Turkey Retail Project Wins Award for Developers Amstar & Renaissance

ISTANBUL, January 24, 2011 - Kadikoy District — Kozzy Shopping Center was named Turkey's Best New
Shopping Center Under 50,000 m(2) by Turkey's Trade Council of Shopping
Centers & Retailers (AMPD), Kozzy developers Amstar and Renaissance
Development announced today. In addition, Kozzy was selected as one of two
finalists for the International Council of Shopping Centers' (ICSC) European
Shopping Center Awards as Best New Development Under 20,000 m(2).

Kozzy, a 14,600 m(2) enclosed mall in this affluent Istanbul
neighborhood, was developed during 2009 by a joint venture between Amstar and
Renaissance Development. The shopping center is located on the Anatolian side
of Istanbul in a high-density, residential neighborhood. In addition to the
diverse, high-quality mix of 65 international and domestic retailers, Kozzy
features a considerable amount of social space including a nine-screen
cinema, indoor and outdoor restaurants and cafes, a 400-seat theater and an
art exhibition center. Kozzy has been 100% leased since its April 2010 grand
opening.

Kozzy earned the AMPD's designation after being judged on design,
concept, location, performance, sustainability, presentation quality and how
it exemplified the retail sector's future trends. The award was determined
through a vote of AMPD's members after a thorough evaluation conducted by
Turkish and global retail members according to the criteria established by
NRD, Euro Commerce, FAPRA and ICSC.

The ICSC nomination was announced during November and winners will be
announced during June at a ceremony in Paris. Presented annually since 1977,
the ICSC's European Shopping Center Awards honor highly successful retail
developments. The ICSC considers a variety of criteria during its
evaluations, including architecture, financial structure, impact on the
surrounding area, innovation, location, property performance, marketing
concept, design concept, brand/store mix and environmental awareness.

About Amstar:

Established in 1987, Amstar is a real estate investment manager that
offers both commingled funds and tailored separate accounts to its
international and domestic clients. With more than $1.50 billion of assets
under management, Amstar's current portfolio consists primarily of retail,
office, hospitality and multifamily holdings within the major markets of the
United States and select markets in Europe and Latin America. For more
information about Amstar visit the company's website at www.amstar.com
or contact Amstar Executive Director Rob Toomey at +1-303-534-6322.

Rob Toomey, Executive Director of Amstar, +1-303-534-6322