THE PRAEDIUM GROUP ADDS TO ACQUISITIONS TEAM

New York, NY – July 20, 2009 – The Praedium Group, a New York City-based national real estate investment firm, today announced that Andrew Scott has joined the firm's New York office to further enhance its analytical capacity at a point in time where the firm expects to see increased deal flow from the market. Mr. Scott was hired to add more resources to the firm's acquisitions team. Currently the Praedium Group has pre-committed capital and the purchasing power to acquire over $2 billion in real estate assets, through its Praedium Fund VII.

"We believe the marketplace is at a turning point. We are beginning to see the "bid-ask" spreads narrow and more product coming to the market with a real chance of transacting. We are staffing for what we believe will be some pretty attractive opportunities," said Russ Appel, president of The Praedium Group. "We are pleased to add someone with Andrew's experience and industry knowledge to our team."

Prior to joining The Praedium Group, Mr. Scott served as an Associate for the Real Estate Group at Perry Capital, an over $10 billion, multi-strategy hedge fund that manages a $650 million portfolio of real estate debt and equity investments around the world. While with the firm, he was responsible for real estate investment analysis across a broad range of geographical markets, property types and investment structures. Before joining Perry Capital, Mr. Scott honed his skills at Capital Trust (NYSE: CT), where he served as an Associate and head Analyst for investments in commercial real estate debt totaling over $700 million. Capital Trust originates, purchases and structures high-yield commercial real estate debt and manages a number of private equity funds and collateralized debt obligations (CDOs).

Mr. Scott earned a Bachelor of Science in Economics with a dual concentration in Finance and Real Estate from The Wharton School at The University of Pennsylvania.

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 billion in total investments to date in more than 275 transactions comprised of 45 million square feet of commercial space and 55,000 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 and portfolio manager, 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.