BlueStone Real Estate Capital Names Director to Advisory Board

Business Wire, Dec 12, 2007

Former Philadelphia City Controller Jonathan Saidel to Head Advisory Board

PHILADELPHIA -- BlueStone Real Estate Capital, a Philadelphia-based real estate investment bank, is pleased to announce that former Philadelphia City Controller Jonathan Saidel has been named Director of firm's Advisory Board. In this role, Mr. Saidel will assist BlueStone's executive management team in expanding and strengthening the Company's leadership in commercial real estate investment banking.

"BlueStone's advisory board was formed to help guide and strengthen the firm's relationships and opportunities both locally and nationally," said Matthew McManus, Chairman of BlueStone Real Estate Capital. "Jonathan has a tremendous track record of professional relationships and accomplishments and we are excited to have him as an esteemed member of our Board of Advisors."

BlueStone Real Estate Capital secures innovative debt, mezzanine, equity and sponsor equity financing for the nation's top-tier investors, operators, owners and developers. To date, the firm has raised over $4 billion in equity and debt capital for sophisticated real estate owners and developers in the top 20 U.S. markets.

Recently, BlueStone was awarded the NJPA Real Estate Journal's "Deal of the Year" for securing $70,800,000 in construction and permanent financing for The Edge at Avenue North, the largest single-structure, state of the art student housing building in Pennsylvania. The firm was also a recipient of the 2007 Philadelphia 100 award, which tracks the fastest growing, privately held companies in the Greater Philadelphia region.

In addition to his responsibilities as Director of BlueStone's Advisory Board, Mr. Saidel has had a distinguished career in public service, the law and accounting. He served as Philadelphia City Controller for sixteen years, winning re-election most recently in 2001 with 87.5 percent of the vote. As Controller, he won local and national plaudits for reforming and professionalizing the Controller's office, his dedication to fiscal discipline and proposing innovative ideas to grow Philadelphia. His 1999 book "Philadelphia: A New Urban Direction" continues to be used as a textbook in college level urban studies courses. For more information, please contact Jonathan Saidel at 215-567-3500 or jsaidel@cprlaw.com

About BlueStone Real Estate Capital

BlueStone Real Estate Capital is a Philadelphia-based commercial real estate investment banking firm that secures innovative debt, mezzanine, equity and sponsor equity financing for the nation's top-tier investors, operators, owners and developers. Leveraging its up to the minute market knowledge, credibility and relationships with highly regarded institutional financing sources, BlueStone specializes in closing complex deals for sophisticated clients.

Recently, BlueStone was awarded the NJPA Real Estate Journal's "Deal of the Year" for securing $70,800,000 in construction and permanent financing for The Edge at Avenue North, the largest single-structure, state of the art student housing building in Pennsylvania. For more information please visit www.bluestonecap.com