OAK BROOK, Ill., June 26 /PRNewswire/ -- Banyan Strategic Realty Trust
(Nasdaq: BSRTS) announced today that it has relocated its corporate offices to
Oak Brook, Illinois. The new office address and phone numbers are:
2625 Butterfield Road, Suite 101 N
Oak Brook, Illinois 60523
630-218-7250
630-218-7251 (fax)
312-683-3671 (Investor Relations)
Interim President and CEO L. G. Schafran commented: "In keeping with our
strategy of liquidating the Company's portfolio and winding up its affairs, we
have relocated to smaller, less expensive space in suburban Chicago. We
believe we can better serve the interests of our shareholders from our new
location, while maintaining the level of responsiveness and commitment that
our industry has come to expect from us."
Banyan Strategic Realty Trust is an equity Real Estate Investment Trust
(REIT) which, on January 5, 2001, adopted a Plan of Termination and
Liquidation. On May 17, 2001, Banyan sold approximately 85% of its portfolio
in a single transaction and now owns three (3) real estate properties located
in Atlanta, Georgia; Huntsville, Alabama; and Louisville, Kentucky. As of
this date Banyan has 15,488,137 shares of beneficial interest outstanding.
Except for the historical information contained herein, certain matters
discussed in this release are forward-looking statements, the achievement of
which involve risks and uncertainties that are detailed from time to time in
Banyan's reports filed with the Securities and Exchange Commission, including
the report on Form 10-K for the year ended December 31, 2000, filed with the
Securities and Exchange Commission on March 9, 2001 and the "Management's
Discussion and Analysis of Financial Condition and Results of Operations"
section included in Banyan's Form 10-Q for the quarter ended March 31, 2001,
which was filed with the Securities and Exchange Commission on May 15, 2001.
Without limitation the foregoing, words such as "anticipates", "expects",
"intends", "plans", and similar expressions are intended to identify forward-
looking statements.
See Banyan's Website at http://www.banyanreit.com .
SOURCE Banyan Strategic Realty Trust
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Related links:
http://www.banyanreit.com
CONTACT:
Robert G. Higgins, Vice President, General
Counsel, 630-218- 7255, or bhiggins@banyanreit.com , or
Investors, L.G. Schafran, Chairman and Interim CEO -- President,
312-683-3671, or ir@banyanreit.com , both of Banyan Strategic
Realty Trust
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