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American Recovery Property Trust Announces the Successful Acquisition of Western Place I & II

Sep 5th, 2012

Business Wire, San Diego, CA, Sep 05, 2012 – The American Recovery Property Trust (“ARPT”), a newly formed company that intends to qualify as a REIT, announced today its first real estate acquisition – Western Place I & II, a 425,000 square-foot, two-building office complex located in Fort Worth, Texas. The real estate transaction closed on June 15, 2012 at a purchase price of $34,000,000.

The two ten-story buildings that comprise Western Place are the home to reputable tenants such as Lockheed Martin, BAE Information Systems, APEX Capital Corporation and Computer Science Corporation.

“We are very excited to have closed on our first real estate acquisition,” says Todd A. Mikles, president and CEO of American Recovery Property Trust. “ARPT has gone from the drawing board to reality.” Mr. Mikles notes that, “ARPT was created to help property owners (including tenants-in-common) restructure their real estate and preserve their tax status, while combining their remaining equity in a diversified REIT.”

About American Recovery Property Trust

American Recovery Property Trust was launched by joint-venture partners Sovereign Capital Management Group and Infinity Urban Century, an affiliate of the Infinity Group, for the purpose of acquiring individual tenant in common real estate interests in commercial real estate properties. For more information about the acquisition of Western Place, contact Jennifer Cho at (619) 231-4210 or jcho@AmericanRecoveryPT.com.

 
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.