Sherwin-Williams And Pinnacle Form Exclusive Supply Agreement For Multifamily Properties

Agreement Teams Up Two Major Players in the Nation's Multifamily Housing Market

CLEVELAND (August 19, 2009) — Sherwin-Williams, a single-source supplier of products to the multifamily housing market, and Pinnacle, the nation's leader in multifamily housing management, have formed an exclusive multi-year supply agreement. Under the agreement, Pinnacle's comprehensive portfolio of properties will directly source and consolidate orders for paints, equipment, supplies and wallcoverings from Sherwin-Williams.

The supply agreement teams up two major players in the multifamily housing market.                Sherwin-Williams is North America’s largest single-source supplier of high-quality paints, stains, masonry coatings and brand-name wall and floor coverings, with a network of more than 3,330 stores and 1,600 representatives available to deliver innovative products, local service and expert advice. Seattle-based Pinnacle is currently ranked as the largest multifamily management company by the National Multi Housing Council, and manages in excess of 185,000 residential multifamily units nationwide.

"This new agreement is part of our strategy to align Pinnacle with the largest and most respected suppliers in the multifamily housing industry. Sherwin-Williams is an ideal partner in this regard, providing a customized, single-source supply solution that will ultimately help us provide the greatest value for our ownership groups, and will also give us a competitive edge on what we offer to new clients," said Ed Wolff, Pinnacle chief administrative officer.

The two companies are well-matched, according to Bill Rafie, Sherwin-Williams national director of multifamily. "Sherwin-Williams has the services and solutions to help multifamily property managers keep their sites profitable and assure complete consistency of products, colors, pricing and procedures from coast to coast. Our products, stores and distribution are ideally suited to Pinnacle's vast property management portfolio. We look forward to working with Pinnacle to achieve its long- and short-term goals."

Sherwin-Williams national account partnerships are designed to help multifamily management companies and group purchasing organizations maximize efficiencies and achieve higher net operating income. Long-term agreements can help standardize purchases and stabilize costs. At the same time, Sherwin-Williams can create product specifications, customize on-site training and simplify supplier transitions.

Ask Sherwin-Williams
For over 140 years, Sherwin-Williams has satisfied the coating and color needs of builders, designers, specifiers, property managers and contractors. Sherwin-Williams provides fast, flexible, responsive local service and personalized, expert advice. More than 3,300 stores and 1,600 sales representatives make Sherwin-Williams North America’s largest single-source supplier of high-quality paints, stains, masonry coatings and brand-name wall and floor coverings. Visit sherwin-williams.com. For green solutions, visit swgreenspecs.com.

About Pinnacle
Pinnacle, An American Management Services Company, is the nation’s leader in third-party fee management, managing a portfolio of apartment, office and industrial assets valued at more than $18 billion, with over 5,000 employees in 42 states. Pinnacle’s multifamily portfolio consists of over 185,000 units including military and affordable housing communities. The company provides owners and investors with a broad scope of services including acquisition, disposition, rehabilitation, property management, leasing, financing, homeowner association management, and repositioning of real estate assets. The firm’s clients include more than 235 institutions, pension funds, private partnerships, foreign investors, sole owners and government housing groups in North America, China and Japan. For more information, visit www.PinnacleAMS.com.

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