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Phoenix Investors, LLC Announces Purchase of BlueCross-BlueShield Regional Processing Center, Witchita Falls, Texas
Wichita Falls Investors, LLC purchases commercial complex anchored by BlueCross-BlueShield of Texas, Inc.
Milwaukee, Wisconsin --November 5, 1999--
Frank Crivello, Executive
Vice President, Phoenix Investors, LLC
("PI"), www.phoenixinv.com announced
that Wichita Falls Investors, LLC, its
affiliate, purchased the commercial complex at
2215 Southwest Parkway, Wichita Falls, Texas
owned by A.W.E. Company, LLC, an affiliate of
TSM Companies, a German holding company, that
has sold other commercial real estate to PI's
affiliates. This commercial complex is now
anchored by BlueCross-BlueShield of Texas, Inc.,
www.bcbstx.com.
PI Executive Vice President
Frank P. Crivello stated: "This former
shopping center was successfully converted from
a retail warehouse grocery store use to a
BlueCross-BlueShield's regional data processing
center. It was a creative re-use of retail
property. We are pursuing similar opportunities
across the United States."
PI Managing Director David
Marks stated: "Our management team sees
great potential in regards to acquisitions of
this type. Last year we completed a large
transaction with this seller of a
multi-location[DM1] portfolio of Furr's
Supermarkets in Texas and New Mexico. We are
exploring other real estate opportunities
involving the re-use of retail assets for health
care companies."
About Phoenix Investors, LLC, www.phoenixinv.com:
PI provides PI with real estate management and advisory services. 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.
[DM1]We didn't buy all of their Furr's
properties., LLC
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©
2004 Phoenix Investors, LLC