JOSS Realty Partners Announces Washington D.C. Office Building Acquisition and Redevelopment Plans; Company Forms Joint Venture with RD Management.

NEW YORK -- JOSS Realty Partners, LLC, a real estate investment firm that targets commercial real estate investment opportunities in the $20-50 million range, today announced that it has acquired 1129 20th Street in Washington D.C. The property is a 127,500 square foot Class B office building currently 87% leased. The Company plans to redevelop and reposition the office building to Class A status.

As part of the Company's redevelopment plans, JOSS Realty Partners has formed a joint venture with New York based construction and real estate investment firm RD Management, who will act as a partner and construction advisor to the investment. JOSS Realty Partners intends to add two additional floors to the building to maximize the allowable square footage to approximately 160,000 square feet. The Company also plans to upgrade the building's facade and interior. Lehman Brothers provided the financing.

"With its prime downtown location, we see significant potential in renovating the building, adding additional rentable area, and capitalizing on its proposed Class A status," said Steve Klein, partner of JOSS Realty Partners. "Washington D.C. is currently one of the strongest office markets in the country, and we will continue to focus on targeting properties in similar locations, where land is scarce and employment growth is positive."

The 1129 20th Street building represents JOSS Realty Partner's third acquisition in Washington D.C. since the Company's inception in July 2005. In the heart of downtown Washington D.C., 1129 20th Street is located in the "Golden Triangle" within the Central Business District. The building's prominent tenants include ALEC (The American Legislative Exchange Council), NASFAA (National Association of Student Financial Aid Administrators), Chicago Title, Nusta Spa, Chemonics and Mitchell & Titus LLP.

ABOUT JOSS REALTY PARTNERS, LLC

Based in New York, JOSS Realty Partners LLC is a private real estate and investment management firm that targets commercial real estate properties and development opportunities in the $20 million - 50 million range. The firm seeks investment opportunities in major U.S. metropolitan markets including New York, Washington D.C., Philadelphia and Southeast Florida. JOSS Realty Partners was founded by Steve Klein and Larry Botel, with 39 years of combined commercial real estate expertise and an extensive track record of successful real estate investments in the U.S. metropolitan markets. Together, they own eleven office and residential properties and have purchased more than two million square feet of real estate. The investments are financed by a group of private investors led by Mr. Klein and Mr. Botel. Please contact JOSS Realty Partners at 212-672-2026.