Contact Information: Media Contacts: David Gutierrez Dresner PR for WexTrust Capital 312-780-7204 dgutierrez@dresnerco.com Douglass Johnson CB Richard Ellis 615-248-1152 dsjohnson@cbre.com Deborah Varallo Varallo Public Relations for CB Richard Ellis 615-367-5200 varallo@varallopr.com
WexTrust Capital Announces Sale of Birmingham Alabama Manufacturing Facility
CB Richard Ellis Represents WexTrust Capital in the Sale
| Source: WexTrust Capital
NASHVILLE, TN--(Marketwire - January 22, 2008) - WexTrust Capital, a global private equity and
specialty finance company announced today that it has sold a 294,000 square
feet class A, bulk distribution and light manufacturing facility in
Birmingham, Ala. for $14,400,000 to an undisclosed buyer.
Located in the Jefferson Metropolitan Industrial Park just off of
Interstate 20 in close proximity to the Mercedes-Benz Assembly Plant in
Vance, Ala., the property is 100 percent leased to Plastech Romulus, Inc.,
a designer and manufacturer of plastic injection molded automotive
components. The property features 30 feet clear height, tilt-wall
construction, an ESFR sprinkler system and parking for 250 automobiles.
"This state-of-the-art facility leased to Plastech Engineered Products,
offers a great location in close proximity to several of Alabama's
automotive plants including Mercedes in Vance, Honda in Lincoln, Hyundai in
Montgomery, Toyota in Huntsville and GM in Athens," said Mike Gorney,
principal of WexTrust Equity Partners, a subsidiary of WexTrust Capital.
"We are very pleased with our investment in this facility since acquiring
the property in 2003. I'd like to thank Don Albright and Douglass Johnson
of CB Richard Ellis in the sale of this property."
WexTrust Capital's other holdings in Alabama include nine office buildings
in a class A business park in Montgomery, Ala. In addition to Alabama
properties, WexTrust continues to expand its presence in the southeastern
U.S. with recent acquisitions in Tennessee and Louisiana.
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.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE : CBG ), an S&P 500 company headquartered
in Los Angeles, is the world's largest commercial real estate services firm
(in terms of 2006 revenue). With over 24,000 employees, the Company serves
real estate owners, investors and occupiers through more than 300 offices
worldwide (excluding affiliate and partner offices). CB Richard Ellis
offers strategic advice and execution for property sales and leasing;
corporate services; property, facilities and project management; mortgage
banking; appraisal and valuation; development services; investment
management; and research and consulting. In 2007, BusinessWeek named CB
Richard Ellis one of the 50 "best in class" companies across all
industries. Please visit our Web site at www.cbre.com.