|
Eastern Coast Management, LLC and Frank Crivello Announces Land Disposition, Riviera Beach, Florida
Properties located at center of massive re-development project.
Milwaukee, Wisconsin --June 9, 2005--
NNN Group, Inc., www.nnn.net , ("NNN")
and Frank Crivello, Managing Member, Eastern
Coast Management, LLC ("ECM"),
www.ecmgt.net, announced that ECM has decided to
divest of its three multi-family properties
located on the new Boulevard entering Riviera
Beach Marina, Riviera Beach, Florida. ECM will
solicit bids from local investors and
developers.
ECM Managing Member Frank P. Crivello stated:
"We acquired this land near the center of
the massive redevelopment project for the City
of Riviera Beach, Florida a little over a year
ago. Our attempts to acquire abutting land were
unsuccessful. Given the relative lack of scale
to this prospective development, we have
concluded the project doesn't justify the time
and effort the development of it will
require."
ECM Executive Vice President Frank Orlando
stated: "We already have received
unsolicited proposals for the land. Now that we
have made the decision to sell the properties,
we expect to place it under contract by July 15,
2005."
About NNN Group, Inc., www.nnn.net:
NNN provides PI with real estate management
and advisory services.
About Phoenix Investors, LLC, www.phoenixinv.com:
Since 1994 PI has been offering professional
management and advisory solutions to public and
private companies, trusts, and individual
investors. Our management endeavors to
understand our clients' individual needs, work
with our client to assess specific goals, and
structure investments according to our clients'
specific risk/reward profile to meet both the
clients' short term and long term needs. Our
real estate management team professionally
manages our portfolio properties through a
combination of local and national representation
in order to effectively create a
"working-bridge" between owner and
tenant, building a cooperative mutually
beneficial working relationship. Our experts
assess and refine our client's portfolio's to
maximize our clients cash flow, equity
accumulation, and internal rate of return based
upon our clients' specific dynamic goals.
Safe Harbor Statement Under the Private
Securities Litigation Act of 1995 - With the
exception of historical information, the matters
discussed in this press release are
forward-looking statements that involve a number
of risks and uncertainties. The actual future
results of the PI could differ significantly
from those statements. Factors that could cause
or contribute to such differences include, but
are not limited to assumptions relating to the
marine market and that there will be no
unanticipated material adverse change in PI's
operations or business.
Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com
back |
©
2004 Phoenix Investors, LLC