SOURCE: The Equastone Foundation

May 09, 2008 14:16 ET

The Equastone Foundation Raises Nearly $50,000 to Support San Diego Fire Relief Initiatives

SAN DIEGO, CA--(Marketwire - May 9, 2008) - In support of rebuilding San Diego after the devastating fires of 2007, the Equastone Foundation, a nonprofit organization dedicated to helping communities, made a contribution of nearly $50,000 to the San Diego Foundation/Interfaith Community Services.

Following the destruction left by the fires and the impact they had on the lives of Equastone employees, the Equastone Foundation set up the "After-the-Fires" Fund -- a fundraising program where Equastone, LLC and many of its business partners contributed almost $50,000 to aid those who were affected by the fires. The San Diego Foundation helped coordinate the fundraising effort and their participation ensures that 100 percent of the donations will go toward assistance. Proceeds from Equastone Foundation's After-the-Fires Fund will be used for housing, transportation, immediate household provisions and other needs of those affected by the fires. The total amount raised has been granted to Interfaith Community Services of North County.

Frank Ault, San Diego Foundation Disaster Board member, said: "The response of the San Diego Community to help our residents who lost their homes or livelihood in the October 2007 wildfires has been tremendous. An excellent example is the donation by Equastone and its employees to the San Diego Foundation's Disaster Board which will help Interfaith Community Services provide assistance to fire victims in northern San Diego County."

"We are humbled by the generosity displayed by our employees, associates, and friends in response to this disaster," said Chad Carpenter, CEO of Equastone. "It is hard to believe that our community could be severely hit by two firestorm disasters within four years. We are proud to be able to actively contribute in the rebuilding efforts of the communities where we live and do business."

About Equastone

Equastone is a leading real estate investment firm specializing in the acquisition and asset management of opportunistic and value-added real estate. Equastone manages investment capital on behalf of Equastone Real Estate Funds, private equity funds for high-net-worth and institutional investors.

Equastone currently owns 61 office buildings encompassing more than 9.3 million square feet throughout the United States and intends to make $1 billion of opportunistic, value-added and distressed debt investments over the next twelve months. For more information about Equastone, call Mykel Sprinkles at (858) 812-3261 or visit www.equastone.com.

Contact Information

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