CHICAGO, Nov. 8 /PRNewswire/ -- Banyan Strategic Realty Trust
(Nasdaq: BSRTS) announced the completion of the previously announced sale of
the Quantum Business Centre, a multi-tenant office/warehouse property located
in Jefferson County (suburban Louisville), Kentucky on November 4, 1999 for
$6.1 million resulting in net proceeds of $3 million.
The Trust will report a gain of approximately $750,000 in the fourth
quarter as a result of the sale.
Banyan Strategic Realty Trust is an equity Real Estate Investment Trust
(REIT) that owns and acquires primarily office and flex/industrial properties.
The properties are located in certain major metropolitan areas and smaller
markets of the Midwest and southeastern United States. The Trust's current
portfolio includes 31 properties totaling 3.5 million rentable square feet and
864 apartment units.
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:
www.banyanreit.com
CONTACT:
Karen Dickelman, Investor Relations of Banyan
Strategic Realty Trust, 312-683-3671, ir@banyanreit.com; General,
Tony Ebersole, 312-640-6728, or Analysts, Georganne Palffy,
312-640-6768, both of The Financial Relations Board, for Banyan
Strategic Realty Trust
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