Triple Net Properties Acquires Century Hills in Augusta, Georgia 

SANTA ANA, Calif., July 2 /PRNewswire/ -- Chief Investment Officer Jeff Hanson announced today that Triple Net Properties, LLC has acquired Century Hills on behalf of tenant-in-common investors. The acquisition closed on June 29, 2007.

   Century Hills is a 200-unit Class A apartment community in Augusta, the second largest city in the state of Georgia. Located on nearly 17 acres, the approximately 221,000-square-foot property includes eight residential buildings and a separate building that houses the community's leasing center and clubhouse. Century Hills provides a spacious average unit size of 1,105 square feet and offers many high-end features, including large gourmet kitchens, nine-foot vaulted ceilings with crown molding, and spacious walk-in closets. Community amenities include a resort-style swimming pool with sun-deck, fitness center, executive business center, gated access and lighted tennis courts. Century Hills enjoys ready access to Interstate 20 and the entire Augusta metropolitan area. Built in 2000, the property is approximately 96 percent occupied, and features a generous parking ratio of 2.4 spaces per unit.

   Triple Net Properties purchased Century Hills from Centennial Investment Properties, which was represented by John Brown of Marcus & Millichap. Financing was provided by Wachovia Bank, National Association.