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Infinity Completes Acquisition of Daymark Realty Advisors

Aug 10th, 2011

Infinity Urban Century Completes Acquisition of Daymark Realty Advisors, Inc. in Partnership with Sovereign Capital Management Group

New York, NY, August 10, 2011 – Infinity Urban Century, an investment unit of Infinity Real Estate, and Sovereign Capital Management, today announced they have completed the purchase of Daymark Realty Advisors Inc. from Grubb & Ellis Company (NYSE: GBE). With the completion of this acquisition, the strategic joint venture between Sovereign Capital and Infinity Urban Century becomes one of the leading players in the securitized tenant-in-common investment market.

Daymark, which was a wholly owned subsidiary of the Grubb & Ellis Company, became the largest asset management and structured finance provider in this segment of the US commercial property market during the last decade. The company is a fully integrated platform providing acquisition, asset management, structured finance, asset restructuring and recapitalizations. It manages a nationwide portfolio of properties totaling over 33 million square feet, valued at $4.9 billion based on purchase price, and including more than 8,700 residential multifamily units. For more information regarding Daymark Realty Advisors, visit www.DaymarkRealtyAdvisors.com.

Grubb & Ellis Company entered the asset management business as part of the company’s 2007 merger with NNN Realty Advisors, Inc. Daymark was responsible for overseeing management of the entire tenant-in-common portfolio and providing specialized management services to the owners of the tenant-in-common properties. With this disposition that was part of a strategic realignment, Grubb & Ellis Company has fully exited the tenant-in-common business.

Infinity Urban Century and Sovereign Capital will operate Daymark independently, under the direction of a new board of directors and stronger management team. The new ownership group plans to reinvigorate Daymark and accelerate its transformation. “We will be implementing an execution plan focused on stabilizing and recapitalizing properties (with new debt and/or equity). Our goal is to use new capital to create solutions for both long and short-term ownership and exit strategies, while focusing on the needs our existing investor base”, says Etienne Locoh, managing partner of Infinity’s Urban Century investment unit. “Our strategic alliance with Sovereign Capital Management transforms Daymark into a true, best-in-class, distressed asset management platform in the TIC sector, and we plan to grow this business”.

About Infinity Real Estate & the Urban Century Initiative
Infinity Real Estate is a New-York-based private real estate owner, investor, and operator focused on the acquisition, redevelopment, and re-positioning of commercial properties across select U.S. markets along the East Coast, the Mid-West and Central States. Infinity Real Estate is the property acquisitions, development, and management unit, owned and operated by the Infinity Group. The Company currently operates approximately 2 million square feet of commercial properties and development projects in 13 states. Infinity Real Estate’s principals have led or have directly transacted in over $2.5 billion of real estate related investments, representing over 75 asset or project acquisitions or developments, as well as several private corporate deals. The Company has established a strict investment discipline centered on active management of all its projects.

 
Infinity’s Urban Century Initiative is aimed at growing the Company’s presence in key gateway urban markets, and at focusing investment dollars on assets designed and built for today’s urban lifestyle generation. This investment program was born out of the formation of Infinity Urban Century, LLC, a partnership led by Steven J. Kassin and Etienne Locoh as the Managing Partners of Infinity Real Estate. The Urban Century Initiative has become a central part of Infinity’s long range strategic plan.

 
The Urban Century Initiative is designed to expand Infinity Real Estate’s portfolio and market presence over the coming decade, and to transform the Company’s platform and resources to capitalize on what we believe will be the growing dominance of global urban marketplaces. This investment program was developed as a strategic framework for Infinity’s growth, and to help guide the tactical choices along the way. For more information about Infinity Real Estate or the Urban Century Initiative, visit www.Infinity-Group.com.