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CB Richard Ellis/Hubbell Commercial Advises Ev Cochrane & Associates on $51.25 Million Multi-Family Portfolio Sale

WEST DES MOINES, Iowa (September 19, 2006) – CB Richard Ellis/Hubbell Commercial, the leading commercial real estate broker in Iowa, announced today that its Private Client Group advised Ev Cochrane and Associates in the sale of its multiple housing properties located in Ames, Iowa for $51.25 million to Campus Acquisitions, an Illinois based company. The 407-unit portfolio is located on the footsteps of the Iowa State University campus and comprises a two-block radius. The sale marks the largest multi-unit housing transaction ever completed by CB Richard Ellis/Hubbell Commercial. The firm completed the transaction through a coordinated effort of its Iowa Private Client Group, consisting of Vice Presidents of CB Richard Ellis/Hubbell Commercial Linda Gibbs, CCIM, SIOR and Tim Sharpe, CCIM, SIOR. Through the vast nationally-integrated network of private client group professionals, the Iowa Private Client Group is able to assist in the acquisition, disposition or exchange of commercial real estate anywhere in the country.

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