The Siegel Group Continues Aggressive Expansion in 2008; Acquires 228 Unit Apartment Complex for $14.5 Million

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The Siegel Group Nevada, Inc., a Commercial Real Estate & Business Development Company, today announced that it had completed its acquisition of the Mark Twain Apartments; a 228 unit apartment complex situated on approximately 4.30 acres of land in Las Vegas, Nevada. The purchase price was $14.5 million. SASCO Properties, a Division of The Siegel Group Nevada, Inc., will assume operational control and immediately begin a substantial renovation to correct years of deferred maintenance issues while converting the property to its Flexible-Stay program. The property will be renamed Siegel Suites Twain II and operate under the Siegel Suites brand which provides residential accommodations to tenants seeking short and long-term residences that provide flexible terms as well as a host of amenities and services without the commitment of a long-term lease agreement. With plans to become the largest provider of multi-family accommodations in Las Vegas, The Siegel Group is aggressively searching for acquisitions to add to its growing Siegel Suites portfolio.

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applies perfectly to this property which features large two-bedroom units as well as a unique one-bedroom, one-and-a-half baths which is a rarity in the multi-residential market that we believe our tenants will appreciate.

    Judith Perez, Executive Vice-President of SASCO Properties, said: "This newest acquisition is centrally located between two of our properties and these economies of scale will reduce our operational costs while further strengthening our presence in the area. Siegel Suites Twain II has a terrific unit-mix and our slogan, "Size Matters. Our Suites Are Bigger" applies perfectly to this property which features large two-bedroom units as well as a unique one-bedroom, one-and-a-half baths which is a rarity in the multi-residential market that we believe our tenants will appreciate."

About The Siegel Group Nevada, Inc. / SASCO Properties

The Siegel Group, a Commercial Real Estate & Business Development Company with offices located in Las Vegas, Nevada and Studio City, California, is a full-service real estate investment and development company founded by Stephen Siegel with expertise in acquisitions, financing and development. The Company's Real Estate Division manages the firms' acquisition, disposition, and development of commercial real estate; a portfolio comprised of multi-residential apartment complexes, commercial shopping centers, office buildings, and hotel-casinos. SASCO Properties, the Property Management Division of The Siegel Group Nevada, Inc., oversees the operation, leasing, maintenance, renovation, and reposition of the company's commercial portfolio. This arrangement allows operations to be streamlined, ensuring that the full potential of each asset is maximized. For more information on The Siegel Group and its affiliates, visit the Company's website at http://www.siegelcompanies.com.

About Siegel Suites

Siegel Suites, a registered trademark of The Siegel Group Nevada, Inc., was formed by Stephen Siegel to manage and brand his multi-residential portfolio. With a portfolio of multi-family residences, Siegel Suites is able to provide residential accommodations with a host of amenities to tenants seeking short and long-term living arrangements with a number of properties offering fully furnished units and complimentary utilities. With thousand of units throughout Nevada, Siegel Suites is quickly becoming the largest provider of multi-family accommodations in Las Vegas.

To obtain further information regarding this release, please contact Michael Crandall via email at mcrandall@siegelcompanies.com or by phone at (310) 597-9221.

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Michael Crandall
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