BIRTCHER ANDERSON REALTY, LLC PURCHASES 12-STORY HIGH RISE IN COSTA MESA FOR $41.3 MILLION

Class-A Office Tower is Located at 555 Anton

COSTA MESA, Calif., February 1, 2004 – Birtcher Anderson Realty, LLC, a Laguna Niguel, Calif.-based commercial real estate investment entity formed within the Birtcher Real Estate Group of companies, has purchased 555 Anton in Costa Mesa for $41.3 million. The 12-story, Class-A office building, located on the corner of Anton Boulevard and Bristol within the master-planned area of South Coast Metro, was purchased from Colorado-based AGL Investments No. 5 Limited Partnership.

Jeffrey Cole and Rick Putnam, senior vice presidents/principals of Trammell Crow Company represented both sides in the transaction. Wachovia Capital Markets is the buyer’s financial partner. Birtcher Anderson Properties will manage the building.

The high-rise tower built in 1989 and completely renovated in 1996, is on approximately four acres and totals 236,183 rentable square feet. It includes a three-level adjacent parking structure as well as full wrap-around glass windows and granite walls. Two, high-profile signage opportunities are also available. The building is currently 85 percent leased by eight tenants, which include PeopleSoft, Tickets.com, Netifice, Maersk, Bloodgood, BMC Software, Sharp and Meyers Group.

"We are pleased to own this high-profile office building in the heart of Orange County’s business, retail and entertainment hub, said Bob Anderson, principal with ABRA Investments. "We plan on the continued acquisition of quality investments within the Southern California area.

According to Anderson, Birtcher Anderson Realty, LLC has been very active over the last eight months since the company was formed, acquiring office and retail buildings totaling $28.9 million and 545,000 square feet. These include:

• Atria West - Two, three-story office buildings with 4 historic French cottages in Los Angeles County totaling 171,047 square feet for $15.5 million
• Canyon Corporate Center - Four-story office building in Anaheim, Calif. totaling 117,523 square feet for $10.6 million
• Harbor Village - Three-building waterfront retail property in Oceanside, Calif. in northern San Diego County totaling 18,943 square feet for $2.88 million

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