Properties located at center of massive re-development project.
Cape Canaveral, Florida – September 15,
2005— NNN Group, Inc., www.nnn.net, ("NNN")
and Frank Crivello, Managing Member, Eastern
Coast Management, LLC ("ECM"), www.ecmgt.net,
announced that ECM sold to Riviera Beach
Equities, LLC its three multi-family properties
located on the new Boulevard entering Riviera
Beach Marina, Riviera Beach, Florida.
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.
As Riviera Beach has now hired a master
developer, investor interest in the area is
high. Our affiliate has additional land nearby
we will sell as well."
ECM Executive Vice President Frank J Orlando
stated: "We received several unsolicited
proposals for the land. Riviera Beach Equities,
LLC stepped up and moved quickly to close the
transaction. We wish them well."
About NNN Group, Inc.,
www.nnn.net: NNN provides ECM with real
estate management and advisory services.
About Eastern Coast Management, LLC
www.ecmgt.net:
ECM is focused on real estate and marine
investments in the southeastern United States.
For approximately twenty five years, as
principals, ECM's team has been involved in all
facets of real estate development,
rehabilitation, and investments. In addition,
ECM's team has offered professional management
and advisory solutions to public and private
companies, trusts, and individual investors. For
approximately six years, as advisors or
principals, ECM's team has been involved in
marine investments of various types.
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 ECM 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 ECM's
operations or business.
Contact:
New-School Communications, Inc.
Blois Olson, 651-221-1999
www.new-school.com