Hayman Company Acquires Landmark Philadelphia Office Building.

Business Editors

TROY, Mich.--(BUSINESS WIRE)--April 18, 2002

Andrew E. Hayman, Vice President of The Hayman Company, and Adam M. Lutz, Managing Member of Royalton Investment Group, are pleased to announce the closing of the first in a series of Joint-Venture Acquisitions of

Atlantic Investors, LLC is pleased to announce their acquisition of The Atlantic Building located at 260 Broad Street in Philadelphia, PA. The recently restored Atlantic Building is an impressive art deco, twenty-one story, 320,000 square foot, office and retail building located in the heart of Center City Philadelphia's Avenue of the Arts District. The Atlantic Building is located adjacent to two impressive performing arts facilities (1) the country's newest performing arts complex, the dramatic $255 million Kimmel Center for Performing Arts and (2) Philadelphia's historic Academy of Music.

With high visibility on Center City Philadelphia's Broad Street, The Atlantic Building is home to two of Philadelphia's major restaurants on the ground floor, Ruth Chris Steak House and Neil Stein's Avenue B Restaurant. The office building has moderate size floor plates, 15,537 square feet, that offers tenants an attractive size for single-floor users, unique to Philadelphia's office market. Andrew Hayman said, "We are excited about the long-term stability that the property represents due to the diversified and strong tenant roster. The major tenants at the property include a health care related company, Philadelphia Health & Management Corporation (PHMC), law firm, Klehr, Harrison, Harvey, Branzburg & Ellers, LLP, the Philadelphia Orchestra, a world-renowned engineering firm, DMJM+HARRIS a division of AECOM, and the architecture firm, Agoos/Lovera.

The Hayman Company is one of the nations largest privately owned real estate companies providing management, leasing, brokerage, advisory and real estate accounting services to the institutional and private investors. In addition, The Hayman Company owns and manages apartments, offices and hotels throughout the United States. The Hayman Company was founded in 1965.