Pacific Security Capital Senior Director Reveals Next Big Thing in Apartment Loans & Condo Development

Los Angeles, CA, September 22, 2005 –www.pacificsecuritycapital.com - Pacific Security Capital (“PSC”), a leading commercial real estate investment bank and provider of commercial real estate loans, announced today that Senior Director, Steve Otos, will be participating in a panel on Condo Development at the Apartments 2005 conference, September 27, Westin Century Plaza, Los Angeles.

Otos will join leading condo industry experts in a discussion on “The Next Best Thing: What's Driving the Boom in Condo Development & Conversions.”

“There has been a great boom in condo activity over the past few years,” said Steve Otos, Senior Director of Pacific Security Capital, “however, many lenders are now concerned about the future stability of the condo market.”

Pacific Security Capital believes that these concerns emanate from lenders who have been least active and have less knowledge about the asset class.

“The bottom line is that good projects from good sponsors will always receive interest from the capital markets,” said Otos.

According to Otos, projects that encompass the following will be successful in finding financing, even with the caution currently being expressed by some in the commercial real estate lending community:

•    Sponsors with Successful Track Records
•    Adequate Sponsor Equity Contribution
•    Fully Entitled Projects
•    Market Feasibility
•    Strong Track Record in Marketing
•    High percentage of pre-sales

Otos will share the latest trends in apartment loans/condo financing and his thoughts on key drivers of the condo boom during the panel session at Apartments 2005.

Panel:        “The Next Big Thing: What’s Driving the Boom in Condo Development &   Conversions”
Date:        Tuesday, September 27, 2005
Time:        3.25 pm – 4.15 pm
Location:    Westin Century Plaza, Los Angeles, CA

To attend Apartments 2005, register online at http://www.realestateoutlook.com/registration2.htm

To learn more about apartment loans from Pacific Security Capital or its preferred borrower program, PacificEliteTM please visit www.PacificSecurityCapital.com or call 1-800-844-6085.
                                                                                    
About Pacific Security Capital
Pacific Security Capital is a leading commercial real estate investment banking firm providing commercial real estate loans, structured finance, investment sales and advisory services. The combination of direct lending, advisory, intermediary, corporate and professional services, syndication, investment sales and development services consistently allow PSC to rank among the leaders in the industry. PSC is headquartered in Beaverton, Oregon with other offices in major markets in North America and Europe. More information about the company can be found at www.PacificSecurityCapital.com

For more information about Apartment Loans from Pacific Security Capital, please visit www.pacificsecuritycapital.com or call 1-800-844-6085.