Acquisition Expands Private Investor's Houston Portfolio to Nearly
                           1.2 Million Square Feet

    HOUSTON, March 2 /PRNewswire/ -- CMD Realty Investors, Inc., one of the
nation's leading private equity real estate firms specializing in the
acquisition, development, leasing and management of suburban office properties
nationwide, today announced it has closed on the purchase of Northpoint
Central from Northpoint Partners, L.P., a partnership affiliated with Insignia
Financial.
    Northpoint Central is a nine-story, Class-A office building comprised of
179,125 square feet of space.  Currently 90 percent occupied, the building's
exterior is composed of silver reflective glass with interior features that
include black granite floors in the lobby.  Built in 1982, Northpoint Central
is located in the Greenspoint submarket at the southeast corner of Interstate
45 and Beltway 8 (Sam Houston Parkway) in far north Houston.  Major tenants
include Vinson Supply, Invatec, Lumberman's Mutual, Kaneka Texas Corp. and
Great Western Management.
    Kevin Brands, CMD's senior vice president in charge of acquisitions and
development for CMD's Southwestern Region, directed the acquisition.  The
seller was represented by Mark Robertson with Insignia ESG.
    "This marks our sixth acquisition in Houston over the past year," said
Brands.  "Based on our study of the Greenspoint submarket, we found that
Northpoint Central represented the quality, visibility and size we were
looking for in the area.  We believe Greenspoint will continue to grow and
resume its prominence as the major business hub of north Houston."

    About CMD Realty Investors, Inc.
    CMD Realty Investors, Inc., is a Chicago-based private equity real estate
firm specializing in the acquisition, development, leasing and management of
suburban office properties nationwide.  Founded in 1902, the company operates
through a network of regional offices to maximize its local expertise and
centralizes capital markets, disposition, legal and accounting functions to
benefit from the firm's national market knowledge.
    CMD currently owns and operates a portfolio of more than 10 million square
feet of space with primary offices located in Durham, N.C.; Ft. Lauderdale;
Dallas; Denver; Phoenix; Washington, D.C.; and Atlanta.

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