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NICHE OPPORTUNITIES EXPAND A&P's CAPABILITIES


Bay Harbor Islands, FL, June 25 - Atlantic & Pacific Management formally announced today the formation of a new entity, Atlantic & Pacific Development led by Alex Lastra. Lastra has over 12 years experience in all facets of development, most recently with The Related Group of Florida. During his tenure with high profile companies, he gained a reputation for being one of the most sought after, highly regarded developers in South Florida. His demand for quality at every level and his innovative problem solving made a winning combination as he found niche opportunities in high growth markets. Lastra's ability to adapt product design to infill locations will be the catalyst for the next phase of A&P's expansion.

"We were very excited that Alex has joined our team. With his vision and depth of experience, we can add more creative and innovative solutions for the real estate industry, not just here in Florida, but across the country as well," says A&P's Chairman and Chief Executive Officer, Howard D. Cohen. "We are seeing additional opportunities in the areas of rehabilitation and market segmentation such as the increased demand for affordable housing, senior housing, as well as, student housing."

The strength of Atlantic & Pacific has always been and will continue to be its ability to respond to market demands through prudent business decisions, innovative approaches, and assembling the best possible team of professionals. Our company has demonstrated this by the formation of CASH Collections and Innovative Management Services, two newly created entities within Atlantic & Pacific.

Prior to joining Atlantic & Pacific, Lastra dedicated his time, talent and expertise to such companies as The Carlisle Group, Housing Trust Group and The Lastra Group, a family owned real estate development and construction firm. He is a graduate of Florida International University's School of Business with a specialization in Finance. He has also been involved in Leadership Miami, a program of the Greater Miami Chamber of Commerce.

For more information regarding Atlantic & Pacific, visit us online at www.apmanagement.net or call (305) 867-2245.