FOR IMMEDIATE RELEASE

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

Elaine Cole
ECCommunications
Elaine.Cole@att.net 817/991.4949

Atlas Properties Acquires Units in Piazza Siena Condominiums via Bulk Sale

DALLAS, Texas (January 4, 2010)- Atlas Properties has acquired 56 units in the 96-unit Piazza Siena condominium development (www.piazzadallas.com) located in the Oaklawn area of Dallas. The purchase increases Atlas Properties' holdings in the DFW Metroplex, following upon the purchase in September of the Historic Electric Building in downtown Fort Worth. Atlas is the 123rd fastest-growing private company in the U.S. according to Inc. magazine.

Piazza Siena Condominiums is a Class A 96-unit development built in 2001 and converted to condos in 2007. Located at 3102 Kings Road in Oaklawn, the property is convenient to downtown Dallas, the West Village and Uptown. The European-style building has a long list of amenities, including: large piazza courtyard, free wireless internet, business center, underground parking, swimming pools, fitness center and fountain views. The units feature granite countertops, stainless steel appliances, nine-foot ceilings, travertine flooring and oversized oval tub in the master bath.

DFW-based Atlas Properties, which acquired the 56 units as a principal in partnership with Dallas-based Trinity Private Equity Group, will manage the condominiums, rebrand the property, make some capital improvements, and sell the remaining units to owner occupants. Transwestern Dallas Multifamily Group represented the seller.

"I am excited to bring these condos to market priced significantly below historical prices and competing projects," said Adam Blake, President of Atlas Properties. "This is a unique investment opportunity due to the quality and location of the property, and the ability to be economically competitive in the Dallas condo market."

Atlas Properties will price the one-bedroom condominiums starting at $99,000 and the two-bedroom condos starting at $135,000. The condos were selling for as high as $240,000 in 2008. The project also has multiple financing opportunities for buyers, offered through local lenders, including a CRA and professionals loan program with 97% financing available. Buyers will also have the ability to customize their units by choosing from different granite options, paint colors, and bathroom styles.

"We want to make owning a Dallas condominium affordable," said Blake. "At our new prices, it is either the same price or cheaper to purchase a luxury condo at Piazza Siena as it is to rent a similar apartment."

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. Atlas was recently ranked the 123rd fastest growing private company in the US according to Inc. Magazine.