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SCI Real Estate Investments and 10 Tenant-In-Common 1031 Exchange Investors Acquire a $15,093,750 Retail Shopping Center in Miami, Florida

Posted on: Thursday, 23 September 2004, 06:00 CDT

SCI Real Estate Investments is pleased to announce the acquisition of the "University Marketplace" shopping center property located in Pembroke Pines (Miami), Florida. SCI's Senior Vice President, Acquisitions Scott Derrick represented the buyers, and Anthony Blanco & Casey Rosen of Black Rock Realty represented the seller.

SCI acquired the property with 10 other tenant-in-common investors who are completing 1031 exchanges, and with SCI's private investor group. SCI is one of the nation's largest 1031 investment sponsors.

Marc Paul, SCI President, said, "This year, SCI has acquired five multi-family properties in south Florida, Ft. Myers, and in Orlando -- over 1,600 units total. We believe these areas to be among the strongest in the nation. To complement and diversify our Florida portfolio, we have acquired this retail center, and plan to acquire more retail centers in the very near future.

All our Florida properties experienced minimal or no damage during the recent hurricanes, and we are pleased with their financial performance."

About SCI

SCI has been in business since 1994, and has a portfolio valued at $470+ million. SCI corporate offices are located in West Los Angeles, CA. SCI specializes in TIC investments with 1031 exchange investors, and works closely with commercial brokers, developers and joint venture partners to identify quality retail, office & multi-family properties nationwide.

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