THE LIGHTSTONE GROUP WELCOMES SHARON THAMES AS AREA VICE PRESIDENT, MARYLAND/WASHINGTON D.C. OF BEACON PROPERTY MANAGEMENT


LAKEWOOD, NJ -- (OCTOBER 25, 2006) – The Lightstone Group, one of the largest private real estate owners in the country, has named Sharon Thames Area Vice President of the Maryland/Washington D.C. region of Beacon Property Management.

Ms. Thames will oversee operations of the company’s portfolio of 2100 multi-family residential housing properties that are operated by Beacon Property Management, a subsidiary of The Lightstone Group, which serves as its management arm.

Beacon Property Management is one of the largest players in the multi-family residential housing sector, offering high quality housing at affordable prices in the Northeast, Southeast and Midwest regions of the US.

“Sharon brings a wealth of experience working with high quality operators. Her focus on tenant retention and resident satisfaction is a great fit for our program,” said Martin J. Sumner, Executive Vice President and Chief Operating Officer of the Lightstone Group. “Sharon’s hiring exemplifies Beacon’s continuing success in attracting experienced professionals to add to our team.”

Ms. Thames has more than 10 years experience in property and operations management, business process improvement, quality customer management, client relationship management, financial analysis, and market analysis and development.

She previously was employed by: AIMCO Corporation, RIMSI Corporation, Southern Management Corporation, Sprint Communications and Minolta Business Systems.

Ms. Thames holds an MBA from John’s Hopkins University with a specialization in marketing management, and a Bachelor of Science degree in Business from Columbia Union College with a specialization in organizational behavior.