Brookwood Financial Partners, L.P. Announces the Sale of New World Tower in Miami, Florida.

BEVERLY, Mass. -- Brookwood Financial Partners, L.P. ("Brookwood") announced today that its affiliate, Brookwood Biscayne Tower Investors, LLC, has sold New World Tower for $60,400,000 to 100 NWT, LLC, an affiliate of Panther Real Estate Partners and Westbrook Partners. Brookwood acquired the property in December of 2003 from NWT Partners, Ltd. for $43,500,000.

New World Tower is a 30-story office building totaling approximately 270,000 square feet of office and telecommunication space with an attached 12-story, 396-car parking garage. The property is located on Biscayne Boulevard in Miami, Florida, directly opposite Bayfront Park.

"We purchased the property due to its superb location, unique telecommunications infrastructure and very attractive per square foot price," stated Eve M. Trkla, Brookwood's Chief Operating Officer. The property offers unobstructed views of Biscayne Bay, Miami Beach and Downtown Miami. In addition, the building is within walking distance of Federal and County courthouses, the Miami Heat arena and numerous retail amenities. "In December of 2003, when we purchased New World Tower, the condominium craze was running at full throttle, overshadowing office development. Given these market fundamentals we believed that supply would not keep pace with demand and that the value of existing, well-located office buildings in downtown Miami would move up quickly," Trkla continued. Given the strength of the Downtown Miami office market, Brookwood deemed that now was an optimal time to sell the property. Chris Lee of the Miami office of CB Richard Ellis represented Brookwood in the transaction.

The sale of New World Tower is Brookwood's 11th disposition in South Florida. Brookwood's total South Florida portfolio consisted of 12 properties totaling 2.0 million square feet of office, retail and residential real estate. Brookwood's last South Florida holding, 9350 Financial Centre, which is located in Miami, is currently under contract to be sold.

About Brookwood - Brookwood is a Massachusetts-based private equity firm that acquires real estate and invests in private companies. Since 1993, Brookwood has acquired 45 properties totaling approximately 7.0 million square feet of office, retail and research & development space as well as 143 hotel rooms, 138 condominium units and 572 apartments units. Brookwood has acquired real estate assets throughout the United States including Arizona, California, Colorado, Florida, Georgia, Maryland, Massachusetts, New Jersey, North Carolina, Texas, and Virginia. In addition, Brookwood has invested in eight private companies in the wireless telecommunications, restaurant, software and outsourcing industries. Brookwood has invested over $325 million in equity to acquire assets with a realized and unrealized value of approximately $1 billion.