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Landings Real Estate Group Joint Venture Awarded $250 Million 50 Year Enhanced Use Less (EUL) Contract at Eglin Air Force Base in Florida
May 18, 2007

Contact: Lynn Lee
Corporate Administrator
Landings Real Estate Group
(401) 845-2212

NEWPORT - RHODE ISLAND– May 18, 2007 –A joint venture among Hunt Development Group, Dick Corporation, and Landings Real Estate Group announced today the team has been awarded a $250 million contract by the Department of Air Force. The award of the Enhanced Use Leasing (EUL) contract is for the design, development, financing, construction, and management of the Emerald Coast Technology and Research Center at the Eglin Air Force Base.

The project involves the ground lease of approximately 98 acres of land adjacent to the Eglin West Main Gate. Anchored by the University of Florida’s Research Education & Engineering Facility (REEF), the proposed development will include approximately 1.1 million square feet of class A office, technology, and research space supported by an education cluster of undergraduate and graduate level research and training facilities complimented by student housing and a variety of amenities including a conference center with a nightly stay hotel facility, a health wellness center, and an extended stay hotel facility, mid scale restaurant, child development center, and allocated and space for an Okaloosa County EDC incubator project.

LANDINGS REAL ESTATE GROUP will be providing development, marketing, and property management services to the joint venture and design will be executed by the team of Greenhorne & O’Mara, and Bullock Tice Associates. The joint venture, known as Eglin Properties, LLC, has extensive privatization and military construction experience for the Air Force and in the northwest Florida region. Additionally, the design team of Greenhorne & O’Mara and Bullock Tice is currently under contract to design the expansion of the REEF building.

Landings Real Estate Group is a private real estate company headquartered in Newport, Rhode Island. The firm recently completed a $15.5M dollar land and housing unit purchase from the Department of Navy and is currently redeveloping the property in to workforce housing. The Landings Real Estate Group founder, Christopher C Bicho, has 20 years experience in the commercial real estate industry and for the past decade has been is a leader in the privatization of government owned residential and commercial real estate. The Landings Real Estate Group is an owner and operator of real estate assets and also provides development, construction, and property management services to real estate investors. The company has held investments in multi-family, condominium, and retail properties in Rhode Island for the past 20 years and continues to grow its owned portfolio in the Northeast with its most recent 238 unit apartment community acquisition in Middletown, RI. branded as Landings.

For more information on LANDINGS REAL ESTATE GROUP, visit their website at www.landingsgroup.com.

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