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Quarter Circle Capital Acquires Texas Commercial Real Estate Asset at Foreclosure
| Source: Quarter Circle Capital
OMAHA, NE -- (MARKET WIRE) -- October 30, 2006 -- Quarter Circle Capital, LLC (QC Capital) today
announced the acquisition of the fee interest in a neighborhood shopping
center in the Dallas Metropolitan area on behalf of QC Capital's recently
formed QCC Fund I, L.P. The asset was acquired for approximately $4.1
million and is the first acquisition made by QC Capital on behalf of QCC
Fund I.
With offices in Omaha, Nebraska and San Francisco, California, QC Capital
focuses on principal acquisitions of distressed or defaulted debt on or fee
interests in commercial real estate assets, generally ranging from $2
million to $25 million in value.
"This asset is very representative of both our investment strategy and the
target investment parameters of Fund I," said Starr P. Schulke, Chief
Investment Officer. "We are pleased with this acquisition and, along with
our limited partner in Fund I, we look forward to making similar
investments."
About Quarter Circle Capital:
Quarter Circle Capital, LLC makes principal investments in fundamentally
sound real estate or debt secured by real estate, the value potential of
which it perceives impaired by, among other things, stress caused by
obligations of onerous capital structures, shifts in market conditions,
property positioning and / or management. QC Capital's senior management
includes Starr P. Schulke, Chief Investment Officer, Philip J. Gibson,
Managing Director of Acquisitions, John P. Martin, Managing Director of
Business Development and James R. Puckett, Chief Executive Officer.
Messrs. Gibson and Martin began investing in distressed debt and fee
interests in commercial real estate in 1991 and were joined by Mr. Schulke
in 1997. Mr. Puckett, whose background includes real estate investment
banking and senior level corporate management, joined Messrs. Schulke,
Gibson and Martin in 2005 to extend the growth efforts of the company and
head the company's executive and finance efforts. For more information
about Quarter Circle Capital visit the company's Web site at:
www.qccapital.com