Property First.com and CB Richard Ellis Announce New Agreement.

NAA/NSC member PropertyFirst.com and NAA member CB Richard Ellis have executed a new agreement under which all CB Richard Ellis brokers based in the United States have become members of PropertyFirst.com. Under the new agreement, CB Richard Ellis brokers will use PropertyFirst's for-sale and for-lease systems to market their properties.

As a part of PropertyFirst membership, brokers are able to utilize the company's lead-generation tools, which identify and connect sellers, representatives with buyers interested in similar properties, as well as connect owners and residents. Brokers can also create online, customized properties marketing packages with unlimited attachments, such as demographic information or Argus files.

Additionally, PropertyFirst's for-sale marketplace allows for controlled-access marketing; a broker can choose to make a listing public, private or confidential, with password-protected access. As a result of the new agreement between PropertyFirst and CB Richard Ellis, it is expected that all CB Richard Ellis properties for sale and lease in the United States will be listed in the PropertyFirst.com marketplace.

Newman and Associates Inc., a wholly owned subsidiary of NAA member GMAC Commercial Mortgage, has announced the formation of the Loan Sales and Trading Group, to focus primarily on the sale of commercial loan portfolios and participation in mortgage loans. The group is headed by Stuart M. Salinas and will be operated out of Newman's Sales and Trading Department, which is headed by Tim Zarlengo.

Newman's Loan Sales and Trading Group will represent a diverse group of institutional and corporate clients, including insurance companies, banks, thrifts, REITS and conduits in the sale of performing, sub-performing and non-performing commercial and multifamily mortgage loans.

NAA/NSC member Call/ Source Inc. has been retained by Classified Ventures' Apartments.com, an NAA/NSC member, to independently supply, track and report all telephone lead traffic generated by visitors to Apartments.com's millions of online apartment listings. The agreement with CallSource provides advertisers with significant added value. As the largest supplier of 1-800 numbers to the industry, CallSource will afford Apartments.com the critical ability to scale with advertisers a truly qualified performance report, which encapsulates toll-free lead tracking through a completely independent source.

NAA member Simpson Housing Solutions, LLC (SHS) announced the launch of simplifi[SM]--a financing program designed to provide developers of section 42 credit communities with a one-source process for complete equity and debt financing. Simplifi[SM] provides equity, construction and permanent debt financing all at the same time, giving developers the opportunity to arrange a complete financing package right from the beginning.

In addition to SHS, the partners offering the simplifi[SM] program include Louisville, Ky. based PNC Bank and Continental Wingate Capital Corp., headquartered in Needham, Mass. PNC Bank will provide construction and bridge financing, while CWC, a Fannie Mae DUS lender, will provide permanent financing which is rate-locked by forward commitments. SHS will provider tax-credit equity for the participating developers' projects. According to Michael A. Costa, President of SHS, there are no caps on the new program, which he projected could result in up to $200 million in new financing over the next two years. He also noted that simplifi[SM] was created to streamline the financing process while also reducing the costs for the developers.

Archstone Communities and Arlington, Va.-based Charles E. Smith Residential Realty have agreed to merge, creating a new combined company that will own more than 87,400 apartment units, including approximately 5,900 under construction. The total market value of the transaction is $3.6 billion. The new entity will have a market capitalization of $9.3 billion and will operate under the name Archstone-Smith Trust. The Archstone brand name will be used for all of the company's apartment communities except high rises. The transaction is expected to close in September 2001, subject to the approval of the shareholders of both companies, the partners of Charles E. Smith's operating partnership and other customary conditions. The combined company will operate from corporate headquarters in Denver, Colo., and have divisional offices in Arlington, Va., Irvine, Calif. and Atlanta. Upon completion of the merger, Robert H. Smith, Robert P. Kogod, and Ernest A. Gerardi, Jr. will join Archstone-Smith's board of trustees. Smith and Kogod also will serve on Archstone-Smith's executive committee. R. Scott Sellers will serve as Chairman and CEO of the combined

company, and Smith will serve as Chairman of the Charles E. Smith division. Richard A. Banks, J. Lindsay Freedman and W. D. "Denny" Minami will serve as Presidents of the combined company's western, eastern and Charles E. Smith divisions respectively.

NAA member Homestore.com, Inc. has completed its acquisition of Move.com from NAA member Cendant Corp. The integration of Move.com's Rent. Net, an NAA/NSC member, with Homestore.com's apartment and rental provider, SpringStreet.com[TM], will strengthen Homestore.com's apartment and rental presence, allowing them to attract an increasing number of prospective residents shopping for apartments nationwide. With Move.com's highly visible Web site, it is anticipated that consumer traffic to Homestore.com's[TM] family of Web sites will increase considerably. In addition, the acquisition gives Homestore.com the support it needs to further develop the best technological and e-solutions possible.

MonsterDaata Inc. has teamed up with Builder Homesite Inc. to provide its new home source service with MonsterDaata's leading community information. Under this agreement MonsterDaata will provide its comprehensive community information on neighborhoods to Builder Homesite's industry leading database of new homes. MonsterDaata's digital content will assist in the consortium's thousands of new home purchases with its library of over 3.5 billion records throughout the United States, providing related information on demographics, cost of living, quality of life, crime and consumer behavior.

SSR Realty Advisors and Jeffrey B. Allen announced the formation of SSR Development Partners, LLC, a real estate development company that will focus on development and major rehabilitation projects in urban in-fill locations. Allen will be President and CEO of the new company, which will be a subsidiary of SSR Realty, dedicated to serving the needs of SSR Realty's clients. Allen, who has worked in the real estate industry since 1974, has extensive development experience in all property types.