FOR IMMEDIATE RELEASE

Nashville, Tennessee
June 9, 2005

SUNTRUST BANK BUILDING SELLS FOR $14.5 MILLION

Norfolk, VA-based Harbor Group International has sold the SunTrust Bank Building, located downtown at the corner of Fourth Avenue and Church Street, for $14,500,000. The buyer was Sterling American Properties based in New York. The twenty-story building was originally built in 1968 for Third National Bank and is 249,311 square feet. The property is currently 90% occupied by 19 different tenants. The largest tenant is SunTrust Bank, which occupies over 120,000 square feet.

"SunTrust Bank Building was a successful investment for Harbor Group International," said Sid Bridge, spokesman for the company, "The property performed well and we were able to successfully execute our exit strategy."

Rick Helton, John Keller, and Doug McDowell of ProVenture Commercial Real Estate represented Harbor Group during the sale of the property. Rob Lowe of Colliers Turley Martin Tucker represented Sterling American in the purchase.

Harbor Group originally purchased the property in April of 2000 for $8,600,000 as a part of a larger portfolio of Tennessee investment properties, which included two office buildings and a parking garage located in Knoxville, TN. The SunTrust Bank Building was the last building to be sold from that original portfolio as part of Harbor Group’s ongoing investment strategy.

"The successful sale of this property to Sterling American signals continued strength in the investment property market, as well as a general optimism in the future of downtown Nashville," said Rick Helton. According to Helton, investors on a nationwide basis showed significant interest in the sale of the property, and Harbor Group received multiple offers prior to selecting Sterling American to be the buyer.

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