CALIFORNIA FIRM SELECTS FAMECO FOR NATIONAL ASSET MANAGEMENT

     LOS ANGELES, CA.--SCI Real Estate Investments of Los Angeles has selected Fameco Real Estate as asset manager of Price Plaza, a 270,000 s.f. power center in Houston, Texas, it was announced by Troy Peple, president of Conshohocken, Pa. based Fameco.

     Peple said Price Plaza assignment is indicative of Fameco's growing presence in the national asset management arena. The assignment incorporates the coordination of local property management and leasing, as well as financial, capital and strategic planning. Price Plaza is 100% leased and anchored by Linens N Things, Babies R Us, Best Buy and Ross Dress for Less.

     According to Scott Derrick, Chief Acquisitions Officer at SCI Real Estate Investments, "Fameco's broad industry capabilities made it an extremely attractive organization with which to partner. Their in-depth understanding of the retail market has proven to be so effective that we are working with them nationally to meet both our asset management needs and our due diligence requirements."

      Larry Zipf, Fameco’s Senior Vice President of Owner Services, who will oversee the assignment, noted that the Price Plaza project "is particularly interesting -- and challenging -- because it involves a TIC or tenant in common ownership which can involve up to 35 separate ownership entities. Following specific IRS guidelines, the TIC structure provides an opportunity for these individual, unrelated investors to each own an undivided interest in a property. The TIC investors are not involved in the day to day management of the property; however, through their pooled resources they can purchase institutional quality property that would not be affordable otherwise."

     Fameco Real Estate specializes in tenant representation, owner representation, investment sales and property management in Pennsylvania, New Jersey and Delaware. The firm, which also has offices in Princeton, N.J., and Allentown, Pa., is the exclusive representative for 64 shopping centers and retail properties totaling 12 million square feet in the tri-state area, manages more than 4 million square feet of retail space and exclusively represents more than 45 retailers expanding in the Delaware Valley. Fameco's Investment Sales Team has sold shopping centers worth more than $1 billion. Fameco is the ChainLinks member shareholder in the Delaware Valley. The nation's largest retail-only real estate provider, ChainLinks encompasses 60 regional brokerage firms in the U.S. and Canada.

Dec 1, 2005