Talia Jevan Properties Purchases Lifeprint Health Center in Phoenix for $20.5 MM

  Talia Jevan Properties Purchases Lifeprint Health Center in Phoenix for
  $20.5 MM

 Second Major U.S. Property Acquisition for Canadian Private Investment Firm

Business Wire

PHOENIX -- June 13, 2013

Colliers International announces that Vancouver-based private investor Talia
Jevan Properties (TJP) has acquired the Lifeprint Health Center at 20414 N.
27^th Avenue in Phoenix for $20.5 million. The Lifeprint property represents
TJP’s second Class A acquisition in the U.S.

The Lifeprint Health Center in Phoenix, acquired by Talia Jevan Properties.
(Photo: Business Wire)

The Lifeprint Health Center in Phoenix, acquired by Talia Jevan Properties.
(Photo: Business Wire)

Bob Broyles, senior vice president with Colliers International in Greater
Phoenix, and Simon Lim, executive vice president with Colliers in Vancouver,
represented TJP in negotiating the purchase of this key investment property.
Eric Wichterman, Mike Coover and Tom Weinhold with Cassidy Turley Arizona
represented the seller, Winthrop Realty Trust of Boston.

Built in 2008, the 81,875-square-foot, five-story Lifeprint Health Center is a
trophy Class A medical property located at the intersection of two major
freeways—I-17 and West Loop 101. Situated near retail amenities and within a
few blocks of the John C. Lincoln Deer Valley Hospital, the building also
includes a 4½-story parking garage with 300+ spaces.

“The Lifeprint Health Center is a great addition to Talia Jevan’s portfolio,”
Broyles said. “Its strong base of synergistic tenants, state-of-the-art
amenities and proximity to the hospital, combined with a fantastic location,
make this a highly attractive medical property.”

The property is currently 98 percent occupied with a range of strong tenants.
Lifeprint, a primary care, multispecialty clinic owned by UnitedHealthcare,
occupies approximately 50 percent of the building. Other tenants include
Premier Research Group, SimonMed Imaging, Southwest Desert Cardiology, Sonora
Quest Laboratories, and Central Garden and Pet.

"To date, we've acquired just under $40 million in U.S. real estate. Our goal
is to have upwards of $100 million within a short time frame,” said Harmel S.
Rayat, president of Talia Jevan Properties. “As with our Canadian portfolio
and our recent purchase of 94 Hundred Shea, a 74,000-square-foot mixed-use
retail and office complex in North Scottsdale, we are primarily interested in
Class A assets.

“As such, we are thrilled about the unique and rare opportunity to acquire
this almost fully leased Class A medical property, which is home to many high
quality tenants,” said Rayat. “We look forward to seeking additional
high-caliber acquisitions like this in the near future.”

TJP will continue to work closely with Colliers International and lead
advisors Vector Asset Management, Inc. in making further strategic
acquisitions.

“This follow-on acquisition marks Talia Jevan’s second such purchase in as
many months, a rapid deployment of our near-term $100 million-plus
allocation,” said Jay S. Bhogal, President and CEO of Vector Asset Management.
“We’re confident that both of these target acquisitions and timing are
opportune.”

The Phoenix team of Cohen Financial, led by Partner-Director Brandon
Harrington, arranged acquisition financing for this transaction. “We were able
to close the deal in 30 days due to our management of the underwriting and
legal process, which is critical in a volatile interest rate environment.In
addition, we were able to mitigate rollover risk with our correspondent lender
to maximize proceeds,” said Harrington.

The Lifeprint Heath Center will be managed by the well-known Plaza Companies.
Megan Sherwood with Plaza will manage the leasing.

About Talia Jevan Properties, Inc.

Established in 2006, Talia Jevan Properties, Inc. is a privately owned
investment firm specializing in the acquisition and long term ownership of
“signaturesque” commercial real estate assets throughout North America. Talia
Jevan’s present portfolio consists of 440,000 square feet of prized,
commercial real estate properties, which range from irreplaceable heritage
buildings in downtown Vancouver, British Columbia, to state-of-the-art medical
and class-A retail and office properties in Scottsdale, Arizona. While
recognized as one of the premier non-institutional, non-generational,
privately held real estate companies, Talia Jevan is also renowned for
providing exceptional service to all of its valued tenants and being
responsive and respectful to all of its advisors, including investment sales
professionals, leasing agents, lawyers, bankers and property managers.

About Colliers International

Colliers International is a global leader in commercial real estate services,
with over 13,500 professionals operating out of more than 482 offices in 62
countries. A subsidiary of FirstService Corporation, Colliers International
delivers a full range of services to real estate users, owners and investors
worldwide, including global corporate solutions, brokerage, property and asset
management, hotel investment sales and consulting, valuation, consulting and
appraisal services, mortgage banking and insightful research. The latest
annual survey by the Lipsey Company ranked Colliers International as the
second-most recognized commercial real estate firm in the world.

For the latest news from Colliers International, visit colliers.com/us/news or
follow us on Twitter: @ColliersIntl.

Colliers International in Greater Phoenix has served clients locally and
globally for more than 30 years.

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Contact:

DRA Strategic Communications
Denise D. Resnik, 602-956-8834 x111
denise@dracommunications.com
 
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