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Great American Group Inc : GA Keen Realty Advisors Hired by Federal Receiver to Sell Former Headquarters of Peregrine Financial Group

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02/27/2013 | 05:55pm CEST

- State-of-the-Art LEED Certified 48,250 Sq. Ft. Building in Cedar Falls, Iowa -

Bid Deadline: May 24, 2013

Auction: May 31, 2013

GA Keen Realty Advisors, a division of Great American Group, Inc. (OTCBB: GAMR), is marketing a 48,250-square-foot office building in Cedar Falls, Iowa that has been built to Leadership in Energy and Environmental Design (LEED) Gold standards for its environmentally-friendly construction.

The property and facilities are being sold as part of a Federal Receiver's sale, with GA Keen Realty Advisors working with the court appointed receiver, Chicago-based attorney Michael M. Eidelman, in marketing the building and property. The bid deadline is Friday, May 24, 2013, with an auction scheduled for Friday, May 31, 2013. Bid procedures are available and offers can be accepted by the Receiver prior to the auction.

"This is an extraordinary, world-class building that is an outstanding location for a corporate headquarters or a tremendous opportunity for an investor," said GA Keen Realty Advisors Co-President Matthew Bordwin. "The building's sustainable design and highly desirable amenities make it an attractive purchase for a variety of users. Additionally, it's nestled in a beautiful suburban area that's only a few minutes from the interstate."

Built in 2008, the building design features minimize emissions, water use, waste, and indoor pollutants. Located on a 22-acre site at 1 Peregrine Way, it is designated as a Class A professional office building and includes 108 exterior parking stalls and 43 underground parking spaces. The exterior is all glass and features finishes of bamboo, cork, carpet and natural stone. Amenities also include a two-story atrium, kitchen and cafeteria, an exercise facility with locker rooms, a day-care center, and flexible office configurations with movable systems.

The building is the former headquarters of Peregrine Financial Group (PFG), owned by Russell Wasendorf, Sr., which filed for bankruptcy in July 2012.

GA Keen Realty Advisors was retained by Order of the United States District Court, Northern Division of Illinois on February 26, 2013. For more information about the office building, contact Matthew Bordwin at mbordwin@greatamerican.com, Chris Mahoney at cmahoney@greatamerican.com or Heather Milazzo at hmilazzo@greatamerican.com or call 646-381-9222. Additional information can be found at www.greatamerican.com/keen.

About GA Keen Realty Advisors, LLC

GA Keen Realty Advisors, located in New York, provides real estate analysis, valuation and strategic planning services, brokerage, M&A, auction services, lease restructuring services and real estate capital market services. For more information about GA Keen Realty Advisors, call 646-381-9222 or visit http://www.greatamerican.com/keen.

About Great American Group, Inc. (OTCBB: GAMR)

Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. The company has in-depth experience within the retail, industrial, real estate, healthcare, energy and technology industries. The corporate headquarters is located in Woodland Hills, Calif. with additional offices in Atlanta, Boston, Charlotte, N.C., Chicago, Dallas, New York, San Francisco and London. For more information, call 818-884-3737 or visit www.greatamerican.com.

Great American Group
Michelle Kahan, Director of Marketing
Mulberry Marketing Communications
Christina Bereta, Account Executive

© Business Wire 2013
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