Royal Neighbors announces sale of Grandview Terrace

8/14/2006

(Rock Island, IL)—Royal Neighbors of America has announced the sale of Grandview Terrace, Davenport, the site of its former retirement home. The approximately 77-acre property was purchased by an organization known as Grandview Estates, LLC, an investment group from the Baltimore, MD, metropolitan area.

According to Managing Member Robert N. Hockaday, Jr., the investment group owns several properties in the area. "We think the Midwest has outstanding potential for growth. The quality of life is excellent and the people are warm and friendly."

The buyers have not made a decision regarding the ultimate use for the property. "We are analyzing all the possibilities for the site and for the potential renovation of the home itself," said Mr. Hockaday. "It's a beautiful location and offers a wide variety of opportunities for development. We're open to exploring all available avenues."

The 73-year-old retirement facility was closed in 2004, and the contents of the building were sold at an auction held on the property in May.

"We anticipate that Grandview Estates, LLC, will be a 'good neighbor' as it designs plans for this location," said Cynthia Tidwell, Royal Neighbors President/CEO. "The group has a fine reputation for developing quality properties."

In addition to offering valuable member benefits such as scholarships, disaster aid, and a variety of volunteer opportunities within communities across the nation, Royal Neighbors of America also provides insurance products and services to meet the financial needs of today's women and their families.

Headquartered in Rock Island, Royal Neighbors serves more than 232,000 insurance certificateholders, has $2.3 billion of insurance in force, and is licensed to do business in 41 states and the District of Columbia. Its members can participate in a variety of community-based volunteer activities through several hundred chapters across the nation.

For more information about Royal Neighbors of America, call (800) 627-4762, or visit the Web site at www.royalneighbors.org.