PALISADES FINANCIAL LOANS APPROXIMATELY $10M TO WESTCHESTER RESIDENCE & CLUB FOR DEVELOPMENT OF INDEPENDENT ACTIVE ADULT LIVING COMMUNITY

Mount Kisco, NY, Mar 20, 2007 - /FLIERWIRE/-- Mount Kisco, N.Y. (March 21, 2007) - Palisades Financial, a leading New Jersey-based investment banking and advisory firm, has granted a $9.9 million bridge loan to the Westchester Residence & Club, located in the Village of Mount Kisco, N.Y., for the acquisition of an undeveloped 18-acre site and development of a 129-unit independent, active adult living community.

The development, consisting of one and two bedroom apartment residences, will feature a spa, health club, heated indoor pool, and multiple dining choices.

Construction is expected to break ground by October 2007, just as a wave of mostly affluent Baby Boomers in Westchester Countyone of the nation's most affluent countiesreach retirement age.

The 60-and-over population is expected to grow 45 percent between 2000 and 2030 the largest projected growth of all the population segments in Westchester Countygenerating a significant increase in demand for senior-living facilities. (Census, 2000)

"Building an independent active adult living community with high-end services and amenities is our vision for this community," said Robert Mishkin, manager of the Westchester Residence & Club. "Palisades Financial not only was able to react quickly to our financial needs but was also able to enhance the project by sharing with us their real estate development expertise. We have confidence that the Westchester Residence & Club will be an asset to people living in the Mount Kisco area while yielding high returns for our investors."

About Palisades Financial
Palisades Financial is an investment banking and advisory firm specializing in real estate secured corporate lending. Palisades Financial has successfully completed over $2 billion in transactions in 14 states since it's founding in 1995 by William Procida. In 2002, Palisades Financial launched its first fund, Palisades Regional Investment Fund I, which has invested in transactions valued at over $500 million. The Fund, now closed to new investors, provides first mortgages, bridge, mezzanine and equity financing. In April 2006, Palisades Financial launched Palisades Regional Investment Fund II, which is raising $200 million. Both Palisades Financial and the Palisades Regional Investment Funds are based in Fort Lee, New Jersey. For more information, call 201-894-5000 or visit www.palfi.net.