$14,500,000 Recently Completed Assisted Living Facility to Draw Auction Bidders with...

$14,500,000 Recently Completed Assisted Living Facility to Draw Auction
Bidders with a Reserve Price of $3,500,000
72 Units, 90,000 +/- sq. ft. on 12 + Acres of Land

NEW HAVEN, Conn., July 9 /PRNewswire/ -- Tranzon Integrated Property Group
("Tranzon") has announced that it has been engaged to conduct an auction of
the property known as the Adel R. Coccomo Residential Center in Middlesex
County, Connecticut. The property is currently operating and was completed in
early 2008 at a cost of $14,500,000. Tranzon has been authorized to sell the
center at a reserve price of $3,500,000.

"This property is a tremendous opportunity for an Assisted Living Facility
operator or real estate investor to acquire an underperforming but premium
asset at a distressed price," said Joshua Olshin, President of Tranzon. "The
potential upside here for someone to properly market and turn-around this
asset will make this auction very exciting. There are a lot of people out
there with cash or captive financing available just waiting for opportunities
like this to hit the market."

Oren Klein, Vice President and Auctioneer at Tranzon, analyzes the situation:
"Seniors make up 13.4% of the Connecticut population which is well above the
national average. More significantly, competing facilities in the area offer
residents less competitive packages and are still operating at close to 100%
occupancy." Experienced operators out there agree that a properly implemented
and financed marketing campaign can fill up a center like this in a very short
time period. Klein adds, "After incurring significant construction costs, the
Owner has unfortunately been unable to devote the appropriate resources
towards attracting tenants in the way that a new and better capitalized owner
would be able to."

Tranzon and its affiliates have had extensive experience auctioning distressed
senior housing projects through the country. This auction group was
responsible for the successful bankruptcy auction sale of 9 assisted living
and skilled nursing facilities owned by Continuum Care Corporation.

The auction will be held on Wednesday, August 5th at 3PM. Confidential
information can be obtained at a dedicated website set up by the firm at
www.alfauction.com, at Tranzon's website at www.tranzon.com, or by calling
888.243.3431.

About Tranzon Integrated Property Group
Tranzon Integrated Property Group, a member Company of Tranzon, L.L.C., is
based in the New York metropolitan area and is a full-service auction and real
estate disposition company. With over 33 offices from coast to coast, the
member companies of Tranzon auctioned more than 1,000 properties last year and
over the past five years, have conducted auctions in 45 states and the
District of Columbia. The professionals working at Tranzon member companies
specialize in providing real estate, business asset and liquidation auction
and accelerated marketing services to corporations, financial institutions,
trustees, individuals and estates throughout the U.S.

CONTACT:
Emily Kozlow
(917) 837.8592
emily@skyline43.com

SOURCE Tranzon Integrated Property Group

Emily Kozlow, +1-917-837-8592, emily@skyline43.com, for Tranzon Integrated
Property Group