Warren Buffett Cuts Ribbon on Strategic Capital Partners’ East Village at Avondale Meadows Apartments

Investor and co-founders of Purpose Built Communities attend grand opening celebration for Phase I of the $150 million development project Avondale Meadows in Indianapolis

Indianapolis, Indiana, October 4, 2011—Financier Warren Buffett visited Indianapolis on Wed., Sept. 28 to celebrate the opening of Phase One of the East Village at Avondale Meadows apartment complex.

Buffett joined his co-founders of Purpose Built Communities (PBC) – Tom Cousins, who holistically redeveloped East Lake in Atlanta, which has become the national model for urban redevelopment, and retired hedge fund manager Julian Robertson – in the ribbon-cutting ceremony. Strategic Capital Partners,
LLC (SCP) partnered with PBC as a network member in 2010.

East Village at Avondale is a joint development between SCP, PBC, The Sterling Group, Meadows
Community Foundation, and the City of Indianapolis. The partnership uses PBC’s approach to break the cycle of generational poverty in urban areas by ensuring that housing, schools, human services, health care, recreation and all other ingredients necessary for a healthy community are incorporated in the Avondale
Meadows redevelopment.

“Avondale Meadows will be an attractive, safe, environmentally-friendly, 100-acre neighborhood that offers a mix of affordable and market-rate rental and owner-occupied homes,” said Gene Zink, Chairman and CEO of SCP. Phase One includes 248 apartment units, 70 percent of which will be reserved for low-to-moderate income residents, while the rest will be offered at market rates. “So far, we have taken nearly 2,800 calls from people interested in living at East Village, and 56 have already signed leases,” said Zink.

Future phases will include 250 townhomes and single family homes, 600 mixed-income apartments, a 70,000 square-foot health and wellness center, a full-service grocery store, a park, a neighborhood garden, and recreational walking, running and biking paths. In addition, the Challenge Foundation Academy and the Charles A. Tindley Accelerated School are located in the Meadows area, and the Excel Center, a high
school for adults, will serve 300 students who are interested in general studies, medical and child
development careers. SCP expects to break ground in November 2011 on the Health and Wellness Center, and on a 150-unit senior living project in 2012.

“I co-founded Purpose Built Communities, and invest in developments like Avondale Meadows, because it’s got the right mission, it’s got a record of success and it’s got the right leadership,” said Buffett. “What better can you do with money than to help thousands of people change their lives in a very, very positive way?”