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WexTrust Capital Acquires Nine Office Buildings in Montgomery Alabama
Class A Business Park Strategically Situated in the Path of Montgomery's Eastward Suburban Expansion
| Source: WexTrust Capital, LLC
CHICAGO, IL -- (MARKET WIRE) -- November 13, 2006 -- WexTrust Capital, through its affiliate
Interstate Park Holdings, LLC, has acquired nine office buildings in a
class A business park located in Montgomery, Alabama for an undisclosed
price. The nine properties acquired by Interstate Park Holdings, LLC
consist of one four-story, one three-story, five two-story, and two
one-story office buildings, with a total of 270,000 rentable square feet
which is currently leased to 72 tenants.
Situated on approximately 28 acres in a planned business park renamed as
"Colonial Park" three years ago, the office buildings offer convenient
access to I-85 and US 80 which is Montgomery's Eastern Bypass that provides
access to downtown Montgomery, surrounding suburbs, and Atlanta, 160 miles
to the east. Strategically occupying the northeast quadrant of the highly
visible interexchange of I-85 and Perry Hill Road, the business park is
also positioned directly in the path of Montgomery's eastward suburban
expansion.
Mike Gorney, Principal of WexTrust Equity Partners, a division of WexTrust
Capital, commented, "We are pleased to have completed the acquisition of
these properties as we feel they represent some of the most attractive
space in the Montgomery area. Moving forward the business park will take
back its original development name, 'Interstate Park.'"
Montgomery, the capital city of Alabama, is the second largest city in the
state and over 366,000 people live in the four-county Montgomery
metropolitan area. Montgomery is also home to Alabama state and regional
governments, a new $1.1 billion Hyundai plant, and Maxwell Airforce
Base-Gunter Annex which is a major military installation and the largest
employer in the area. The metropolitan area also includes an extensive
service industry, wholesale and retail trade, and an industrial base, all
providing a well-balanced economic environment.
"Additionally," concluded Gorney, "the park enjoys a very strong tenant
roster including a mix of U.S. government contractors and major financial
services companies with no single tenant comprising more than ten percent
of the space."
About WexTrust Capital
WexTrust Capital is a globally diversified private equity and specialty
finance company with a proven track record for protecting its clients'
assets and delivering a superior return-on-investment through its diverse
portfolio of principal investments. WexTrust Capital specializes in unique
investment opportunities ranging from real estate to specialty finance and
investment banking. Headquartered in Chicago, the company also maintains
offices in New York, Norfolk, Va., Atlanta, Boca Raton, Fla., Nashville,
Tenn., Tel Aviv, Israel, and Johannesburg, South Africa. More information
can be found at www.wextrust.com.