May 2, 2006

Magellan Realty, LLC

MAGELLAN REORGANIZES SALES, MARKETING TEAM

One of Chicago’s most successful sales and marketing teams, Magellan Real Estate Group Ltd., has been reorganized as Magellan Realty, LLC, while continuing as Chicago’s leading condominium sales expert with incomparable experience in the downtown Chicago market.

Leading the veteran sales staff as president is multiple sales award winner Leila Zammatta. Adding marketing punch to Magellan Realty as director of sales and marketing is Tricia Van Horn, who continues as vice president of sales and marketing for Magellan Development Group, LLC.

The Magellan Realty team has been recognized for its ability to outperform and produce results, which is demonstrated by its impressive portfolio. Zammatta and her veteran group captured 2004 and 2003 residential gold sales awards for both unit and dollar volume from the Chicago Association of Realtors. In the span of the past five years Magellan Realty has surpassed $250 million in sales volume.

Magellan Realty has earned its role and position in the Chicago market. Their effort and experience have made them a leader in the real estate market with a productive network of client contacts and affiliation with the brokerage community.

Recent luxury condominium projects created by Magellan and its affiliates in the River North, Gold Coast, Near West Side and New East Side neighborhoods include 21 West Chestnut Place, Park Newberry at Delaware Place, 630 North State Parkway, The Farallon Condominiums at 600 N. Dearborn Street, Admiral’s Point at Kingsbury and Ohio streets, The Caravel at Dearborn and Ontario, Park Alexandria at 125 S. Jefferson and The Lancaster and The Regatta at Lakeshore East, a $4 billion new community in the New East Side.

Magellan supplements its sales activity with in-house services ranging from public relations to consulting services in development and management. Affiliate companies include a law firm, mortgage company, title company and concrete distributor. Providing a range of services and expertise is a key to why Magellan is a top provider in the real estate market.