Kewaunee Investors, LLC purchased properties from Meed Development Corporation.
Milwaukee, Wisconsin (PRWEB)--December 5, 2001--Frank Crivello, Executive Vice President, Phoenix Investors, LLC (PI"), www.phoenixinv.com, announced Kewaunee Investors, LLC, PIs affiliate, (Kewaunee") purchased from Meed Development Corporation the former Marquette Middle School.
The Marquette Middle School was originally constructed in 1915 which consisted of a three story building containing classrooms, a gymnasium, rest rooms and mechanical spaces totaling approximately 72,000 square feet. A complete renovation of the existing building was undertaken in 1975. The site contains approximately 6 acres of land located directly on Hwy 42, with an eastern view overlooking Lake Michigan. The building, the centerpiece of the Marquette Historic District, is immediately surrounded by single family residential units and historic bed & breakfast lodging.
PI Executive Vice President Frank P. Crivello stated: We have had success in changing the use of properties whose use became obsolete. We are considering a number of possibilities including the conversion of Marquette Middle School to residential or office use."
PI Managing Director David Marks stated: "Our management team is excited by this acquisition and looks forward to creating an alternative use for this historic and unique property."
About Phoenix Investors, LLC www.phoenixinv.com:
PI provides PI with real estate management and advisory services. Since 1994 PI has been offering professional management and advisory solutions to public and private companies, trusts, and individual investors. Our management endeavors to understand our clients individual needs, work with our client to assess specific goals, and structure investments according to our clients specific risk/reward profile to meet both the clients short term and long term needs. Our real estate management team professionally manages our portfolio properties through a combination of local and national representation in order to effectively create a "working-bridge" between owner and tenant, building a cooperative mutually beneficial working relationship. Our experts assess and refine our client's portfolio's to maximize our clients cash flow, equity accumulation, and internal rate of return based upon our clients specific dynamic goals.
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the PI could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to assumptions relating to the marine market and that there will be no unanticipated material adverse change in PI's operations or business.
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