Home Properties Announces Three Acquisitions Totaling $204.4M

Home Properties, Inc.

today announced that, on September 30, 2010, it purchased apartment communities in Ellicott City, Maryland, Fairfax, Virginia and the Town of Brookhaven in Suffolk County, New York for a combined total purchase price of $204.4 million. Year-to-date the Company has purchased assets of approximately $325 million. "These three acquisitions, in several of Home Properties' key geographic markets, will be immediately accretive to earnings," said Edward J. Pettinella, President and CEO of Home Properties. "Year-to-date we have purchased eight apartment communities with nearly 2,500 units, which have significant redevelopment potential that will contribute to future revenue growth, enhancing shareholder value."