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Western Reserve Partners Advises Weston, Inc. in Formation of Real Estate Joint Venture with Blue Vista Capital Management August 21, 2008 Western Reserve Partners LLC announced today that it represented Weston, Inc. (“Weston”), based in Solon, Ohio, in the formation of a real estate joint venture with Blue Vista Capital Management (“Blue Vista”), a Chicago-based real estate investment management firm. The joint venture will acquire value-added industrial real estate in Spartanburg and Greenville, South Carolina, as well as other parts of the United States. These properties will be positioned to capitalize on the dynamics surrounding the transportation, distribution and logistic markets. Leading the assignment for Western Reserve Partners were Managing Directors Victor F. Faris and Ralph M. Della Ratta, Jr., supported by Vice President Justin A. Wolfort and Associate R. Christopher Pummill. “It was a pleasure working with Weston and its talented management team,” said Faris. “The Company possesses an excellent track record of acquiring and repositioning distribution assets, and the targeted markets exhibit outstanding growth dynamics. This partnership with Blue Vista will certainly provide Weston with the equity capital required to execute their strategy and grow their industrial portfolio.” Edward Asher, principal at Weston, said, “Our management and employees are excited to have Blue Vista as our business and financial partner. They understand the dynamics of industrial real estate and appreciate the nuances of an asset repositioning. The Western Reserve Partners team was with us every step of the way and did a terrific job in working through the many details of the transaction.” “Blue Vista is focused on providing equity capital to qualified sponsors in their respective market niche. Weston had demonstrated its expertise in value-added industrial assets, and we are excited to be working with them,” said Peter Stelian, managing principal at Blue Vista. Weston is a commercial real estate company established by Tony Asher in 1972 with the purchase and redevelopment of several industrial properties. Weston offers acquisition, leasing and management services. Currently managed by Edward, T.J. and Jamey Asher, the Company’s portfolio has grown to more than 10 million square feet of industrial, office and retail space in more than 75 properties in nine states. Weston manages each of its industrial properties and maintains relationships with 450 tenants primarily in the Midwest and Southeast. Weston is growing quickly and is poised for geographical expansion and diversification. Founded in 2002 in Chicago, Blue Vista co-invests with acquirers and developers of all real property types across the United States and in select international markets. Through its Sponsor Equity series of Funds, Blue Vista provides co-investment capital (sponsor equity), majority equity capital and bridge equity capital to its sponsors. To date, Blue Vista has participated in joint ventures representing more than $2.5 billion in total capitalization. Western Reserve Partners LLC is a boutique investment banking firm that provides customized investment banking solutions for middle-market companies. The firm’s managing directors collectively have more than 160 years of experience and have directly executed more than 500 transactions and managed more than 1,300 transactions. For more information, visit www.wesrespartners.com. For more information, please contact Victor Faris at (216) 589-9531 |
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