Contact: Mira Matic Performance PR P: (973) 335-4980 C: (973) 919-8405 E: mmatic@ppronline.com Jim Pierpoint Wachovia Capital Markets, LLC P: (704) 374-6512 Shelby E. L. Pruett Equity Capital Management, LLC P: (312) 827 2270

FOR IMMEDIATE RELEASE

NEWMARK / THE NORSEMAN GROUP NEWMARK CAPITAL GROUP AND THE NORSEMAN GROUP BROKER $85+ MILLION PORTFOLIO OF WALGREENS LEASED PROPERTIES IN MIDWEST, SOUTHWEST

New York (July 2005) - Newmark Capital Group has arranged the sale of 16 Walgreens leased properties in eight states in the Midwest and Southwest for in excess of $85 million in cooperation with The Norseman Group. The seller consisted of entities owned or controlled by Equity Capital Management, L.L.C. ('ECM') of Chicago. The properties were acquired by Wachovia, an active investor in net leased real estate and a leader in commercial real estate finance, according to Kenneth L. Zakin, senior managing director of Newmark Capital Group based in New York City. Zakin and Newmark Associate Jason Behfarin represented the buyer in the transaction. Scott Mannes and Joseph Yiu of The Norseman Group of Parsippany, N.J., represented the seller. Those involved in the transaction say that the purchase may have been the largest portfolio sale of Walgreens leased properties so far this year. The portfolio was comprised of sixteen net leased properties. All the properties were leased on a long-term basis to Walgreens and consisted of stores in Georgia, Illinois, Iowa, five locations in Kansas, Michigan, three stores in Missouri, three stores in Ohio and one location in Texas. Newmark Capital Group's Zakin explained that the sale was a privately arranged transaction that began in February. 'The properties were not on the market, but we are actively sourcing transactions to service our net lease and 1031 exchange clients,' Zakin said. He noted that Newmark's working relationship with The Norseman Group enabled the transaction to be consummated. 'We continue to expand our role in representing buyers and sellers of net leased properties, particularly in the 1031 exchange market and are pleased to have been able to arrange this very significant transaction,' he said. The Norseman Group Managing Director Mannes commented on the sale by saying, 'We were happy to assist a valued client and it was a good deal for both the buyer and the seller.' Chicago-based Equity Capital Management, L.L.C. ('ECM') is a principal-oriented investment firm that seeks opportunities in the commercial net lease real estate markets. ECM's investment funds seek to provide institutional and individual investors with market competitive returns by investing in institutional grade commercial real estate, net leased primarily to single tenants with high or investment grade credit ratings that carry yield premiums and/or the potential for appreciation as a result of their complexity, size, or lack of institutional focus on an un-aggregated basis. Equity Capital Management is currently seeking net lease investment opportunities for its institutional investment vehicle; ECM DIVERSIFIED INCOME & GROWTH FUND, a fully-discretionary equity fund. The Norseman Group was formed in 2003 to bring innovative credit-based financing solutions to owners and acquirers of single tenant commercial properties. Using proven structured finance techniques to isolate excess cash flows generated by credit tenant leases, Norseman is able to provide commercial property owners and acquirers with loan proceeds that capture the full value of the credit rating of their tenant, and in many cases fully monetize excess rents. In addition to creative secondary financing solutions, the Firm provides advisory services covering first mortgage sourcing, ownership re-structuring, property offering debt packaging, and 1031 exchange market strategies. The Firm has served such clients as CBRE Global Net Lease Partners, Rockwood Capital, NorthStar Realty Trust, Staubach Capital Partners and American Financial Realty Trust. For further information, please visit the firm's website at www.norsemangroup.com. Newmark is one of the largest independent real estate service providers based in the United States. It provides comprehensive real estate services to many of the world"s most prominent corporations, property owners, investors and developers. Headquartered in Manhattan, and with offices throughout the world employing nearly 800 people, Newmark has created a global platform from which to serve its growing list of corporate clients. Annually, the firm completes nearly 25 million square feet of transactions, valued at over $9.5 billion in total consideration. Additionally, Newmark serves as leasing agent and/or property manager for 50 million square feet of commercial space nationally. For further information, please visit the firm's website at www.newmarkre.com.