Henry S. Miller Investments 

Purchases 662 Unit Jefferson at Montfort Apartments

DALLAS, TX -August 12, 2003--Vance C. Miller, Chairman and CEO of Henry S. Miller Companies, announced the purchase of the 662 unit apartment complex at Jefferson at Montfort for an estimated $50 million. The Purchaser is a limited partnership formed by Henry S. Miller Investment Co. This 587,000 square foot upscale apartment complex was built in 1994 by JPI, a prominent Dallas apartment developer and was acquired by the Seller, a pension fund, in 1998. 

The focus of Henry S. Miller Investments has increased, Mr. Miller explains that this is the best time to purchase multi family projects since the 1986 Tax Reform Shelter. 

“While the present multi-family market is extremely competitive, today’s lower interest rates makes it desirable to purchase well located, prestigious properties at this time, ” explains Mr. Miller. 

Steve Harris, President of Henry S. Miller Investment Co., was assisted in the acquisition by Terry Gwin, Managing Director of HSM Equity Partners, and Jim Brownlow, President of the HSM Investment Banking Group, which provided first mortgage financing for the transaction in the amount of $40 million.

Henry S. Miller Companies, founded in 1914, is Texas’ largest independent commercial real estate firm with office in Dallas, Ft. Worth, Houston, San Antonio, and Austin and a member of The Commercial Network, one of the largest affiliations of commercial real estate firms in the nation.