FOR IMMEDIATE RELEASE

Press Contacts:
Laci Bates
Atlas Properties
Laci@AtlasProps.com 817/924.9780

Atlas Properties Acquires Units in Liberty Lofts via Bulk Sale

FORT WORTH, Texas (May 6, 2010)- Atlas Properties has acquired the remaining 27 units in the 34-unit Liberty Lofts condominium development (www.thelibertykc.com) located in the Crossroads area of Kansas City Missouri. The purchase is Atlas Properties' first Kansas City condo acquisition but adds to Atlas’ existing portfolio of condo units purchased via bulk sales.

The Liberty Lofts is a Class A 34-unit redevelopment project that took place from 2004-2007. The entire building was upgraded with new plumbing, electrical service, elevators, fire sprinkler systems, and other first class upgrades. Located at the corner of Pershing Rd and Broadway, the property is convenient to downtown Kansas City, the Crossroads and Crown Center. The modern-style building has a long list of amenities, including: rooftop deck, free wireless internet, true loft style designs, abundant covered parking, fitness center and great downtown views. The units feature modern style kitchens, stainless steel appliances, high ceilings, stained concrete flooring and accented color walls.

Fort Worth based Atlas Properties, which acquired the 27 units as a principal in partnership with Dallas-based Trinity Private Equity Group, will manage the condominiums, make some capital improvements, and sell the remaining units to owner occupants.

"We are excited to bring these condos to market priced significantly below historical prices and competing projects," said David Blake, Regional Project Manager at Atlas Properties. "We view this as a unique investment opportunity due to the high quality construction work, location of the property, and ability to market the units at very affordable prices.”

Atlas Properties will price the one-bedroom condominiums starting at $89,000 and the two-bedroom condos starting at $139,000. The condos were selling for as high as $340,000 in 2007. The project also has multiple financing opportunities for buyers, offered through local lenders, including a loan program with 95% financing available. Buyers will also have the ability to customize their units by choosing from different countertop options, paint colors, location of partition wallsand custom fixtures.

"We want to make owning a condominium affordable," said Blake. "At our prices, it will be the same price or cheaper on a monthly basis to purchase a unit atLiberty Lofts than to rent."

About Atlas Properties
Atlas Properties was founded in 2004 and has grown by managing, owning, syndicating, and developing residential, commercial, and mixed-use properties throughout the United States, with Dallas-Fort Worth being its primary market. Atlas also provides real estate syndication, management, and brokerage services. A few of Atlas’ recent acquisitions include an 18- story mixed-use high rise in downtown Fort Worth and 56 units in the Piazza Siena condominiums in Dallas. Atlas was recently ranked the 123rd fastest growing private company in the US according to Inc. Magazine.