Paramount Medical Real Estate Management Announces Two New Medical/Professional Office Building Contracts

Business Wire, Oct 1, 1997

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Oct. 1, 1997--Paramount Medical Real Estate Management (Paramount) has announced that it has been selected to manage two new medical/professional office buildings at Congress Professional Center, a 6-acre professional and health center located between Forest Hill Boulevard and 10th Avenue North at 1620 South Congress Avenue in Palm Springs, Fla.

The buildings are being developed by DASCO Companies, the nation's leading medical real estate developer.

Congress Professional Center currently has an 18,400 square foot medical office building which was completed in January 1995 and is managed by Paramount. The facility is 100% occupied.

The two new buildings consist of an 18,400 square foot facility which is 90% pre-leased and a 27,600 square foot facility which is over 75% pre-leased. Both of the buildings should be completed in early 1998. Paramount's president, Hank Yunes, commented that, "We are excited to have the opportunity to work with the two new ownership groups for these buildings and to be of service to the many physician and professional practices that are locating their offices to the Congress Professional Center."

Paramount is one of the nation's leading healthcare property management companies with offices currently in West Palm Beach, Palm Beach Gardens 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 systems, both investor-owned and not-for-profit.

CONTACT: Paramount Medical Real Estate Management

Hank Yunes, President, 800/793-9289