NEW YORK, January 27, 2004 - Investcorp, a global investment group, today announced it has sold Washington Plaza in Piscataway, New Jersey, and Monthaven Park Apartments in Nashville, Tennessee for undisclosed prices.

Investcorp, in partnership with Crow Holdings and Lincoln Equities Group, sold Washington Plaza on January 22, 2004.  The acquirer of the property is TA Associates Realty of Boston.  The property is a 198,780 square foot office building located in Piscataway, New Jersey.  The Investcorp/Crow/Lincoln partnership was represented exclusively in this transaction by the Metropolitan Area Financial Services Group of Cushman & Wakefield. 

On January 23, 2004, Investcorp sold Monthaven Park Apartments to Mid-America Apartment Communities Inc. of Memphis, Tennessee.  The property is a 456-unit, garden-style apartment project which Investcorp originally acquired in December 2002.  Built in two phases in 1999 and 2001, Monthaven consists of 19 two- and three-story residential buildings, plus two office/clubhouse buildings.  The property is situated on 31.56 acres in the northern suburbs of Nashville, Tennessee.  Occupancy at Monthaven Park at the time of sale was 96%.  Investcorp was represented exclusively in this transaction by Apartment Realty Advisors of Atlanta, Georgia.

"After Investcorp's record year of sales in 2003, in which we announced $530 million worth real estate sales, we are pleased to open 2004 with such strength," commented F. Jonathan Dracos, Investcorp Managing Director.  "The Washington Plaza and Monthaven Park Apartments transactions have enhanced the value of our portfolio and will offer our investors excellent returns in 2004."

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