10.10.05
AMC Delancey Group Announces the Disposition of Festival at Hamilton Shopping Center in
Mays Landing, NJ

Contact
Kathleen Pallas, Beckerman Public Relations
(908) 781-6420, Kathleen@beckermanpr.com

PHILADELPHIA, PA, OCTOBER 10, 2005 – After an approximate three and a half year hold, AMC Delancey Group, Inc., a Philadelphia-based national real estate investment company, has announced the disposition of the Festival at Hamilton shopping center in Mays Landing, New Jersey. An affiliate of Paramount Realty Services, Inc. purchased the 182,206-square-foot grocery-anchored community shopping center for $21.2 million. Metro Commercial represented the seller in the transaction, as well as having served as property manager for the facility.

“We are pleased to announce the disposition of the Festival at Hamilton to Paramount Realty Services,” stated Kenneth P. Balin, President and CEO of AMC Delancey Group. “This sale reflects the culmination of our successful business plan for this asset and our team’s ability to outperform the local marketplace. This resulted in a higher net operating income and excellent return on our investment. This asset is well positioned to continue to experience tremendous success within the Mays Landing community.”

After years of decline following the prior lender’s repossession of the property, the asset was ripe for a well-planned facelift and repositioning.

Following the acquisition by AMC Delancey in 2002, the strategy to re-invest significant capital into high visibility enhancements, such as eye-catching signage, well designed landscaping and parking lot improvements, was executed upon. These significant improvements to the center’s appearance, combined with the additional investment in the center’s structure and roof paid dividends in terms of the retention of the existing tenant base and the attraction of new local and national retailers.

With Metro Commercial, AMC Delancey negotiated the relocation and doubling in space occupied by the existing tenant Boaters World, and was then able to address the inherited vacancy of approximately 20 percent and refinance the property in the initial 18 months of ownership.

Located at 3950 Black Horse Pike in Mays Landing, the Festival at Hamilton center is anchored by a 57,000-square-foot Acme Markets Superstore. Other tenants include Pier One Imports, Blockbuster Video, and JoAnn Fabrics. This property was managed and leased by Metro Commercial Real Estate, Inc. The property is currently 94 percent occupied.

Metro Commercial is a leading specialist in retail brokerage, focusing on providing comprehensive services to high-level corporate, institutional and entrepreneurial entities facing multiple and complex real estate requirements. For more information on Metro Commercial, visit www.metrocommercial.com .

AMC Delancey Group, Inc. is a leading real estate investment and development firm that co-invests with a growing number of real estate operating partners throughout the United States. Headquartered in Philadelphia, Pennsylvania, the Company's unique approach focuses first on the quality of potential operating partners, next on their investment strategies, and finally 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 other investment programs into existing and new territories, with 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 .