PARAMOUNT MEDICAL REAL ESTATE MANAGEMENT announces 26,000 square foot medical office building contract

Business Wire, April 30, 1997

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--April 30, 1997--PARAMOUNT MEDICAL REAL ESTATE MANAGEMENT (PARAMOUNT) has announced that it has been selected to manage phase one of Hartwell Medical Center, a 26,000 square foot medical office building being developed by St. Rose Dominican Hospital, a division of the seventh largest healthcare organization in the nation, Catholic Healthcare West, and DASCO Companies, the nation's leading medical real estate developer.

Hartwell Medical Center, when complete, will consist of two medical office buildings totaling more than 52,000 square feet. The twin medical office buildings will be designed with a distinctive architectural identity, combining the heritage of St. Rose Dominican while complimenting the surrounding architecture. Completion of the facility is targeted for August 1997. PARAMOUNT's President, Hank Yunes, commented that: "We are pleased to have the opportunity to work with St. Rose Dominican Hospital, Catholic Healthcare West, and DASCO Companies. This contract continues to demonstrate the confidence that the healthcare community has in our medical real estate management services."

The first phase of Hartwell Medical Center offers physician office space for a wide range of specialties including family practice, internal medicine, pediatrics, OB/GYN, orthopedics, and gastroenterology. The new facility will strengthen St. Rose's presence in the Green Valley Ranch Sector and Henderson, a suburb of Las Vegas and provide greater access to Catholic Healthcare's health care delivery system.

PARAMOUNT is one of the nation's leading healthcare property management companies with offices currently in West Palm Beach and Delray Beach, Fla.; La Jolla, Calif.; Philadelphia; Dallas; Great Falls, Mont. and Charleston, S.C. New offices will soon open in Phoenix and Atlanta. PARAMOUNT currently manages outpatient and medical office facilities for many national hospital companies, both investor-owned and not-for-profit.

CONTACT: PARAMOUNT MEDICAL REAL ESTATE MANAGEMENT

Hank Yunes, President

800/793-9289