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CREEKSTONE COMPANIES FORMS DIVISION TO ACQUIRE/MANAGE MULTI-FAMILY PROPERTIES - Monday, March 22, 2004

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HOUSTON, March 22, 2004 Creekstone Companies, a Houston-based fully integrated real estate investment group, has created Creekstone Partners to acquire and manage multi-family real estate assets throughout the country. Creekstone Partners will focus on acquiring A & B multi-family properties with 150 plus units in primary and secondary markets. The company will also explore special projects, including repositioning of older assets. Company officials expect to acquire 15-20 properties in 2004, with a value of $400-500 million.

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