ECRV Press Releases

East Coast Realty Ventures LLC Announces the Closing of Its Second 1031 TIC Private Placement for $17,985,000.

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ROCKVILLE, MD -- (MARKET WIRE) -- 03/23/2006 -- East Coast Realty Ventures,LLC is pleased to announce the closing of its second 1031 TIC private placement for $17,985,000, having secured financing from SunTrust Bank for $12,375,000.

The Property, Eagle Pinnacle Medical Complex, located in Stockbridge, Georgia, consists of two Class-A medical office properties. The offering was sold out in 72 hours and was acquired by 16 accredited investors. 

 

Management believes this was the preferred type of product to bring to market for the following reasons, to-wit:  Eagle Pinnacle is in the fast-growing, stable community of Stockbridge, Georgia, rapidly becoming a premier suburb of Atlanta due to Interstate highway improvements and the doubling of the adjacent Henry Medical Center, a major medical hospital campus/institution with 215 beds.  The Eagle Pinnacle Medical Complex is situated on 7.6 acres and was constructed in 2002 and 2004, respectively. This Class-A Medical Office Complex consists of 91,000 gross square feet. 

 


The Eagle Pinnacle Medical Complex provides its physicians close proximity to new area facilities, such as: Walgreens; Publix; Wal-Mart; Starbucks; KFC; and, hundreds of thousands of square feet of restaurants and inline retail shopping currently under construction or recently completed. Major tenants include Heritage Bank; Nanston, Inc. (Dental Clinics); Southern Heart Specialists, P. C.; Tri-County Pediatrics; Davis Development; and, a Who’s Who of leading physicians requiring immediate hospital access. Management believes this should prove to be a very secure and reliable investment. The Eagle Pinnacle Medical Complex is professionally managed with institutional-like care providing an excellent work environment.

 


ECRV plans to focus its efforts on small to mid-size commercial properties on the east coast and mid-Atlantic region.  Target markets will include properties in the $7,000,000 to $20,000,000 price range offering a high probability of providing competitive returns.

A primary goal of ECRV is to become the lowest cost provider (minimizing sponsor fees) to insure the highest possible returns to our investors. ECRV will continue its standing policy of providing brokers and investors alike with reliable, accurate information.