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GREENSTONE BREAKS GROUND ON BUILD-TO-SUIT IN NORTH AUGUSTA

October 24, 2014

 ATLANTA: October 23, 2014 – Today, Greenstone Properties ("Greenstone"), and its capital advisor Patterson Real Estate Advisory Group ("Patterson"), announced the commencement of construction on a +60,000 square foot, build-to-suit office building in North Augusta, South Carolina (the "Project"). The +$9.8 million development will be occupied by Medac, Inc., a healthcare services firm that assists clients with the business management functions associated with the delivery of anesthesia services. Medac has signed a 15-year lease and construction completion is expected in summer 2015. Patterson arranged a +$7.3 million construction loan with Bank of North Georgia. "Medac has experienced significant growth over the past several years and this facility will allow them to vastly improve logistics and general efficiency by consolidating their three offices into one headquarters. , said Chris Schoen, a principal of Greenstone. "Medac’s need for a large space of their own coupled with incentives offered by the city of North Augusta prompted them to make this strategic investment that will ultimately foster long term success."

The city of North Augusta contributed the underlying land and is also constructing and financing a multilevel parking garage adjacent to the Project to be utilized by Medac.

"North Augusta is experiencing an exciting surge of activity, and Greenstone’s vast build-to-suit development experience, the incentives offered by North Augusta and the steady growth exhibited by Medac combined to create a compelling opportunity," said Lance Patterson of Patterson. "The Project will be a catalyst for additional development in the immediate vicinity."

The Project is located alongside the Savannah River adjacent to another Greenstone development, Project Jackson, a 30-acre public and private mixed-use development. As the master developer of the entire site, Greenstone will develop a new, city-owned baseball stadium for the Augusta Green Jackets as well as 50,000 square feet of retail. Project Jackson is expected to deliver in the spring of 2016.

ABOUT GREENSTONE PROPERTIES

Greenstone is a privately owned, boutique real estate firm based in Atlanta. Greenstone is boutique by design, as its principals desire to practice real estate rather than management and endeavor to be project driven rather than overhead driven. Greenstone enjoys the opportunity to provide high quality service to its clients and customers and the opportunity to create value for its investors. While Greenstone principals are responsible for specific functional disciplines, they are entrepreneurs by nature, which allows them to embrace a full range of real estate opportunities. In short, Greenstone is a full service real estate company with broad experience in office development, retail development and land management. Greenstone develops speculatively for its own account, but also specializes in providing build-to-suit solutions for corporate users. Under either scenario, Greenstone believes that the underlying real estate is the critical component from which design and development is incorporated to create vertical projects of meaningful scope and quality.

ABOUT PATTERSON

Patterson Real Estate Advisory Group is a capital placement and real estate finance advisory firm that represents owners, developers and investors seeking capital to leverage commercial real estate opportunities. Patterson arranges construction, bridge, mezzanine and permanent financing while also coordinating equity and joint venture formations along with general finance advisory work. The primary focus is helping clients across different property types access investors at a variety of different levels of the capital stack, matching the specific need with the appropriate capital provider.

For more information, please contact Ken Grimes at 404-504-6685 / kgrimes@pattersonreag.com or go to www.pattersonreag.com.