Strategic Capital Partners, Wilton Partners Announce Condominium Project in Biloxi, MS

Avalon will meet demand in area rebuilding from Hurricane Katrina

Biloxi, Mississippi, May 23, 2007—Strategic Capital Partners (SCP) through its fund, Strategic Partners Value Enhancement Fund (SPVEF), and Wilton Partners announce the acquisition and start of initial marketing for Avalon, a 198-unit condo/hotel project in Biloxi, MS. The property was initially acquired in 2006 and was completely gutted; the overall budget is approximately $37 million. The property, with its own private beach, is located on Beach Road and is diagonally across the street from the Beau Rivage Hotel and Casino.

The 10-story project will feature a full-service restaurant, an infinity-edge pool, and lobby and rooftop lounges. All interiors will be fully appointed with plasma televisions, granite workstations, mahogany furnishings and fully-equipped kitchens with mahogany cabinets and galaxy black granite countertops. Avalon will be within walking distance of many of the casinos, including the soon-to-be-opened Hard Rock. Unit prices will start at $199,000.

The property is located in the GO Zone, which provides significant tax incentives for individuals and businesses in the area by offering significant tax deductions. For qualified residential rental properties such as Avalon, this includes an additional deduction of a 50% write-off of the property’s depreciable basis, excluding land value during the year placed in service.

“Avalon’s unique location and visibility make this a wise investment for SCP and Wilton Partners,” said Laurie Smith, Senior Vice President of Acquisitions for Strategic Capital Partners. “Since Biloxi is home to the third-largest gaming industry in the United States and lost approximately 6,000 hotel rooms as a result of Hurricane Katrina, Avalon will help satisfy pent-up demand for hotel space.” To learn more about The Avalon at Biloxi and GO Zone tax incentives, visit www.TheAvalonBiloxi.com or call 1.888.806.9604.

Wilton Partners is a Los Angeles-based developer, owner and manager with more than 20 years experience in ground-up shopping center development, multi-family developments and repositioning of significant real estate assets in 22 states, including public/private partnerships. Developments have included high-density residential, single-family residential, single-tenant retail, mall retail, artists’ lofts and train stations.

For more information on other RCMG projects, call 925.355.3290 or visit www.rcmginc.com.
Strategic Capital Partners, LLC (SCP) is a privately-held, real estate investment management firm that employs a value-added investment strategy of acquiring commercial and multi-family properties via joint ventures with experienced real estate operators. SCP is focused on properties across the United States that can be repositioned, re-leased and/or redeveloped. The company is headquartered in Chicago with offices in Indianapolis and New York. Learn more about SCP at www.StrategicCapitalPartners.net.