12.11.06
AMC Delancey Group Vice-President Michael Wachs Appointed to NAIOP National Board

PHILADELPHIA (December 11, 2006) – Philadelphia-based AMC Delancey Group’s vice president Michael C. Wachs was recently given the prestigious honor of joining the national board of directors for the National Association of Industrial and Office Properties (NAIOP) for a three-year term commencing January 1, 2007.

In his role as national board member, Wachs will be responsible for promoting the welfare of NAIOP, as well as a for taking a leadership position on national association committees, recruiting new principal members, testifying before governmental bodies on behalf of NAIOP, representing the board at local chapter meetings, regional seminars and state meetings, and a variety of additional responsibilities.

“Joining the NAIOP national board is an outstanding honor, as NAIOP is the preeminent trade association for developers, owners, investors, asset managers and other professionals in industrial, office and mixed-use commercial real estate,” said Wachs, a five-year member of NAIOP. “Additionally, my broad industry experience with AMC Delancey Group will prove to be a vital assert in my role as NAIOP national board member.”

Kenneth P. Balin, president and CEO of AMC Delancey Group, added, “This is an outstanding achievement and honor for Michael, who has been a vital senior member of AMC Delancey for more than ten years. Michael will be a strategic proponent of NAIOP’s goal of promoting effective public policy through grassroots efforts to create, protect and enhance property values. NAIOP members are the principal players who shape the commercial real estate industry, and Michael is definitely one of them.”

As vice president, Wachs is responsible for executing AMC Delancey’s real estate investment strategy, which includes identifying and structuring investments and joint ventures with operating partners, as well as due diligence and acquisition financing. Prior to joining AMC Delancey in 1996, Wachs held various positions of increasing authority during 12 years with First Union Nation Bank.

Additionally, he is on the NAIOP Board of Trustees, Greater Philadelphia Chapter; and is a member of the International Council of Shopping Centers and Lambda Alpha. Wachs is also a licensed real estate sales person, a member of World Entrepreneurs Organization and a Trustee of ProFunds, a family of mutual funds with over $10 billion in assets. He holds a bachelor’s degree in economics from George Washington University and a master’s of business administration from Drexel University.

About NAIOP
The National Association of Industrial and Office Properties (NAIOP) is the nation's leading trade association for developers, owners, investors, asset managers and other professionals in industrial, office and mixed-use commercial real estate. Founded in 1967, NAIOP comprises 13,000+ members in 50 North American chapters. It provides networking opportunities, educational programs, research on trends and innovations and strong legislative representation. NAIOP’s sister organization, the NAIOP Research Foundation, is one of the industry's leading think tanks dedicated to conducting research assessing the trends, economic viability and needs of the built environment.

About AMC Delancey Group, Inc.
Founded by Kenneth P. Balin in 1992, AMC Delancey Group, Inc. is a leading real estate investment and development firm that aligns interests and co-invests with a growing number of real estate operating partners throughout the United States. Headquartered in Philadelphia, Pennsylvania, the Company's programmatic approach focuses first on the quality of potential operating partners, next on their investment strategies, and then 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 future investment programs throughout the United States, with both 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 .

# # #