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Frank Crivello, Phoenix Investors, LLC announces acquisition of Indiana mill by Heritage Structures, Inc.
Milwaukee, Wisconsin --August 25, 2004-- Frank Crivello, Executive Vice President, Phoenix Investors, LLC ("Phoenix Investors"), www.phoenixinv.com, and NNN Group, Inc., www.nnn.net, announced today that Heritage Structures, Inc. ("Heritage"), www.heritagegarages.com, reached a definitive agreement to acquire the plant, equipment, improvements, and land assets formerly owned and operated by Tru-Built Lumber, Inc., ("Tru-Built") Williamsport, Indiana. Crivello Group, LLC, www.crivello.com, agreed to provide financing to Heritage in its purchase from Tru-Built. Before Tru-Built entered bankruptcy and ceased operations, it manufactured prefabricated garages and sold them through a dealer network to homeowners throughout the Midwest.
Phoenix Investors Executive Vice President Frank P. Crivello stated: "This facility will enable Heritage to accelerate its start up plan. We have and will provide financing and strategic consulting services to Heritage."
About NNN Group, Inc., www.nnn.net:
NNN provides Phoenix Investors with real estate management and advisory services.
About Phoenix Investors, LLC, www.phoenixinv.com:
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
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