JPI Sells Luxury Apartments In Suburban Denver

(DALLAS, TX) September 13, 2000 -- JPI, one of the nation's top apartment builders, has sold Jefferson at Town Centre in Broomfield, Colorado. The closing occurred on July 31.

"The quality and amenities of the product combined with a great location close to many high tech jobs makes this a great investment!," states Timothy M. McEntee, Divisional President and Managing Partner of the Central Division.

Jefferson at Town Centre sits on 14.5 acres in the Denver suburb of Broomfield. The average unit is 941 square feet. The units are designed with nine-foot ceilings, accented by crown molding, six-panel interior doors, European-style cabinetry, island kitchens, and designer countertops. Additional features of the community include a resort-style pool with Jacuzzi, a state-of-the-art fitness center, an executive business center, and a spacious clubhouse with full-featured kitchen.

JPI is one of the nation's largest multifamily developers. In Denver alone, JPI has over 1,800 apartment homes in various stages of development or construction. JPI's Denver-area properties currently include JPI's Colorado properties Jefferson Estates at Lowry and Jefferson Park at Lowry (Denver), Jefferson at Meadow Hills (Aurora), and Jefferson at Meridian (Douglas County).

JPI provides acquisition, development, construction, property management, asset management, leasing, and disposition services for its multifamily and student housing communities nationwide. JPI is currently developing apartment communities in Arizona, California, Colorado, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Missouri, Nevada, New Hampshire, New York, North Carolina, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington and West Virginia. The Dallas-based company is also pursuing new developments nationwide and currently provides property management and leasing services for more than 24,000 apartment homes throughout America.

JPI maintains a significant investment partnership with GE Capital to build multifamily communities across the country. Last year, JPI broke ground on more than 9,000 new apartment homes and was active in the acquisition of various apartment communities. For the past three years, Builder magazine has named JPI one of the top three apartment builders in the nation.

Media Contact: Jackie Jones (972) 556-6988.