Realty Capital's Affiliated Investment Company Purchases Maitland Exchange; Launches Sales for Maitland's Sole Office Condo Conversion Project

ORLANDO, Fla. (June 1, 2006) -- Realty Capital’s affiliated real estate investment company – RealtyFund, LLC -- purchased the Maitland Center Exchange office building earlier this year, has converted the building into office condominiums and, beginning June 5, has launched the public sale of the condos, which are currently the only spaces of its kind in fast-growing Maitland.  Including this project, Realty Capital is now managing more than 300,000 square feet of commercial condo conversions in the region – making it a leader in this commercial real estate services niche.

Maitland Center Exchange, located at 668-670 North Orlando Avenue (Hwy 17-92), totals 57,713 square feet, with each space averaging about 1,600 square feet.  Approximately 36 units are for sale.  Major capital improvements are planned, and Realty Capital will manage the property.  Firm principals involved in the project believe the condos will attract everyone from investors who will lease out the space, to ‘spinoff employees’ of professional service firms who want to start their own companies.  “The condos offer a maintained building and convenient parking as each space has its own entrance off the parking area; the interior space is turnkey, and the location is ideal … no crossing I-4 and it’s adjacent to the Broad Street Partner’s new residential and commercial development,” said Realty Capital Vice President Quentin Caruso, CCIM.  For more information on the condos, contact Jason Bantel or Quentin Caruso at 407.843.7070 or visit www.maitlandexchange.com. 

The commercial condo conversion wave comes at a time when thousands of new residential condos are popping up throughout the region and when the number of start-up businesses in the region exceeded 57,500 last year.

In addition to this property, Realty Capital (in partnership with FlexxSpace Management and FlexxSpace Condos) is managing the conversions of commercial condominiums for ownership at the Sunport Commerce Center near Sand Lake Road and the Crossroads Business Center on S.R. 436 in Winter Park. 

About Realty Capital – Realty Capital., is one of the largest privately held full service commercial real estate brokerages based in Orlando, Florida and operating in the seven-county Central Florida region.  The firm consists of three divisions -- brokerage, property management and development services – and has a 40-member professional staff.  Realty Capital has national and international capabilities through its affiliation with TCN Worldwide, a global network of firms in more than 210 markets worldwide with over 1,200 brokers.