Seniors Housing Developer (STACS) Announces Joint Venture with Affiliate of Starwood Capital Group, LLC

$65 Million Dollar Continuing Care Campus in Aurora, Colorado Underway

Seniors Housing Developer (STACS) Announces Joint Venture with an Affiliate of Starwood Capital Group Global, LLC: $65 million Dollar Continuing Care Campus in Aurora, Colorado Underway.

St. Andrew’s Consulting Services, (‘STACS’) pleased to announce the construction start of St. Andrew’s Village (‘STAV’), its 9.58-acre, 269-unit retirement community campus located in Aurora across from Heather Gardens. The $65 million-dollar, privately financed project is underway with expected occupancy in spring of 2006. Approximately one third of the independent living units are reserved and STACS management anticipates a sell-out prior to opening. A kick-off celebration event will be held on January 30th for prospective residents and friends of the project. The St. Andrew’s retirement community will provide independent living, assisted living, skilled nursing and 14,000 s.f. of retail on one convenient campus. The community will be home to more than 350 residents and 100 full time employees. Job opportunities will be available in management, nursing, food services, recreation, housekeeping and maintenance. The community will buy locally for food, medical supplies, housekeeping/maintenance and other products needed to support the community services.

To date, St. Andrew’s Village has been designed, developed and pre-marketed by STACS. Start-up project funding and support was generously provided by a community-based Board of Directors, business leaders and future residents.

Equity for the construction and development of the community is being provided by a new entity, formed between an affiliate of Greenwich, Connecticut-based Starwood Capital Group, Global, LLC and STACS, the project’s developer. Future STACS seniors housing ventures are planned for the greater Chicago area, Kansas City, Indianapolis, and other Mountain-Central and Midwest geographies.

About STACS
STACS is a St. Louis- based developer, marketer and operator of senior housing and care communities with satellite offices in Denver, Indianapolis and Nashville. The company and its principles have developed, marketed and operated in excess of $130,000,000 of senior housing projects in Kansas City, Indianapolis, Dallas, San Antonio, St. Louis, Central Florida and Illinois. As a consulting developer, STACS has worked with the not-for-profit and for-profit sponsors of 16+ retirement communities.

STACS principles include its founder, Bruce Russell, President; Steve Armstrong, Vice President-Development; Betty Ette, Vice President-Operations and Wendy Horn, Chief Marketing Officer. The company recently announced plans for additional retirement community projects in the Midwest and Rocky Mountain regions.

About Starwood Capital Group
Starwood Capital Group is a privately held investment management firm that specializes in real estate related investments on behalf of select private and institutional investment partners. Founded in 1991, Starwood is one of the nation's most active and successful real estate investment firms, having acquired a highly diversified portfolio totaling more than $7.5 billion in real estate assets. During the past ten years Starwood has closed and/or advised on over 250 transactions ranging in size from $1 million to $14.6 billion, and has acquired equity interests in residential lots, multifamily and condominium units, hotels, office, retail and industrial space, golf and leisure-related properties.

Starwood has led the formation and growth of several market leading companies including iStar Financial (NYSE: SFI), the leading publicly traded finance company specializing in commercial real estate mortgage, mezzanine and net lease financing, and Starwood Hotels & Resorts Worldwide (NYSE: HOT), a leading global owner/operator of hotels, with ownership of brands such as Sheraton, Westin, The St. Regis Luxury Collection and the “W”.

For more information on St. Andrew’s Village, please contact Lynn Wallace, Director of Marketing at (303) 695-8100, visit the on-site information office at 13801 E. Yale Ave, Aurora, and Colorado 80014 or view information online at www.standrewsvillage.us.

For more information on St. Andrew’s Consulting Services, please contact Wendy Horn, Chief Marketing Officer at (317)-569-9914 or visit the company’s website at www.stacs.us