For immediate release
For more information, contact:
Kathy P. Hansen, President
Tel: (972) 473-2475
Email: khansen@spencercommercial.com

Spencer Commercial Completes 11-Year Office Lease for Consolidated American Services

--Downtown Dallas Lease Valued in Excess of $8 Million--

DALLAS, Texas – February 21, 2008 – Spencer Commercial Real Estate LLC (SCRE) recently finalized an 11-year lease of 62,402 square feet for Consolidated American Services, Inc. (CAS), the nation’s largest, independently owned real estate management company. The lease is valued in excess of $8 million, and allows CAS to expand its U.S. headquarters to floors 15 and 16 in Renaissance Tower, a class-A office building in the heart of Dallas’ central business district. The company will now have offices throughout the U.S., with its headquarters centrally located in its newly renovated space in Dallas.

Kathy Hansen, president of SCRE, and senior associate Chaz Walker spent one year developing real estate strategies for CAS, of which the headquarters relocation was one step in the execution of a comprehensive plan.

"The move was necessary to meet CAS’ strong growth pace,"said Hansen "Our goal was to align an effective real estate decision with the company’s core business objectives.  Together, we addressed acquisition integration, headcount projections, effective growth strategies and local real estate market conditions. After months of meeting with CAS and Riverstone officers, their long-range vision was set into motion. One element of the recommendation was to remain in downtown Dallas."

SCRE surveyed the downtown Dallas market for the right solution, narrowed down the building choices, sent out RFP's, toured buildings, and decided on Renaissance Tower due to many factors including quality, economics and access to the DART Light Rail Line, which more than 40% of CAS/Riverstone employees currently use.

Currently operating in 42 states, CAS works in partnership with an enviable blue chip list of institutional investors on a diverse range of residential property portfolios. With 4,300 employees, the company now has $19 billion of assets under management, comprising 150,000 units and 135 million square feet, including its signature brand, Riverstone Residential. CAS is currently ranked within the top five real estate service providers in the U.S.