01.09.07
Landmark Philadelphia Building Trades Hands
AMC Delancey Group Sells One Montgomery Plaza to Montgomery County

Contact
Michael J. LaCosta, Vice President
Beckerman Public Relations
(908) 781-6420, michaelj@beckermanpr.com

PHILADELPHIA (January 9, 2007) – One Montgomery Plaza, owned and operated by Philadelphia-based AMC Delancey Group, Inc. since 1998, has a new owner, as Montgomery County completed the purchase of the 228,000-square-foot landmark building from AMC Delancey for a combined $26.08 million. The purchase price includes the building and land, 221 covered parking spaces, another 27 outside spaces and a rooftop helicopter-landing pad.

In a deal that was planned over several months, the transaction was completed without any disruption of service or support for existing tenants. Additionally, all existing building staff was offered employment by Montgomery County to ensure ongoing and consistent tenant service.

“AMC Delancey is evolving from a building owner/operator to a provider of equity capital and resources to strategic operating partners,” said Kenneth P. Balin, president and CEO of AMC Delancey Group. “Selling One Montgomery Plaza fit our new strategic model while also being an ideal acquisition for Montgomery County, as they already lease approximately 60 percent of the building, which is directly across the street from the county courthouse.”

Commissioners chairman Thomas J. Ellis added, “With no room for expansion in the courthouse and knowing that other state counties are paying $100 million or more to expand their courthouses, it just made sense to acquire a high quality building is such close proximity to the courthouse. We are already have a presence in One Montgomery Plaza and now we now have more room to grow.”

Presently, the county leases over 132,000 square feet of space, with private organizations leasing over 34,000 square feet. Among the county departments now housed in One Montgomery Plaza include the commissioners, information services, voter registration, treasurer, county detectives, purchasing, controller, payroll, human resources, retirement, senior judges, recorder of deeds, board of assessments, planning commission, file room, domestic relations, licenses and court care. Approximately 60,000 square feet of the building is available for lease.

About AMC Delancey Group
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 .

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