SOURCE: LRG Capital Group, LLC

LRG Capital Group, LLC

February 11, 2009 13:31 ET

LRG Capital Real Estate Partners I Fund Acquires Mathews Building in San Rafael, California and Renames It The LRG Capital Building

LARKSPUR, CA--(Marketwire - February 11, 2009) - LRG Capital Real Estate Ventures, a subsidiary of LRG Capital Group, is pleased to announce that the LRG Capital Real Estate Partners I Fund has acquired the Mathews Building at 851 Irwin Street, a commercial office building located in San Rafael, California just off Highway 101 and minutes away from San Francisco. The purchase of the three-story, class A office building was completed at the price of $246 per square foot and comprises 27,253 square feet of elevator served offices and 84 parking spaces. The well-maintained building is 96% occupied and the anchor tenants include Tamalpais Bank and Bradley Real Estate.

"The purchase of this key property, which we will be renaming The LRG Capital Building, provided us with the opportunity to acquire a Class A commercial building in a desirable and convenient location at a price well below replacement cost," said Lawrence Goldfarb, CEO and founder of LRG Capital Group. "With its strong creditworthy tenant mix and secure cash flow, we expect this property to enhance the overall performance of our portfolio."

The LRG Capital Real Estate Partners I Fund primarily makes direct, intermediate term equity investments in commercial properties located in or near California's premier cities and, to a lesser extent, development and rehabilitation projects for office, retail, multi-family, industrial and mixed-use properties. The Fund is co-managed by Evan Kraus, Executive Vice President of LRG Capital Group, Lawrence Goldfarb, CEO of LRG Capital Group, Geoffrey Koblick, a seasoned real estate investor who has been active in California commercial real estate for over 23 years, and Richard Hall, a respected commercial real estate manager and investor since 1999.

The 851 Irwin Street office building joins other commercial, multi-family and mixed-use properties in the LRG Capital Real Estate Partners I Fund's portfolio including 505 A San Marin Drive, Novato, California, 18360 Sierra Drive, Sonoma, California, 384 Bel Marin Keys Blvd, Novato, California, 220 Canal Street, San Rafael, California and 125 E. Sir Francis Drake Boulevard, Larkspur, California.

About LRG Capital Real Estate Ventures

LRG Real Estate Ventures invests in and advises on a wide range of equity financing solutions, from joint ventures with operating and development sponsors to direct, active investments through LRG Capital Real Estate Partners, involving commercial, multi-family, retail and light-industrial real estate properties.

About LRG Capital Group

LRG Capital Group (www.lrgcapital.com) is a global investment, banking and advisory boutique that focuses on public and private companies in the technology, life sciences, hospitality, real estate and entertainment sectors. Founded by Lawrence Goldfarb, the firm provides capital via private equity, commercial loans and structured debt financing, and guides and advises clients on mergers and acquisitions, corporate finance and other strategic alternatives. Based in San Francisco with offices in New York and Miami, LRG Capital excels at relationship-focused guidance and financing.

This release contains forward-looking statements relating to the business and financial outlook of LRG Capital Real Estate Partners I Fund that are based on our current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this release. Such factors include those described in the Risk Factors sections of the offering documents of LRG Capital Real Estate Partners I Fund. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Contact Information