07.19.07
AMC Delancey Group Closes $61 Million Sale of Gettysburg Village
Company Also Puts Cast Iron Building and Quality Center Shopping Center Assets on Market

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

PHILADELPHIA (July 19, 2007) – AMC Delancey Group, Inc., a leading national real estate investment and development firm, today announced that it has completed the sale of its Gettysburg Village Factory Stores to Horizon Group Properties, Inc. for $61.05 million. With the sale, AMC Delancey has nearly concluded its corporate strategy shift from owner/operator to provider of equity capital and resources to strategic operating partners.

The company’s transformation will be complete with the sale of the Cast Iron Building in Philadelphia, which is being marketed by Corvest Realty Group, and the sale of Quality Center Shopping Center in Lancaster, Pa., which is being marketed by Richard Frolick of the Oak Brook, Ill., office of CB Richard Ellis. These properties represent AMC Delancey’s last two major legacy assets.

Gettysburg Village has a history nearly as rich as that of the historic town that it calls home. The late Greg Boyle, founder and president of The Boyle Group, conceived the project in the mid 1990s, and in 1998 partnered with the then-Delancey Investment Group, Inc. to develop the project. In the late 1990s, Mt. Joy Township, the Pennsylvania Historical Society and the town of Gettysburg all shared some skepticism and concern over what would be developed adjacent to this historic battlefield, named one of the “Top 10 Epic Sites” by Conde Nast Traveler. Planning and negotiations around development conditions spanned a period of nearly five years. The extensive planning, affectionately referred to as the “Second Civil War” amongst Delancey and Boyle Group staff, culminated with the grand opening of the center in October of 2000. Since that time, the center, which features over 70 unique stores and restaurants, a hotel and a cinema, has been fully leased with retail and dining establishments.

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, visit www.amcdelancey.com.

# # #