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Frank Crivello, Managing Member, Eastern Coast Management Announces Sale of multi-family properties in Riviera Beach, Florida
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 ("Eastern Coast"), www.ecmgt.net, announced that Eastern Coast sold to Riviera Beach Equities, LLC its three multi-family properties located on the new Boulevard entering Riviera Beach Marina, Riviera Beach, Florida.
Eastern Coast 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."
Eastern Coast 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 Eastern Coast with real estate management and advisory services.
About Eastern Coast Management, LLC www.ecmgt.net:
Eastern Coast is focused on real estate and marine investments in the southeastern United States. For approximately twenty five years, as principals, Eastern Coast's team has been involved in all facets of real estate development, rehabilitation, and investments. In addition, Eastern Coast'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, Eastern Coast'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 Eastern Coast 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 Eastern Coast's operations or business.
Contact:
New-School Communications, Inc.
Blois Olson, 651-221-1999
www.new-school.com
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