News

CAM Core+ Fund 1 LLC Completes Sale of Philadelphia Industrial Property  
Philadelphia, Pennsylvania (Septmber 25, 2007)
 
CAM Core+ Fund 1 LLC, a private real estate  investment fund based in Los Angeles, has sold 2250 Cabot Boulevard, an industrial building located in the Bucks County submarket of Philadelphia, for  approximately $76 per square foot.  The sale closed on September 25, 2007 to a Philadelphia-based private investor. 
 
2250 Cabot was acquired by Cohen Asset Management, Inc. on behalf of the CAM Core+ Fund 1 LLC in May 2007 as part of a portfolio acquisition containing  14 industrial buildings and developable land located in the greater Philadelphia and Allentown, Pennsylvania markets. Upon acquisition the building was 100% occupied by Bucks County Coffee.
 
Included in Cohen Asset Management’s investment strategy in acquiring the portfolio was to monitor capital demand for individual buildings by users and investors and complete a sale on an opportunistic basis to maximize returns on each investment and lower the basis in the portfolio.  In agreeing to sell the asset consideration was given to the premium price offered, instability and near-term rollover of the property’s single tenant, and upcoming capital improvement dollars anticipated by the pending lease expiration.  Executing opportunistic sales of individual buildings in the portfolio at premium pricing is indicative of the value-add potential that the CAM Core+ Fund 1 LLC perceived at acquisition as the previous institutional owner was unwilling to dispose of assets on an individual basis. 
 
About Cohen
Cohen Asset Management, Inc., ("CAM"), is a private real estate investment firm. The firm's relationships extend to high net worth individuals, institutional investors and domestic business entities. Cohen Asset Management, Inc. is an active operator and investor of real estate assets and has a well-established reputation as a value added investor focusing on real estate opportunities that are inefficiently priced due to a variety of circumstances such as vacancies, rollover risk, sub-optimal management, inefficient current use, deferred maintenance, long-term undervalued leases or other unfavorable property and market conditions.
 
Forward looking Statement
Except for the historical facts, the statements in this press release regarding Cohen’s business activities are forward-looking statements based on the beliefs of, assumptions made by, and information currently available to us about known and unknown risks, trends, uncertainties and factors that are beyond our control or ability to predict.  Although we believe that our assumptions are reasonable, they are not guarantees of future performance and some will inevitably prove to be incorrect.  As a result, our actual future results can be expected to differ from our expectations, and those differences may be material.  Accordingly, investors should use caution in relying on past forward-looking statements to anticipate future results or trends.  Except as required by law, we assume no obligation to update any such forward-looking statements.