|
Frank Crivello, Managing Member, Eastern Coast Management, LLC Announces Sale of Marina Complex in Little River, South Carolina
Highland Park Real Estate Development Corporation, Oak Brook, Illinois, purchases marina for $4.5M.
Milwaukee, Wisconsin --July 6, 2005-- NNN Group, Inc., www.nnn.net, ("NNN") and Frank Crivello, Managing Member, Eastern Coast Management, LLC ("Eastern Coast"), www.ecmgt.net, announced today that RE Palm Beach Partners, LLC, a limited liability company it owns equally with Robert Weisberg, closed today on the sale of BW Marina, Little River, South Carolina to Highland Park Real Estate Development Corporation for $4.5m. BW Marina is a full service marina. REPB purchased BW Marina and the surrounding properties in late 2003.
Eastern Coast Managing Member Frank P. Crivello stated: “In November, 2003 I negotiated and acquired this marina and the surrounding properties from FEA, LLC on behalf of REPB. At the time these properties were in foreclosure. During REPB’s ownership it made upgrades to the properties and completed new lease agreements. Robert Weisberg procured, negotiated and completed the sale of the marina and the surrounding properties to Highland Park Real Estate Development Corporation.”
About NNN Group, Inc., www.nnn.net :
NNN provides Eastern Coast with real estate management and advisory services.
About Phoenix Investors, LLC, www.phoenixinv.com:
Phoenix Investors provides Phoenix Investors with real estate management and advisory services. Since 1994 Phoenix Investors 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 Phoenix Investors 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 Phoenix Investor's operations or business.
Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com
Back
|
