MIG Real Estate Expands Denver Portfolio with Acquisition of 190,000-Square-Foot I-225 Plaza

Newport Beach, Calif. firm formerly known as Stoneridge Capital Partners nabs third Denver property since August 2010.

2011-03-30

NEWPORT BEACH, CA, March 30, 2011 (Press-News.org) MIG Real Estate, a Newport Beach, Calif.-based real estate investment company formerly known as Stoneridge Capital Partners, has acquired the 190,000-square-foot I-225 Plaza. The five-building mixed-use property is located in the Denver submarket of Aurora, Colo. and features office, industrial and retail components. This is the firm's third acquisition in the Denver market since August 2010. Terms of the sale were not disclosed.

"Acquiring the I-225 Plaza enabled us to expand our presence in Denver with a property that offers a prime location, diversified tenant profile and high occupancy," said Greg Merage, Chief Executive Officer of MIG Real Estate. "Denver has one of the nation's stronger economies and we will continue to leverage our strong cash position to expand our presence within the market."

The five-building property is 88 percent leased to a range of office, industrial, retail and services tenants. I-225 Plaza is located adjacent to Interstate 225 at 1600-1690 S. Abilene St. and 13900 E. Florida Ave. within a thriving retail district near the Town Center at Aurora Mall and numerous local retail centers.

MIG Real Estate entered the Denver market in August 2010 with the acquisition of a 161-room Holiday Inn & Suites and 139-room Holiday Inn Express. The firm's expansion efforts within the Denver market will focus on retail, office, hotel and multifamily properties, according to Merage.

MIG Real Estate has completed more than $250 million in acquisitions over the past two years, acquiring properties in California, Arizona, Nevada, Colorado, Hawaii and Edmonton, Alberta.

T.J. Smith and Brad Calbert of Colliers International represented the seller in the transaction. MIG Real Estate represented itself.

About MIG Real Estate
MIG Real Estate owns and operates a diverse portfolio of assets in California, Phoenix, Las Vegas, Hawaii, Denver and Edmonton, Alberta. The firm is currently engaged in an aggressive expansion strategy, seeking value added and opportunistic investment opportunities in select service hotels, grocery anchored shopping centers, office, industrial and multifamily properties. MIG Real Estate has acquired approximately 1.75 million square feet comprising more than $250 million of assets since April 2009. MIG Real Estate is the real estate arm of MIG Capital (Merage Investment Group), an alternative investment firm that also encompasses MIG Absolute Return and MIG Private Equity. Additional information is available at http://www.migcap.com/RealEstate/.

About MIG Capital (Merage Investment Group)
MIG Capital (Merage Investment Group) is an alternative investment firm dedicated to the creation and preservation of capital. Founded by the Merage family, wealth creators committed to the highest levels of integrity, MIG Capital applies an entrepreneurial mindset combined with a highly disciplined approach. MIG Capital and its affiliates have more than $1 billion in assets under management in three principal areas: MIG Absolute Return, MIG Private Equity and MIG Real Estate. Substantial investment of family capital in all asset classes ensures full alignment with MIG investors. Additional information is available at www.migcap.com.

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