Berkshire Income Realty, Inc. (NYSE MKT: BIR.PR.A), (NYSE MKT: BIR_PA), (NYSE MKT: BIRPRA), (NYSE MKT: BIR-A), (NYSE MKT: BIR.A), (NYSE MKT: BIR/PRA) (the “Company”) announced that it has named a new President and Chairman, expanded its Board to seven seats, and appointed additional Directors.

Chuck Leitner was named President and Chairman of the Board of Directors of Berkshire Income Realty, Inc., effective May 6, 2014. In his role as Chairman, he replaces Douglas Krupp, who is no longer serving as a member of the Board. As President, Mr. Leitner replaces David C. Quade. Mr. Leitner has been President of Berkshire Group, an affiliate of the Company, since October 2013. Mr. Quade, while no longer serving on the Board, will remain with the Company as Executive Vice President and will focus on other areas of Berkshire Group.

The Company also announced the expansion of its Board, adding two seats, bringing to seven its total number of Directors. In addition to Mr. Leitner, the Company announced the appointment of Matthew Hills, Richard Krupp and Michael Krupp to the Company’s Board of Directors.

“The naming of Chuck as President and Chairman, the expansion of the Board, and the appointment of Matt, Michael and Richard as Directors all demonstrate our commitment to continuing our legacy of solid stewardship,” said Douglas Krupp, former Chairman of the Board of Directors of the Company. “In Chuck, we have an experienced chief executive with a deep understanding of our market and industry. Matt brings a wealth of experience developing and executing growth strategies. And both Richard and Michael represent the next generation of the Krupp family interest in the Company. I am pleased to welcome them all to the Board.”

“Our primary business objective has always been to deliver strong, consistent returns, while enhancing the long-term growth in value of our real estate portfolio,” said Mr. Leitner. “I look forward to working with both the Board and the rest of the executive team to ensure that we continue carrying out this objective on behalf of our shareholders.”

Chuck Leitner is currently President of Berkshire Group, responsible for overseeing Berkshire’s operations and investment activity. Mr. Leitner most recently served as Chairman and CEO of the ULI Greenprint Center for Building Performance, and as a member of the advisory board for SVP Global. Prior to Greenprint and SVP, Mr. Leitner spent 24 years at RREEF, a global real estate investment management business and a division of Deutsche Asset Management, where he held roles including Global Head and Chief Executive of RREEF. Prior to RREEF, Mr. Leitner held positions with GE Capital and TIAA-CREF. He holds a BA from the University of Pennsylvania.

Matthew Hills is Managing Director of LLM Capital Partners, where he is responsible for sourcing and closing investments, and working with leadership teams of portfolio companies to develop and execute growth strategies. Prior to joining LLM in 2007, Mr. Hills was with Signature Capital from 2005 to 2006. He was previously Senior Partner of BG Affiliates, the private equity group within Berkshire Group, and the Chief Planning Officer of Berkshire Group. He also has held managerial and consultant positions with The LEK Partnership, Drexel Burnham Lambert, and Bain & Company. He holds an MBA from Harvard Business School and a BA from Brandeis University.

Richard Krupp is Co-Founder and Managing Partner of Pierpoint Capital, a New York City-based growth equity firm. He has over a decade of investment and portfolio management experience. Prior to Pierpoint, Mr. Krupp was a Senior Acquisitions Associate at Berkshire Property Advisors where he was responsible for executing investments in multifamily mortgage pools. He has also held roles at Berkshire Asset Management and American Property Financing. Mr. Krupp holds a BA from Boston University.

Michael Krupp is Co-Owner of Area Four restaurants in the Boston area and has experience in the restaurant, retail, and real estate industries. Prior to Area Four, Mr. Krupp was proprietor of the acclaimed The Achilles Project/Persephone, one of Boston’s only mixed-use retail and restaurant spaces, and was also formerly an Acquisitions Analyst for Berkshire Property Advisors. He also has held positions at KTR Newmark and Metropolitan Valuation Services. Mr. Krupp holds an undergraduate degree from Boston University.

About Berkshire Income Realty, Inc.

Berkshire Income Realty, Inc., is a real estate investment trust with the objective to acquire, own, operate, develop and rehabilitate multifamily apartment communities. The Company owns interests in twenty-one multifamily apartment communities and two multifamily development projects, of which six are located in the Baltimore/Washington, D.C. metropolitan area; four are located in Dallas, Texas; three are located in Virginia; two are located in Houston, Texas; two in Atlanta, Georgia; and one is located in each of Austin, Texas; Sherwood, Oregon; Tampa, Florida; Philadelphia, Pennsylvania; Walnut Creek, California; and Denver, Colorado. The Company also owns interests in two unconsolidated multifamily entities. For more information on Berkshire Income Realty, Inc., please visit berkshireincomerealty.com.

Safe Harbor Statement

This press release may contain “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, about the Company. These statements involve a number of risks and uncertainties that could materially affect future results. Among these risk factors are the ones listed in the Company’s periodic reports filed with the Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013.