Roberts Realty Investors, Inc. Announces Sale Of Northridge Office Building

 Roberts Realty Investors, Inc. Announces Sale Of Northridge Office Building

PR Newswire

ATLANTA, Oct. 31, 2013

ATLANTA, Oct. 31, 2013 /PRNewswire/ -- Roberts Realty Investors, Inc. (NYSE
MKT: RPI) announces that it has completed the sale of its Northridge Office
Building to the Fulton County Board of Education. The sales price was $5.28
million and at the closing, the company paid off the $2.4 million of debt
secured by the property.

Mr. Charles S. Roberts, the company's president and chief executive officer,
stated: "Completing this sale provides us with $2.52 million to continue the
development of our 154 unit Bradley Park apartments located in Forsyth County,
Georgia, which is ranked as America's 7th fastest growing county by Forbes
Magazine. We expect to start construction on the Bradley Park apartments in
the first quarter of 2014."

Mr. Roberts continued: "In addition, we are still pursuing and working on
strategic alternatives that would enhance shareholder value through a sale or
merger of the company. We believe the sale of the Northridge Office Building
and the company's development and planned construction of the Bradley Park
apartments makes the company more valuable on its own or as a merger
candidate. As a result, we believe the company is well positioned for a
productive and successful 2014."

Roberts Realty Investors, Inc. is an equity real estate investment trust based
in Atlanta.

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended. Some of the forward-looking statements
relate to our intent, belief or expectations regarding the development and
construction of new apartments. Our forward-looking statements relating to
the construction of new apartments involve risks and uncertainties regarding
the availability of the equity capital we need to obtain construction
financing and to the overall financing environment, specifically the
willingness of financing sources to make apartment construction loans. ^
Other forward-looking statements relate to our intent, belief or expectations
regarding our examination of strategic alternatives. These statements involve
risks and uncertainties, including the occurrence, terms and timing of one or
more transactions or sales. For these forward-looking statements, we claim
the protection of the safe harbor for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995. You should not place
undue reliance on the forward-looking statements, which speak only as of the
date of this release. All subsequent written and oral forward-looking
statements attributable to us or any person acting on our behalf are expressly
qualified in their entirety by the cautionary statements contained or referred
to in this section. We undertake no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future
events, or otherwise. For more information about other risks and
uncertainties we face, please see the sections in our most recent annual
report on Form 10-K and our most recent quarterly report on Form 10-Q entitled
"Risk Factors."

SOURCE Roberts Realty Investors, Inc.

Contact: Charles S. Roberts, President, Telephone: (770) 394-6000, Fax: (770)
551-5914
 
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