July 31, 2007
NDC Capital Partners Announces a Real Estate Co-Investment with Athena

NEW YORK--(MARKET WIRE) — July 31, 2007 -- NDC Capital Partners LLC ("NDC") today announced a co-investment with Athena Real Estate, LLC for the acquisition of Out O’ Space Self Storage, a family-owned, self storage facility which opened in 2002. The facility is well located in Pensacola just east of the intersection of Davis Highway, a major north/south highway and Fairfield Drive. The facility consists of 260 storage units and 49 outside spaces used to store RVs, boats, and vehicles.

About Athena Real Estate, LLC
 
Athena Real Estate, LLC (“Athena”) is a real estate investment firm focused on specialty collateral niches, including self storage and manufactured housing communities. The Company’s operating philosophy is that they are able to obtain premium returns by acquiring niche property types where focused management can provide a competitive advantage. The Company owns manufactured housing communities in Florida and North Carolina today and previously completed transactions with NDC in 2005 and 2006. Athena was founded in 2004 by Rick O’Brien, formerly an executive with a mid-cap public REIT and a large real estate financial services and investment company. Athena is seeking additional self storage and manufactured housing properties on the East Coast from Florida to Maine. For additional background, see www.athenarealestate.com.
 
About NDC Capital Partners
 
NDC is a private equity firm, investing capital in U.S. commercial real estate assets and related entities through joint venture structures with proven operating partners. NDC pursues a disciplined investment philosophy that focuses on value-oriented strategies, including property renovation, development, and repositioning. The foundation of NDC’s investment platform is an alignment of interest created through a co-investment partnership with knowledgeable operating partners. A proven track record of producing consistently high risk-adjusted returns supports this investment philosophy.
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