Real Estate Slump and Mortgage Mess Creates Greatest Investor Opportunities in a Generation

CHARLOTTE, N.C. (BusinessWire EON) August 23, 2007 -- "Only fools expect that they can hop on the MLS or deal with a real estate agent and stumble on the right opportunity in the right area. It's still very possible to lose money by owning the wrong product in the wrong pocket of any area, even the super strong Charlotte area" says Dennis Keefe, long time investor from Alameda, California, himself a realtor. "It's incredible how many people buy crap thinking they are getting a deal based on comps and pro forma rents. Convergent knows how to develop or acquire just the right brand new stuff in just the right neighborhoods for maximum results" he enthuses. "My family and I have bought eleven properties from Convergent. We couldn't be happier and I'll continue actively referring investors to them. I expect they will be our vendor of choice for the next ten to twenty years."

Convergent, a research powerhouse, concentrates its developments in Charlotte for many reasons: the super strong diverse economy, the growing demographics in all the right sectors: affluent retires, knowledge workers, creative class, and middle and upper middle class relocations from other parts of the country fuel one of the most rapid population growth patterns in the nation. North Carolina has just passed New Jersey in population, and Charlotte is its hub.

"We feel it is a mistake for investors not to consider the ballast that large cities offer to real estate values. Charlotte is not only among the top one two or three in economic strength of the 269 largest cities in the country every year according to Policom studies, it is the only city with a MSA of over one million people predicted by every credible demographic study (including the Charlotte Chamber of Commerce and the US Census Bureau) to virtually triple in size in just the next twenty years. You don't have to be a Wharton School of Business graduate to figure out what that kind of growth means to real estate values" says Nick Sabardin, president of Convergent and a graduate of the prestigious Sorbonne University in France and a San Jose MBA.

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About the Company:

Convergent Acquisitions & Development, Inc is a leading vendor and developer of real estate especially focused on serving the non-owner occupied or "real estate investor" market. Founded around a team of real estate professionals with in-depth knowledge of the market and a wealth of experience, Convergent Acquisitions and Development, Inc provides single family homes in emerging markets well poised for income and appreciation potential.

Convergent president Nick Sabardin, BS, MBA, graduated from the prestigious Sorbonne University in Paris, France, before spending several years as a business consultant to some of France's largest corporations. He completed his education by earning his MBA at San Jose State University in Silicon Valley, with an emphasis on technology and marketing. He flew as a commercial airline pilot under US Airways' colors for five years after graduation, and fell in love with the Charlotte area, a US Airways hub. He is a long time experienced real estate investor. http://www.convergentacquisitions.com