Berkshire Income Realty Executes Purchase and Sale Agreement to Acquire Georgia Multifamily Apartment Community.

BOSTON -- Berkshire Income Realty, Inc. (AMEX: BIR.PR.A), (AMEX: BIR_PA), (AMEX: BIRPRA), (AMEX: BIR-A), (AMEX: BIR.A), (AMEX: BIR/PRA) (the "Company") announced today that the Company has entered into an agreement to purchase 100% of the fee simple interest of The Standard at Lenox Park Apartments, a 375 unit multifamily apartment community located in the Buckhead section of Atlanta, Georgia. The seller is an unaffiliated third party. The purchase price of $47,100,000 is subject to normal operating pro rations and adjustments as provided for in the purchase and sale agreement.

The Company is a REIT whose objective is to acquire, operate, and rehabilitate multifamily apartment communities. The Company owns interests in twenty-five such multifamily apartment communities, of which eight are located in the Baltimore/Washington, D.C. metropolitan area, five are located in Virginia, four are located in Houston, Texas, three are located in Dallas, Texas, two are located in the Chicago, Illinois area and one is located in each of Austin, Texas, Charlotte, North Carolina, and the Tampa, Florida area.

This press release may contain "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, about the Company. These statements involve a number of risks and uncertainties that could materially affect future results. Among these risk factors are the ones listed in the Company's periodic reports filed with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2005 and Quarterly Report on Form 10-Q for the periods ended March 31, 2006, June 30, 2006 and September 30, 2006.