CFC EQUITY MANAGEMENT DIVISION

Feb 10, 2010

Wilmington, N.C. – February 10th, 2010 – Cape Fear Commercial is pleased to announce the recent hire of Will Purvis as Managing Director of CFC Equity Capital Management, LLC, a new division of Cape Fear Commercial. “Will is very talented and shares the same disciplined investment philosophy that is one of the core principles of our firm’s capital management division”, commented Brian Eckel, co-founding partner of Cape Fear Commercial. “We are answering the call of our investment clients.” Mr Purvis’s primary focus will be on the underwriting of acquisition and development transactions.

Prior to joining Cape Fear, Mr. Purvis was a banker with Grandbridge Real Estate Capital, a subsidiary of BB&T. Mr. Purvis was focused on commercial production for the Eastern, Northeast and Triangle region of the bank’s network. He was responsible for leading a team through lending process including origination, underwriting, and processing with a strong focus on due diligence and asset quality. He has structured preferred equity and note sales, creating value for his clients in the process. Mr. Purvis has completed complex transactions in both acquisition and refinance of multiple property types including industrial, office, medical, multifamily, hospitality, and retail properties throughout the country.

A native of eastern North Carolina, Mr. Purvis received a B.S. in Business Management from North Carolina State University and a Master of Business Administration from Wake Forest University. “We are confident that he will complement our multi-disciplined team,” stated Vin Wells, co-founder and partner of Cape Fear Commercial.

Purvis commented “With their management portfolio of over 1.3 million square feet and a solid track record on investment transactions, I knew that the CFC Equity Capital Management opportunity was the right fit. We are fairly confident that the market’s financial distress will begin to create exceptional opportunities to make investments. While capital is scarce, our platform will allow CFC investors access to attractive transactions in superior properties.”