisitions for the Midwest region. In this capacity, Mr. Dowell is responsible for identifying and acquiring assets that meet Praedium’s opportunistic, value-added investment strategy. Praedium sees prospective opportunities in this region as it invests equity from Praedium VII. Praedium VII has the purchasing power to acquire $3 billion in real estate assets. Currently, the fund has acquired over $300 million in multifamily, retail and office property acquisitions. .

“We believe the disrupted environment will provide increasingly attractive opportunities for value-add investing going forward. In preparation for these opportunities, we have enhanced our origination capabilities,” said Chris Hughes, principal of The Praedium Group. “David has joined our team to focus on expanding our reach in selected Midwestern markets.”

In this role, Mr. Dowell will be responsible for asset transaction sourcing and acquisitions, through existing and new relationships in selected Midwestern markets. He will draw on his strong industry relationships, asset product knowledge, and investment analysis skills to identify and acquire value-added properties on behalf of Praedium.

Prior to joining Praedium, Mr. Dowell served as Associate Director of GE Real Estate- North America Equity Investments Group where he was responsible for sourcing and underwriting investments, as well as structuring joint venture equity and preferred equity partnerships across all property types.

Mr. Dowell earned an M.B.A. in Real Estate Finance from New York’s Columbia Business School, as well as an M.A. in Quantitative Data Analysis (QMSS) from Columbia Graduate School of Arts & Sciences. In addition, he earned a B.A. from Emory University in Atlanta, Georgia.

About The Praedium Group -The Praedium Group is a real estate investor focusing on under-performing and under-valued assets throughout North America, with over $7.0 billion in total investments to date in more than 275 transactions comprised of 45 million square feet of commercial space and 55,100 multifamily 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.

Cadim, a Montreal-based real estate investor, is a major shareholder of The Praedium Group. Cadim is a division of the Caisse de depot et placement du Quebec and a member of the Real Estate group of the Caisse. The Caisse is one of the world's 10 largest real estate managers among pension fund managers.

For more information, please see www.praediumgroup.com.