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2009

The Preiss Company Recognized for Steady Growth and Profitability by Raleigh Chamber

Annual event celebrates corporate achievements of Triangle businesses and entrepreneurs

RALEIGH, NC – May 18, 2009 – The Preiss Company (“TPCO”), the largest provider of off-campus student housing at North Carolina State University, Clemson University, Auburn University in Alabama, and the University of Texas in Austin and the second largest provider at UNC Charlotte, has been selected by the Greater Raleigh Chamber of Commerce to receive the organization’s Steady Growth and Profitability Master Award. The company will be formally recognized at the Chamber’s May 19th Pinnacle Awards Celebration at the Raleigh Convention Center, as well as on a special web site for Pinnacle Award winners.

The Greater Raleigh Chamber of Commerce is the Triangle’s largest business membership organization—made up of more than 2,500 member firms representing two-thirds of the private sector employment in Wake County. The Chamber has been representing the interests of the local business community for more than a century with a mission to sustain and further develop a thriving economy and to enhance our community's quality of life. The Pinnacle Business Awards is one of the Chamber’s most prestigious events and honors both emerging companies, along with companies that have exhibited a substantial history as an established business.

Kirk Preiss, company Chief Financial Officer, says that despite the sluggish housing and real estate market, student housing continues to remain robust. The company continues to add to their portfolio with their recent purchase of University Village at the Coast, a 436-bed apartment property located three miles from Coastal Carolina University and representing the company’s first presence in the Myrtle Beach market. TPCO also continues to grow their employee base and has hired 46 new team members since the first of the year.

“As The Preiss Company continues to seek investment opportunities, based on opportunity and risk, we’re also aware of the current economic climate and understand that more students will be looking for affordable housing,” says Preiss. “As a company, we continue to focus on green improvements and cost saving measures in utilities that will make our properties perform better and will drop costs to our residents.”

Preiss says that he is proud of his company’s recent accomplishment and that The Preiss Company’s success continues to be a “team effort”.

“Everything that we have achieved as a company is a direct result of the hard work, dedication, and professionalism made by every single one of our team members,” adds Preiss. “It truly is a collective effort. I’m so proud and fortunate to have the opportunity to work with these professionals that I consider family. We gratefully accept this award and know that the best is yet to come for The Preiss Company.”

About The Preiss Company
Founded in 1987 by Donna Preiss, TPCO employs over 168 team members and provides a wide range of services including acquisition, property management, due diligence, construction management, development, and consulting for multi-family real estate investments. Beginning its 22nd year, TPCO has formed over 50 partnerships and developed over 20 projects stretching from Maryland to Texas. For more information, visit www.tpco.com.

Press Contact:
Amy Barger, Marketing Director
The Preiss Company
(919) 291-9224
amy.barger@tpco.com