BlackRock Realty Advisors, Inc., the real estate equity arm of BlackRock,Inc., has engaged Riverstone Residential, a CAS Partners company, to manage apremier residential portfolio of apartment properties. Located in marketsnationwide, the 62 communities represent more than 15,000 units. The portfolioof properties was previously managed by Metric Property Management, Inc., awholly owned subsidiary of BlackRock Realty Advisors.

Riverstone is an expert in property management transitions. Recognized asthe nation's leading residential management company, Riverstone hassuccessfully integrated the portfolios, employees and resources of sixrespected regional management companies in less than three years. In order toprovide seamless operational continuity for residents and clients ofBlackRock, Riverstone is offering positions to the employees of Metric.

This new business alliance presents significant benefits for both parties.BlackRock and its clients benefit from the expertise, resources andefficiencies of the country's premier provider of residential real estatemanagement services, while Riverstone achieves valuable market gains thatfurther accelerate the company's impressive growth.

"Our primary objectives in the selection of Riverstone were to providestability to our portfolio throughout the transition and take advantage ofRiverstone's value-added strategies and economies-of-scale to continue toprovide favorable returns to our clients," said Ron Zuzack, Managing Directorand head of U.S. Real Estate Equity for BlackRock Realty Advisors, Inc.

"Riverstone and BlackRock share a strong client focus and a commitment tomaximizing the financial returns of our clients' assets," said ChristyFreeland, CEO for Riverstone Residential. "We are honored to be selected tomanage this portfolio and to provide continued opportunity for a valued groupof experienced associates."

Riverstone also offers world-class property and asset management servicesfrom its parent company, CAS Partners. These business services includeinsurance, purchasing, utility, construction management, financial advisory,and credit services designed to enable increased efficiency and cost-effectivemanagement options for property owners.

Over the past two and a half years, Riverstone has successfully increasedits portfolio by 276 percent through successful client development andstrategic company acquisitions. The company's growth is underscored byRiverstone's firm commitment to exceptional customer service and the highestoperational standards.

About Riverstone Residential

Riverstone Residential, a subsidiary of CAS Partners, is the largestprivately held residential management company in the United States. Focusedexclusively on the delivery of world-class property and asset managementservices, the company manages a portfolio of assets valued at more than $25billion for leading institutions, pension funds, developers and other majorowners. Located in metropolitan markets across the nation, properties includehigh-rise, mid-rise and garden-style communities. The company is headquarteredin Dallas, Texas. Additional information is available athttp://www.RiverstoneRes.com.

About CAS Partners

CAS Partners is the American property and asset management servicescompany of UK-based Regis Capital, Ltd. Since 2006, the Dallas-basedorganization has provided the real estate industry with unparalleled servicesin property management, construction, maintenance, asset management, financialservices and insurance services. CAS' operating groups include RiverstoneResidential Group, the largest privately held residential management companyin the country. Additional information is available athttp://www.casfirst.com.

About BlackRock

BlackRock is one of the world's largest publicly traded investmentmanagement firms. At September 30, 2008, BlackRock's AUM was $1.259 trillion.The firm manages assets on behalf of institutions and individuals worldwidethrough a variety of equity, fixed income, cash management and alternativeinvestment products. In addition, a growing number of institutional investorsuse BlackRock Solutions investment system, risk management and financialadvisory services. The firm is headquartered in New York City and hasemployees in 22 countries throughout the U.S., Europe and Asia Pacific.

BlackRock Realty is the real estate advisory subsidiary of BlackRock.BlackRock manages over $27 billion in private real estate equity around theworld for public, corporate and union pension plans, as well as insurancecompanies, foundations, endowments and private investors. The firm offers afull range of investment strategies, including core, value-add andopportunistic encompassing all major property types: office, industrial,retail and multihousing. For additional information, please visit theCompany's website at http://www.blackrock.com.

SOURCE Riverstone Residential