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Terranova’s Chwick Inks $23.5 Million Tampa Apartment Sale

MIAMI BEACH, FLORIDA – April 13, 2005 – Terranova Capital Markets Director Brett Chwick has completed the sale of Harbor Club Downs, a 272-unit waterfront apartment community built in 1984 and located in Palm Harbor, Florida, an affluent suburb of the Tampa/St. Petersburg metropolitan area. This deal represents the first of several multifamily deals Terranova has pending to close in April, 2005.