04.02.07
AMC Delancey Group Sheds Asset with Sale of Cedar Run Corporate Center
Over $9 Million Sale Continues AMC Delancey Group’s Transition from Owner/Operator to Equity Partner

Contact
Michael J. LaCosta, Vice President
Beckerman Public Relations
(908) 781-6420, michaelj@beckermanpr.com

PHILADELPHIA (April 2, 2007) – AMC Delancey Group, Inc., a Philadelphia-based, leading national real estate investment and development firm, today announced that it has sold its Cedar Run Corporate Center office building to Cherry Hill, N.J.-based SJS Realty Management, Inc. for $9.45 million. The sale is part of AMC Delancey’s corporate strategy shift from owner/operator to provider of equity capital and resources to real estate operating partners. This disposition follows AMC Delancey’s recent sale of its One Montgomery Plaza office building in Norristown and its Gettysburg Village outlet center.

The deal was brokered by Paul Wolfson and Arthur Weisman of NAI Geis Realty.

Located in the King of Prussia, Pa., office submarket, Cedar Run Corporate Center is a 60,000-square-foot, two and one half-story office building that is fully leased. AMC Delancey acquired the building in 2002 and subsequently spent $3 million renovating the property. The renovation included site improvements, a new lobby and common areas, a new HVAC system, sprinklers, restroom upgrades, electrical upgrades and new tenant improvements.

“At the time of the acquisition and renovation, Cedar Run was only 19 percent occupied, but we leased it up at above-market rates to its current 100 percent occupancy during a period of negative absorption in the market,” said Andrew Kleeman, vice president of asset management for AMC Delancey Group. “The leasing success at Cedar Run is based, in part, on its unique California architecture and extraordinary site, which create a tranquility-of-place that is unparalleled in the market. SJS acquired the property due to it being fully leased, completely upgraded, and due to its location in the dominant office submarket of the Philadelphia suburbs.”

Kenneth P. Balin, president and CEO of AMC Delancey Group, added, “This was an opportune time to sell Cedar Run Corporate Center, as managing this type of asset is no longer core to our operating strategy. We will continue to review asset sales opportunities, as we are presently doing with our Cast Iron Building in Philadelphia and our Quality Center shopping center in Lancaster, while simultaneously maintaining our ongoing strategy of seeking strategic operating partners with whom to invest.”

About SJS Realty Management
SJS Realty Management Inc. was established in 1997 to acquire and manage commercial real estate assets. Utilizing a streamlined approach to real estate operations, SJS has developed a diverse portfolio that includes 17 properties in four states totaling more than 1.3 million square feet of rentable space. What distinguishes SJS from their competitors is their ability to manage many types of commercial real estate. Their current holdings include shopping centers (25,000 to 290,000 square feet), office buildings (12,000 to 100,000 square feet) and industrial buildings (80,000 to 116,500 square feet). While SJS began in Southern New Jersey, their geographic scope has expanded to include properties in Eastern Pennsylvania, Maryland and Florida

About AMC Delancey Group
Founded by Kenneth P. Balin in 1992, AMC Delancey Group, Inc. is a leading real estate investment and development firm that aligns interests and co-invests with a growing number of real estate operating partners throughout the United States. Headquartered in Philadelphia, Pennsylvania, the Company's programmatic approach focuses first on the quality of potential operating partners, next on their investment strategies, and then on the specific properties proposed for acquisition. The Company's current investment programs include hotel, office, retail, multi-family, condominium, mixed use, and land development. AMC Delancey plans to expand these and future investment programs throughout the United States, with both existing and new operating partners, with investments targeted over the next several years in excess of one billion dollars. For more information on AMC Delancey Group, visit www.amcdelancey.com .

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