If You Build It They Will Come Lofts at Lakeview Begins PreLeasing



May 12, 2005 -- Lofts at Lakeview, the Triangle's upscale living alternative for those seeking the unique and urban lifestyle, announced today that it is pre-leasing for an August opening.

The property, which broke ground in summer 2003, has already garnered significant interest, especially from young professionals who live and work in and around RTP and Duke Medical Center in Durham. The first residents of Lofts at Lakeview are scheduled to move in on August 1, however, leaseholders are optimistic that they could move in earlier - at no cost - if the property opens ahead of schedule this summer.

"Individuals who have already signed pre-leases appear to have one thing in common: they are eager to be on the forefront of the newest trend in Triangle living-a combination of flexibility and modern sophistication like that which is found within the walls of Lofts at Lakeview," said Samantha Barker, Property Manager of Lofts at Lakeview. "Having this number of potential residents interested in Lofts at Lakeview before setting foot on the property is absolutely thrilling."

"While the Triangle is home to several sophisticated hotels, restaurants, and condominiums, the new Lakeview area of Durham lacked an apartment residence with that same level of luxury and service. The Lofts at Lakeview residence is unique in that it allows residents to embrace living well without the traditional commitment of a long-term relationship," said John H. Nash, President of The Hanover Company, which developed and operates Lofts at Lakeview.

With premium finishes and modern luxuries, Lofts at Lakeview is raising the bar for apartment living in the Triangle. The property is built with an intense attention to detail - each of the 352 units has travertine backsplashes, black-on-black Maytag appliances, maple spice cabinetry with wine racks, slate or hardwood flooring, modern track lighting, expansive walk-in closets, ceramic tile bathtubs and showers with glass doors.

Lofts at Lakeview residents will enjoy the luxuries typically found at a five star resort: two resort style pools, aqua lounge and fire pits for outdoor socializing, 24/7 fitness center, Wi-Fi internet caf with plasma televisions, around-the-clock coffee bar, private movie screening room with stadium seating and surround sound, same level controlled access parking, and convenient trash chutes on every floor. The property is also one of the first in the Triangle to offer in-house dining services to its residents.

A full time social director will plan and host gourmet cooking classes, wine tastings, and Saturday brunches to their residents and visitors. An on-site personal trainer will be regularly available to residents.

Another factor that is attracting future residents is the possibility of a free rent if the property opens early. Construction of the property is moving along well - if the property opens before the scheduled August 1 date, leaseholders can move in immediately for no cost.

Lofts at Lakeview is built and managed by The Hanover Company, the largest privately held real estate developer in the country. Hanover develops multi-family and mixed-use projects in major cities throughout the U.S. including Los Angeles, Miami, Denver and Houston. The company has developed more than 25,000 units across the country totaling in excess of $2 billion in project costs.

For more information on Lofts at Lakeview, visit www.LoftsAtLakeview.com, call (919) 381-8189, or visit 2616 Erwin Road.

About Lofts at Lakeview:
In the heart of Durham's Lakeview area, Lofts at Lakeview redefines luxury urban loft apartment living, boasting 352 luxury apartments with tree-lined views, custom color and design elements, and opulent dcor. Residents of Lofts at Lakeview enjoy an unsurpassed level of services and amenities including: a private screening room, two resort-style pools and outdoor fireplace, premier fitness club, controlled access home-level parking, and ongoing social activities. Pre-leasing now for August 2005, Lofts at Lakeview is located at 2616 Erwin Road. More information is available at www.loftsatlakeview.com.

About The Hanover Company:
The Hanover Company currently stands among the most active private real estate companies in the United States, specializing in the development of luxury hi-rise, mid-rise and mixed-use residential properties.





If You Build It They Will Come Lofts at Lakeview Begins PreLeasing