(BSNS WIRE) The Bauer Partnership Enters Into Letter of Intent to Acquire t
The Bauer Partnership Enters Into Letter of Intent to Acquire the Six Flags
Mall in Arlington, Texas, for US $23.5 Million
Business Editors
NEW YORK--(BUSINESS WIRE)--March 14, 2002--The Bauer Partnership,
Inc. (OTCBB:BUER) ("BAUER"), a real estate investment company,
announced today that through one of its wholly-owned subsidiaries,
Bauer Capital Management Ltd., it has entered into a Letter of Intent
to acquire The Six Flags Mall in Arlington, Texas for US $23,500,000.
The mall, one of the first regional malls in the Dallas-Fort Worth
area was built in 1972, has over 50 stores, and two anchor stores
including Dillard's and Foley's, numerous restaurants, amenities, and
a multiplex cinema.
"The acquisition of the Six Flags Mall demonstrates our commitment
to diversify beyond hotel resorts into the undervalued retail sector,
as a major player in the Dallas-Fort Worth region," said Ronald J.
Bauer, CEO of The Bauer Partnership, Inc. "We plan to make a
significant capital investment in improving this property, making the
Six Flags Mall one of Arlington's premier shopping destinations,"
added Mr. Bauer.
About BAUER
BAUER is a real estate investment company that specializes in
acquiring cash-flow positive commercial real estate assets on an
international basis. BAUER fills a unique position in the market place
by offering the ability to structure and finance sophisticated
transactions in various geographies worldwide. BAUER seeks to utilize
its listed equity to acquire existing hotel and commercial real estate
assets to add significant increases in revenue and net asset value to
its financial position.
Statements contained in this release, which are not historical
facts, including statements about plans and expectations regarding
business areas and opportunities, demand and acceptance of new or
existing businesses, capital resources and future financial results
are "forward-looking" statements as contemplated by the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks and uncertainties, including, but not
limited to, government regulation, taxation, spending, competition,
general economic conditions and other risk factors which could cause
actual results to differ materially from those projected or implied in
the forward-looking statements. There may be other factors not
mentioned above that may cause actual results to differ materially
from any forward-looking information.
--30--LS/na*
CONTACT: The Bauer Partnership Inc., New York
Press Contact:
Investor Relations, 212/572-6276
Email: investor.relations@bauer-partnership.com
Web: www.bauer-partnership.com |
