Archstone Community Honored with MFE Award.

Archstone Gateway Earns '2009 Multifamily Executive Merit Project of the Year: Low-Rise'

DENVER -- Archstone, a leader in apartment investment and operations, announced today that its Archstone Gateway apartment community in Orange and Anaheim, Calif., was honored with the "2009 Multifamily Executive Merit Project of the Year: Low-Rise" award.

Archstone earned the distinction for Archstone Gateway's architectural innovation, floor plan efficiency, suitability to its target market, interior design, landscaping and the company's creative use of materials. The award was presented on Tuesday, October 13, at Multifamily Executive magazine's 2009 MFE Awards ceremony at the Bellagio in Las Vegas.

"We're pleased to receive this honor from Multifamily Executive," said Jeffrey Sofferman, Archstone's Senior Vice President of Development. "Archstone put every bit of the remarkable innovation and creativity it's known for into Archstone Gateway, and the result was an award-winning community."

As the community resides in both Orange and Anaheim, Calif., the award also highlights Archstone's ability to navigate through a complex coordination process involving design and entitlements to meet the demands of two municipalities. The general contractor on the project, Archstone Builders, also played a key role in the process.

As one of Archstone's newest communities, Archstone Gateway offers resort-style living in the heart of the Platinum Triangle. In addition to the three pools with luxurious cabanas, fire pits and outdoor media lounge with bar, the community features several uniquely themed courtyards with modern water features and fountains.

All of the apartments also have pre-wired outlets for high-speed Internet and HD television for 'cable-free' viewing. For the busy pet owners, Archstone Gateway also offers two dedicated dog parks, fully equipped with special sod and doggie drinking fountains.

The Orange County apartments are in an ideal location that is within walking distance of many key Orange County attractions, including the Angel's Baseball Stadium, the Honda Center Arena and Amtrak/Metrolink train station.

About Archstone

Archstone is a recognized leader in apartment investment and operations. The company's portfolio is concentrated in many of the most desirable neighborhoods in and around Washington, D.C., Los Angeles, San Diego, San Francisco, New York, Seattle and Boston. Archstone strives to provide great apartments and great service to its customers--backed by service guarantees. As of June 30, 2009, the company owned or had an ownership position in 446 communities located in the United States and Europe, representing 84,541 units, including units under construction. Utilizing this tremendous amount of expertise and institutional knowledge, Archstone now also offers comprehensive advisory services to owners and lenders who want to maximize the value of their assets through Archstone Real Estate Advisory Services (www.archstoneadvisoryservices.com).