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Mark-Taylor Residential Awarded Management of Pietra in Phoenix

Phoenix, Ariz. (October 11, 2006) – Mark-Taylor Residential has been awarded the management contract for Pietra, a garden-style apartment community located in north Phoenix. Originally planned as condominiums by owner Wood Partners, the pent-up demand in the Phoenix area for quality apartments guided the change from condominium sales to apartment leasing. Wood Partners is a national multi-family developer and Scottsdale-based Mark-Taylor Residential specializes in managing apartment properties for third party owners.

“The addition of Pietra to our business portfolio is very rewarding. Our team of highly trained leasing and management staff are looking forward to delivering the Mark-Taylor level of service at Pietra,” said Dale Phillips, President of Mark-Taylor Residential.

“Mark-Taylor Residential has a stellar reputation for being a top-rated management company. Wood Partners appreciates Mark-Taylor’s emphasis on quality business practices and leasing expertise” said David Kubin, director of Wood Partners.

One of only a few new-build apartment communities in the Valley, Piétra offers an unprecedented rental opportunity for residents to enjoy the many luxuries, amenities and upgrades of condominium living. Each of Piétra’s 237 garden-style apartments comes standard with an array of upgrades, including granite countertops and stainless steel appliances. Wood flooring, built-in décor shelving and work spaces, 10-foot ceilings, detached garages and mountain views are also available in select residences. Apartment homes range in size from approximately 600 square foot to over 1,400 square feet. Pricing will start at XXX.

The apartment community is located at 19625 north Cave Creek Road, just south of the Loop 101 and just minutes from Desert Ridge Marketplace and Kierland Commons, Piétra will also feature the finest in first-class amenities. Residents will enjoy a state-of-the-art fitness facility with adjoining Kid’s Zone, wireless Cyber Cafe, billiards area, high-tech media room, temperature-controlled pool, heated spa and outdoor fire pit.

Mark-Taylor Residential is one of the Arizona’s largest developers and managers of apartment communities. The majority of the company’s business is managing apartment communities for third party owners. The award-winning company currently owns and/or manages over 5000 units in the Valley of the Sun. More information is available at www.mark-taylor.com.