06.21.04
Wharton Professor Joseph Gyourko appointed senior advisor at AMC Delancey Group, Inc.

PHILADELPHIA, PA, JUNE 21, 2004— AMC Delancey Group, Inc., a Philadelphia, Pennsylvania-based national real estate investment company, announced that Dr. Joseph Gyourko, the Martin Bucksbaum Professor of Real Estate and Finance at The Wharton School of the University of Pennsylvania, has joined the organization as a Senior Advisor.

Dr. Gyourko will consult AMC Delancey on a myriad of strategic real estate issues including investment strategy and macroeconomic factors as they relate to investment opportunities, overall market trends and future growth strategy.Dr. Gyourko is the director of the prestigious Samuel Zell and Robert Lurie Real Estate Center at The Wharton School. He previously served as Chair of Wharton’s Real Estate Department and as Coordinator of the Department’s Ph.D. program. Additionally, Dr. Gyourko is a Nonresident Senior Fellow, The Brookings Institution, Center on Urban and Metropolitan Affairs, Washington, D.C., and a Trustee of the Urban Land Institute. The distinguished professor is a highly acclaimed academic researcher and editor in the field of real estate, and has been on the Wharton faculty for 20 years. Professor Gyourko is a Phi Beta Kappa graduate of Duke University and a holds a Ph.D. in Economics from the University of Chicago.

Kenneth P. Balin, President and CEO of AMC Delancey Group, said, “We are extremely fortunate that Dr. Gyourko has joined our company in a strategic advisory capacity. He is an exceptionally talented real estate professional who will provide us keen perspective and insights into the macroeconomic factors impacting the real estate industry and our investment portfolio. This relationship with AMC Delancey will also provide Dr. Gyourko with a hands-on role in shaping a real estate investment company and an opportunity to take a new perspective to the classroom at Wharton.”

Dr. Gyourko stated, “AMC Delancey is one of the leading investment firms in the commercial real estate industry and I am very excited to be working with the firm as it dramatically expands its network of strategic real estate operating partners. The Company’s investment and expansion strategy requires that it carefully align interests with its operating partners and then co-invest with them on a long-term programmatic basis. My role will be to help AMC Delancey analyze and re-validate its strategies as it expands into new market opportunities.”

As part of its strategy of aligning itself with operation partners throughout the east coast, AMC Delancey recently announced joint ventures with two new operating partners. In April, AMC Delancey announced the acquisition of a multi-family property in Gaithersburg, Maryland with Ross Investment & Development of Bethesda, Maryland, as well as the acquisition of a hotel in Jacksonville, Florida with Paramount Hotel Group of Fairfield, New Jersey. The Company plans more acquisitions with both firms and to create additional relationships in major east coast markets with other seasoned operating partners.

Founded by Kenneth P. Balin in 1992, AMC Delancey Group, Inc. is a long-term investor in real estate that delivers superior risk-adjusted financial returns by aligning interests with leading local operating partners and investors throughout the east coast. Headquartered in Philadelphia, Pennsylvania, the Company targets long-term relationships with operating partners from New England to Florida. For more information on AMC Delancey Group, visit www.amcdelancey.com.

For more information on Professor Joseph Gyourko visit http://rider.wharton.upenn.edu/~wred/Gyourko/gyourko_home.htm