MAM Realty Advisors, LLC to launch Real Estate Fund

August 18, 2004 -- The fund's target capitalisation is US$50 million.

The fund will also consider niche investment opportunities outside the region, in Mexico and Arizona that have the potential to deliver significant returns and also help diversify the overall fund portfolio.

Francisco Martin, President and Founder of MAM Group, Inc. described the launch of the Fund as timely as it coincides with the rapid development of regional real estate and property markets.

'We have been able to create a very investor friendly fund, which targets drawdown of just 25 percent of the commitments upon subscription. The rest of the drawdown will happen depending on demands for project investments over a four year commitment period from the initial closing date of November 30, 2004,' he said.

The initial minimum commitment obligation for investors to subscribe to the Fund is US$1 million.

'The Fund's investment objective is to achieve superior returns by making investments in a diversified portfolio of real estate developments and structured real estate investment opportunities in the region. We have got some major regional players in real estate as our partners and this gives us a huge leverage when identifying or getting into deals,' he added.

Mr. Martin said that the Fund is expected to invest the larger part of its capital in mixed use and residential related projects and a lesser part in office, retail and industrial developments. The Fund aims to take up positions across the region and manage a diverse portfolio ranging from early stages of projects to structured deals, including securitisation at the later stages.

'The Fund intends to make five to 10 investments and targets an internal rate of return of 15 per cent. We are looking at a final closing for the Fund by the end of this year,' he pointed out.



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