Press Releases

FOR IMMEDIATE RELEASE
December 6, 2001

NEW MULTI-FAMILY COMMUNITY TO OPEN IN SALISBURY: MILL POND VILLAGE IS NEWEST APARTMENT COMMUNITY TO OPEN IN 15 YEARS

SALISBURY, MD --- Shelter Properties, LLC, announces the Opening of Mill Pond Village, a 240-unit luxury apartment community in Salisbury, Maryland. Mill Pond Village is located on Naylor Mill Road at Business Route 13 at the center of an exciting, quickly growing area.

The Mill Pond Village community consists of one, two and three bedroom apartment homes, each featuring numerous amenities including washer and dryer; high speed Internet access; breakfast bar; and private patio or balcony. The community offers a fitness center; swimming pool with hot tub; clubhouse; tennis court; business center; resident activities program; and other resident services.

"Mill Pond Village will offer the ultimate in apartment living for individuals choosing to live around the Eastern Shore", according to Paula Buis, Managing Director of Shelter Properties. "Not only will it have widespread appeal because of its location and the community and apartment amenities, but the level of service provided to our residents will be second to none. Mill Pond Village will quickly become a sought after address in Salisbury, especially given the fact that it is the first multi-family apartment community to open in the area in nearly fifteen years."

Construction of Mill Pond Village will be complete in mid-2002. Applications are now being accepted and apartments will be available beginning in mid-December, 2001. Shelter Properties will manage the property for Mill Pond Village, LLC, whose principals are Jerry Sachs, Stanley Markofsky and Mark Ackerman.

Shelter Properties is a division of The Shelter Group, a national real estate development and property management company specializing in multi-family and senior housing communities. A leader in the industry, Shelter has developed or financed over $500 million in residential real estate projects and has acquired over 11,000 apartments in 58 residential communities. Shelter presently manages more than 22,000 units in virtually every setting and market throughout the U.S. Formed in 1982, The Shelter Group is headquartered in Baltimore, Maryland with regional offices in Dallas, TX, Philadelphia, PA, Atlanta, GA, and Memphis, TN.

For rental information, contact Kristen Bradshaw at 410-677-0695.

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