HERNDON, Va., September 8, 2010 – NAIOP, the Commercial Real Estate Development Association, today announced that The Alter Group has been selected as the 2010 Developer of the Year.

The Alter Group has developed more than 100 million square feet of prime build-to-suit and speculative office and industrial space throughout its 55-year history. Currently, the company has 4 million square feet of ongoing development, including sustainable, high-image office and industrial buildings for major corporations, in addition to healthcare campuses and student housing - the two sectors most critical to the nation's economic recovery, according to the Obama administration and Congress.

"The Alter Group's diverse business practices and position as an industry leader are evidenced by its ability to outperform no matter what the real estate cycle," said Thomas J. Bisacquino, NAIOP president. "NAIOP is proud to recognize The Alter Group for its development of outstanding projects and its ability to extend its company's practices to capitalize on opportunities and meet the demands of today's markets."

NAIOP will present the 2010 Developer of the Year award to Michael Alter, The Alter Group's president, and other members of the Alter team on Thursday, October 28, at NAIOP's Development 10: The Annual Meeting for Commercial Real Estate in Orlando, Fla.

Since 1979, the Developer of the Year award has been presented annually to one member-developer company that best exemplifies leadership and innovation in the commercial real estate industry. It is determined by a selection committee of industry peers, using six criteria to evaluate entries: industry and business leadership; involvement in NAIOP; quality of products and services; financial consistency and stability; ability to adapt to market conditions; and social consciousness. Past winners of the award include Highwoods Properties; Liberty Property Trust; Ryan Companies; Bentall Capital; ProLogis; Colonial Properties Trust; and Lowe Enterprises.

Diversity in Products and Strategic Outlook
The Alter Group has remained an industry leader with its commitment to its core beliefs: real estate must hold to solid fundamentals; credit has to be based on real value; underwriting should assure the stability and viability of the asset over the long term for the client; and a strong cash position is critical to deal with the shifting marketplace and to inspire confidence in employees, customers and the capital markets.

The company has a track record of anticipating changing business environments with a strategic approach that prepares for the contingencies of the market. The Alter Group anticipated difficulties in the capital markets and, in response, sold assets to build up the company's cash reserves, including a $100 million portfolio sale in 2000.

Diversification in products and services has established The Alter Group in positions of leadership throughout the industry. The company has established new affiliates to fill market niches, including:

Alter Asset Recovery, providing expedited solutions for lenders and investors with distressed properties.

Alter Construction Management, providing program management services for major construction projects through the country.

Alter Asset Management, providing third-party property management and leasing services for institutional, corporate and private investors as well as for Alter's 17 million SF national portfolio.

EnTrust Realty Advisors, providing disposition and recapitalization of investment real estate through direct sales, joint ventures and structured financing.

Alter 360°, providing turnkey real estate brokerage representing small-to medium sized business owners and private real estate investors and owners.

The Alter Group was one of the first developers to commit major resources to develop in the two product categories that have best withstood the recent economic downturn: healthcare and student housing.

Almost 15 years ago, the company created a dedicated healthcare affiliate, Alter+Care, to specifically bring its expertise in building world-class facilities to a sector that previously relied on independent consultants and contractors. Alter+Care finances, designs, develops and owns major medical office buildings and outpatient campuses that enable hospitals to deliver better medical and financial outcomes. Since 1996, Alter+Care has developed more than 1 million square feet of outpatient healthcare facilities.

The company's entry into student housing was the redevelopment of a 147,000 square foot dormitory in Chicago. To reach its millennial tenant population, The Alter Group created a social media platform utilizing a mix of online collateral, pay-per-click advertising and interactive Web capabilities to offer innovative virtual tours and a new-media leasing process. This highly creative approach was key in the marketing and successful leaseup of the dormitory rooms. The marketing of Fornelli Hall demonstrated The Alter Group's leadership in creative leasing strategies and deploying the latest technology, including social media; the company currently draws more than 10,000 people a week to its blog and podcasts.

Additionally, the company is committed to incorporating green design initiatives and environmentally sensitive efficiencies into its buildings, currently retrofitting buildings with higher energy efficiency systems. Through its developments, The Alter Group has made a compelling case for how green technology lowers insurance premiums and energy costs, conduces to healthier and more productive tenants, and benefits the surrounding community.

The company was an early adopter of energy-saving technologies predating the sustainability movement. As early as the 1970s, the company incorporated mechanical systems into buildings which were designed to take advantage of outside air to cool the interior in mild weather conditions. It was also a pioneer in heavy landscaping, using trees to cut down on the heat-island effect. The company has worked hard to improve indoor environmental quality by using low-emitting paints and flooring, as well as providing more individual control over lighting and mechanical systems. On new projects, it uses white roofs; installs fewer parking lot lights to avoid light pollution; builds close to public transportation whenever possible; and uses water-efficient landscaping, innovative wastewater technologies and water-use reduction systems. It also recycles all construction debris. The company has seen its buildings achieve better tenant retention and, ultimately, lower cap rates by virtue of its green building program. The Alter Group is a member of the U.S. Green Building Council.

The company's traditional products -- office and industrial -- remain strong components of The Alter Group's overall portfolio. In addition, it is a leader in mixed-use development: its latest project is one of the country's largest mixed-use developments, Cornerstone in Grayslake, Ill. The development of the 650-acre parcel will result in 3.5 million square feet of light industrial/office space; 600,000 square feet of restaurants, shops and entertainment; and 800 homes - yielding 9,000 jobs within the project and an additional 7,000 supporting jobs within Lake County, Ill.

Social Consciousness
The Alter Group's spirit of social responsibility runs deep within the company, evidenced not only in the company's commitment to sustainable development, but within its involvement with AmeriCorps, a national service organization uniting diverse young professionals, to its support of minority-owned businesses, including affiliate EnTrust Realty Advisors, one of the country's few minority-owned investment advisory firms.

About NAIOP

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

About The Alter Group

The Alter Group is a national corporate real estate development firm of office, industrial and healthcare facilities. Additionally, the firm provides comprehensive services in brokerage, construction, investment services, and property and asset management.

Founded by William A. Alter in 1955, The Alter Group has developed approximately 100,000,000 SF of speculative projects for its own portfolio and build-to-suit facilities for corporate users. This year, the company has 4,000,000 SF of space, worth $600,000,000, under development in national markets. The firm was recently ranked as # 3 in the National Real Estate Investor survey of America's top office developers. Information at www.altergroup.com.