Meriwether Buys the SMI Building

SEATTLE, January 27, 2006 –Meriwether Partners in partnership with Fred Hines, Jr. has acquired the 34,000 square foot SMI Building located in Milpitas, California. Meriwether Partners arranged the $7,800,000 acquisition and also placed a $4,800,000 acquisition loan through GE Commercial Finance.

The SMI Building is a one-story office and high-tech manufacturing facility. The property was built in 1982 and substantially renovated by the present occupant, Silicon Microstructures Inc (SMI), in 2002/03. The SMI Building was purchased as a long-term sale/leaseback.