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Press ReleaseREH Capital Partners, LLC ______________________________________________________________________ News January 11, 2005 FOR FURTHER INFORMATION AT THE FIRM:
FOR IMMEDIATE RELEASE January 11, 2005 REH Capital Partners, LLC Continues Expansion Beyond Hospitality and Completes $54 million Commercial Real Estate Transaction Fort Lauderdale, Florida (January 11, 2005) –REH Capital Partners, LLC, best known nationally as a resort and lodging services provider, announced today the completion of a $54 million acquisition of a three-property shopping center and office building portfolio in Southeast Florida, on behalf of a California investor. This was in keeping with its previously stated plans to continue to expand its services beyond hospitality and into the commercial real estate sector. The acquired properties include: the Plantation Market Place, a 230,000 square foot shopping center located on W. Broward Boulevard just east of University Drive, in Plantation, Florida; the Penn Dutch Plaza, a recently renovated 157,000 square foot shopping center located at the intersection of Highway 441 and Sample Road in Margate, Florida; and the 1900/2000 Building, a 117,000 square foot, 3-building, office complex and adjacent 3-story parking garage located on NW Corporate Boulevard, just off Interstate 95 at Glades Road, in Boca Raton, Florida. According to Frank Nardozza, Chairman of REH and former National Practice Leader of KPMG’s Real Estate and Hospitality Consulting Practice, “We are excited about this transaction because it fits squarely into our business strategy of acting as a “turnkey” outsource service provider to wealthy family estates, trusts, and commercial entities in completing real estate and hospitality transactions”. Added Paul Garity, Executive Director of REH, “In this case we acted as the acquisition arm for this family estate in sourcing and analyzing the properties, supporting negotiations, arranging financing, and procuring services for on-going property leasing and management”. *********** REH Capital Partners, LLC is a national real estate and hospitality investment and advisory services firm headquartered in Fort Lauderdale, Florida with regional offices in Los Angeles, California and Washington D.C. The Firm makes investments directly and on behalf of clients in real estate and hospitality assets and portfolio companies as well as provides strategic investment advice, transactional services, asset management services, and strategic consulting services to a wide range of public and private sector clients.
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