Joint Venture Acquires Fountain Square II Office Building in Tampa, FL

TAMPA, FL (Jan, 5, 2011) – A joint venture consisting of affiliates of TriGate Capital, LLC, Feldman Equities, Inc., and Tower Realty Partners, Inc. has acquired the 134,065 square-foot Fountain Square II office building (top left photo).

 Tower Realty Partners, Inc. will manage and lease the building.

Fountain Square II is a Class A office building located in the prestigious Fountain Square Office Park, which is located in Tampa's Westshore office market.

The property has nearly immediate access to Veterans Expressway and is less than a five-minute drive from the Tampa International Airport.

Fountain Square I and III, which are adjacent to Fountain Square II, are both entirely leased to JP Morgan Chase under a recently executed 15 year lease.

The office park is a true campus setting with a central lake and extensive landscaping. Fountain Square II features an on-site fitness center and restaurant.

The building has a structured parking garage that provides 100% shaded parking and has a capacity of 4 cars per thousand square feet. Fountain Square II is a modern, architecturally distinctive, crescent shaped building with reflective glass. It is presently approximately 70% leased and occupied.

In October of 2010, the TriGate Capital-led joint venture acquired a first mortgage note that was secured by the Fountain Square II property. The note was subject to a bankruptcy proceeding that had been filed by the previous owner.

Recently, the joint venture obtained title to Fountain Square II through a confirmed bankruptcy plan. The joint venture presently has no debt on the property.

 Ownership is implementing an aggressive leasing program and is well-capitalized to provide for prospective tenants’ construction requirements and brokerage commissions in order to attract credit tenants.

TriGate Capital is a market leading real estate private equity firm focused on quickly and efficiently matching an appropriate capital solution for real estate projects. TriGate Capital manages a fully discretionary real estate fund, TriGate Property Partners, LP, on behalf of institutional investors.

TriGate Capital invests in value added real estate assets and financial restructuring opportunities emanating from changes in the real estate capital markets.

 TriGate Capital is majority owned and controlled by Jay Henry (top right photo), Jon Pettee (middle left photo) and Jeff Yarckin (middle right photo).

Each has over 20 years of experience, including leadership positions at premier investment funds and operating companies, and collectively have been responsible for over $10 billion of real estate investments.

For more information, please go to www.trigatecapital.com

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Tower Realty Partners is an Orlando based commercial real estate owner focusing on value-added opportunities throughout the state of Florida. Tower was formed in 1987 by Cliff Stein (middle left under Jon Pettee photo) and Reid Berman (middle right under Jeff Yarckin photo). Since its inception, Tower has acquired over $1 billion of office properties.

 For more information, please go to http://www.towerrealtypartners.com/

Feldman Equities is the modern business entity that encompasses a century of success in commercial real estate development. In the last 25 years, Larry Feldman (lower left photo)  and his father Ed, have developed or acquired over 11 million square feet of office and retail properties with an aggregate value in excess of $2.5 billion.

.For more information, please go to http://www.feldmanequities.com/

 Contact: Larry Feldman (516) 509-6775

LFeldman@FeldmanEquities.com