news release

Sawyer Realty Holdings Selects PropertyBridge to Process Electronic Rent Payments

Oakland, CA – September 26, 2006 - PropertyBridge, Inc., the leading payment services provider in the multifamily housing industry, today announced that it has been selected by Sawyer Realty Holdings LLC to provide automated payment services for residents of its portfolio of communities. Headquartered in Needham, Massachusetts, Sawyer Realty Holdings is one of the nation’s leading owners and managers of multifamily real estate properties with over 35,000 units.

Sawyer will add credit cards to the payment options offered to residents at its 120+ apartment communities through the PropertyBridge Payments Platform™. Using credit cards to pay rent is a popular amenity that allows Sawyer residents to earn points or miles when they pay their rent. All payment data is integrated with Sawyer’s property management software provided by Jenark Business Systems, Inc. Realizing the significant business benefits of a streamlined electronic payments approach, Sawyer also chose to absorb the credit card transaction fees.

 “We hope to fully leverage PropertyBridge’s payments platform to automate many processes that have formerly been primarily manual," stated Kevin Kordon, Director of Business Process at Sawyer Realty Holdings. “PropertyBridge has freed up our community managers to focus more on sales and management, and less on the time-consuming tasks associated with collecting rent. We looked for a payments solution that was not only compliant and secure, but that was flexible enough to integrate with our Jenark and Association Voice software. PropertyBridge was the only solution to meet these requirements.”

PropertyBridge President Jason Gardner stated, “Sawyer’s varied communities and requirements demand a payments infrastructure that is flexible and customizable. Our strengths in tailoring payment types and processes are being intelligently utilized by Sawyer as it continues to expand its portfolio throughout its core markets in the East and South East. We are very excited that Sawyer has standardized on PropertyBridge.”

The PropertyBridge Payments Platform™ processes the largest dollar volume of automated electronic payments in the multifamily housing industry. PropertyBridge enables residents to pay rent and other lease-related transactions using any of seven payment types including payment cards (credit and debit), ACH and e-checks.

About Sawyer Realty Holdings

Sawyer Realty Holdings (www.sawyerapts.com) is a privately held real estate investment and management firm founded in 1993. The company owns and manages a rapidly expanding portfolio of multifamily apartment communities located in the eastern United States. The company is headquartered in Needham, Massachusetts with offices in College Park, Maryland and Atlanta, Georgia. Presently under management are over 120 apartment communities, containing more than 35,000 units.

About PropertyBridge, Inc.

PropertyBridge is the leading provider of automated payment processing services to real estate owners and managers. The PropertyBridge Payments Platform enables residents to pay rent and other lease-related transactions using an array of payment types, including credit and debit cards, Automated Clearing House (ACH), check scanning (Check 21/ARC), online bank bill payment, person-to-person payment and lockbox services. PropertyBridge provides management firms with a previously unattainable level of integration and administrative efficiency in key areas of their business. The company collaborates extensively with financial services leaders including Visa USA, MasterCard, Discover Financial Services, American Express, Wells Fargo Bank and First National Bank of Omaha.

Contacts

Peter Mansfield
Vice President of Marketing
pmansfield@propertybridge.com