SOURCE: Simshabs Capital Partners Ltd.

January 29, 2013 12:26 ET

Simshabs Capital Partners Ltd. Announces a Lease With Our Lady of Lourdes Health Care Services, Inc.

BROOKLYN, NY--(Marketwire - Jan 29, 2013) - Simshabs Capital Partners is pleased to announce that its subsidiary, Simshabs IX, Inc., has exercised its rights, as provider of funds and equity, and has executed a ten year lease with Lourdes Medical, a medical provider in Central and Southern, New Jersey. Such agreement provides for occupancy of the ground level of the facility for which funds had been advanced, with an option to convert such debt to equity, by Simshabs. The facility is located at 25 Wrightstown-Cookstown Road in New Hanover, New Jersey.

It is anticipated that the operation of Lourdes will provide a welcome expansion of medical services provided to both the region and McGuire/Fort Dix which is the consolidated military base that is dominant within the region. Further discussions are currently underway with several other medical providers for taking space in the building.

It is expected that the property, by virtue of both tenancy and renovations/retrofitting, will be positioned as a Class A operation, both in terms of its physical plant and activity within it. Such will result in a secure position within the market and serve both the civilian and military populations within its radius for the near and long term future.

Additional updates will be provided in the future with regards to the progress of the project.

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