KEMA Advisors, Inc.
209 E Tryon St.
Hillsborough NC 27278
Phone: (919) 644-0430 Fax: (919) 644-1308
www.kemaadvisors.com

For Immediate Release
Please contact:
Lauri Michel
Phone: (919) 644-0430
Email: lmichel@kemaadvisors.com

KEMA COMPLETES THIRD MULTIFAMILY & HEALTHCARE SALE
Hillsborough, NC
October 18, 2005

KEMA Advisors, Inc. ("KEMA") recently completed its third sale of multifamily and healthcare assets on behalf of the US Department of Housing and Urban Development.

HUD held its unsubsidized "Multifamily & Healthcare Loan Sale 2005-2" on September 13, 2005. HUD sold 23 mortgage loans carrying an aggregate unpaid principal balance ("UPB") of approximately $186 million. The auction generated proceeds of approximately $148 million and $60 million in savings. The sale resulted in the highest single asset sale recovery rate (80% of UPB) in the program's history.

KEMA was instrumental in helping HUD to achieve its goals for the sale:

Maximizing sales proceeds;
Making the sale more attractive to small investors; and
Streamlining the loan sales process.

Acting as both Transaction Specialist and Due Diligence Contractor, KEMA partnered with The Debt Exchange to provide the online sales platform.

KEMA is a boutique financial advisory firm that assists clients in the management and disposition of real estate loans, commercial loans and other corporate assets. KEMA is a minority-owned business, a US Small Business Administration 8(a) certified firm, and a certified Historically Underutilized Business by the NC Department of Administration. KEMA is headquartered in Hillsborough, NC and maintains satellite offices in Washington, DC and New York, NY.