CHICAGO, July 28 /PRNewswire/ -- The Financial Advisory Committee of the
Board of Trustees of Banyan Strategic Realty Trust (Nasdaq: BSRTS) today
announced that as part of its previously announced review of strategic
alternatives for the Trust, it has authorized its financial advisor, CFC
Advisory Services, an affiliate of Cohen Financial, a Chicago-based real
estate investment banking firm, to initiate a marketing effort designed to
solicit bids for the Trust's properties in whole, bulk sales or individually.
Larry Schafran, chairman of the Committee, commented that, "This is the next
step in our process of evaluating our portfolio and determining disposition
strategies designed to enhance shareholder value and liquidity."
Banyan Strategic Realty Trust is an equity Realty Estate Investment Trust
(REIT) that owns primarily office and flex/industrial properties. These
properties are located in certain major metropolitan areas of the Midwest and
Southeastern United States, including Atlanta, Georgia and Chicago, Illinois
and smaller markets such as Huntsville, Alabama, Louisville, Kentucky,
Memphis, Tennessee, and Orlando, Florida. The Trust's current portfolio
consists of 27 properties totaling 3.5 million rentable square feet. As of
this date, the Trust has 14,202,414 shares of beneficial interest outstanding.
See Banyan's Website at http://www.banyanreit.com .
For further information regarding Banyan free of charge via fax, dial
1-800-PRO-INFO and enter "BSRTS."
SOURCE Banyan Strategic Realty Trust
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Related links:
http://www.banyanreit.com
CONTACT:
Robert G. Higgins of Banyan Strategic Realty
Trust, 312-683-5539, or e-mail, bhiggins@banyanreit.com
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