September 1, 2009

Houston, TX – An affiliate company to Pinpoint Commercial, LP, a full-service national real estate development partnership, has sold the Spring Cypress Commons shopping center, which is located at 21327 North Freeway (I-45) and Spring Cypress Road. The 9,162 square foot building was completed in 2008 and is 100% leased.

The buyer is a private Austin-based partnership that was represented by Deborah Castleberry of Realm Real Estate. Ryan West and Paula Foster of CB Richard Ellis represented Pinpoint Commercial.

About CB Richard Ellis

LCB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2008 revenue). The Company has approximately 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company three years in a row and a Fortune 100 fastest growing company two years in a row. Please visit our Web site at www.cbre.com.

About PinPoint Commercial

Located in Houston, TX, PinPoint Commercial is a leading national development partnership that focuses its energy on making clients successful. Because their Principals average over 23 years of real estate and development experience and have created over $163 Million in industrial, retail and medical assets, PinPoint is able to leverage its Knowledge, Process, and Relationships to ensure the best possible results for its clients. PinPoint is also developing three industrial parks comprising over 500 acres of land in the greater Houston area. Strategically located in key industrial markets in and around Houston, Texas, Satsuma Station Industrial Park serves Northwest Houston, Port Central Industrial Park is located very near the Port of Houston’s ship container terminals, and Hobby Business Center is a transportation hub, for industrial products shipped to areas south of Houston. This inventory of fully developed land allows PinPoint Commercial to offer quality build-to-suit and design/build improvements quickly and economically.

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