MWD Morgan Stanley

ATLANTA and NEW YORK, Nov. 28 /PRNewswire/ -- Lane Company and Morgan Stanley Real Estate, on behalf of a major institutional client, have entered into a $150 million joint venture to invest in apartment acquisitions, condominium conversions, and new development in major metropolitan areas throughout the Southeastern United States. "This joint venture between Lane and Morgan Stanley Real Estate allows us to take advantage of opportunities that exist in the Southeast, which has very strong multifamily demographics," said Lane Company CEO Bill Donges. "The venture will be weighted more heavily towards apartment acquisitions and will target high-quality locations for core through value-added acquisition opportunities." "Multifamily is a highly sought after property type," said Dave Hardman, Managing Director and Head of U.S. Real Estate Investing at Morgan Stanley. "Lane Company's apartment expertise will enable us to deliver our investor client the high risk-adjusted returns that multifamily investments provide." Lane Company is one of the nation's leading multifamily real estate firms. Its projects include the award-winning apartments and condominiums in Atlantic Station(R), a live/work/play community in Midtown Atlanta and the Radius condominiums in Hollywood, Florida. In September Lane Company acquired Broadway Station Apartments in Myrtle Beach, SC, which it will convert into condominiums. In January it announced it would redevelop the Dulaney Valley Apartments in Towson, Maryland into a luxury apartment and condominium community. About Morgan Stanley Real Estate Morgan Stanley Real Estate is comprised of three major global businesses: Investing, Banking, and Lending. Since 1991, Morgan Stanley has acquired more than $68.7 billion of real estate assets worldwide and currently manages $38.0 billion in real estate assets on behalf of its clients. Using its own capital, Morgan Stanley also originates upwards of $11 billion in commercial mortgages annually. In addition, Morgan Stanley Real Estate provides a complete range of investment banking services including merger, acquisition and restructuring advisory and recapitalizations, as well as public and private debt and equity financing. Morgan Stanley established its real estate organization in 1969. Morgan Stanley (NYSE:MWD) is a global financial services firm and a market leader in securities, investment management, and credit services. With more than 600 offices in 28 countries, Morgan Stanley connects people, ideas and capital to help clients achieve their financial aspirations. About Lane Company Lane Company (http://www.lanecompany.com/) is an award winning, vertically integrated, full-service multifamily real estate company. Lane's expertise extends to all areas of real estate including property management, asset management, development, construction and condo conversion and sales. With over 30 years experience, Lane Company is recognized as one of the most innovative, efficient and technologically-advanced firms in the multifamily industry. - Lane Investment and Development has developed more than 13,000 condominium homes and apartment units at costs of more than $1 billion - Lane Realty Construction has built more than 11,000 units and constructed over 100 multifamily and commercial projects. - Lane Company is an Accredited Management Organization and manages approximately 30,000 apartment units in eleven states. - CondoLane, the condominium sales and marketing division of Lane Company, sells and markets condos for Lane Investment and Development as well as third party clients. - Lane Asset Management provides asset management and investment management and reporting services to equity partners and Lane's affiliates with real estate portfolios. DATASOURCE: Lane Company CONTACT: For media-related calls only, Terri Thornton of Thornton Communications, +1-404-932-4347, or , for Lane Company; or Alyson D'Ambrisi, Vice President of Morgan Stanley, +1-212-761-4649, or Alyson.D' Web site: http://www.lanecompany.com/

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