Crosland Earns National Recognition for Excellence in Multifamily Customer Service

Apartments Division Captures Award for Fifth Consecutive Year

Charlotte, N.C., March 11, 2005 – Crosland Inc., one of the Southeast’s leading real estate companies, has won the 2004 National Multifamily Customer Service Award for Excellence for the fifth consecutive year. Based on resident surveys conducted by an independent real estate consulting firm, the award recognizes Crosland for its management performance and commitment to the highest level of quality and service across all of its apartment communities.

“To win this award for five years running proves that Crosland manages its apartments to the industry’s highest standards,” said Jud Little, president of Crosland’s apartments division. Adam Ford, Crosland’s vice president of property operations added, “We have no greater measure of success than customer satisfaction, so to receive independent confirmation of this success is rewarding. We have the best people in the business at Crosland.”

Crosland’s portfolio includes 25 diverse apartment communities. They vary from 40 to 500 units, range from 1 to 50 years old, and are dispersed throughout Charlotte, Greensboro, Chapel Hill, Raleigh, Cary and Asheville in North Carolina. These communities provide homes for residents at all stages of life and income levels; in fact, 8 properties singled out for individual recognition are affordable housing communities.

More than 4,300 multifamily properties, representing approximately 800,000 units, participated in the competition for 2004. The awards were based on a third-party customer satisfaction survey conducted by CEL & Associates, the nation’s largest surveyor of resident satisfaction within the multifamily real estate industry.

The award recognizes those real estate firms that provide superior service to their customers, build industry awareness of the impact of quality and service on the bottom line, and set national benchmarks from which others can measure success. The National Multifamily Customer Service Award for Excellence is a part of the coveted National Real Estate Awards, considered one of the most sought-after recognition programs within the real estate industry.