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Oaks Development Group Acquires Medical Office Building in Punta Gorda, Florida
Date:4/25/2008

PUNTA GORDA, Fla., April 25 /PRNewswire/ -- North Carolina-based Oaks Development Group announced today the company closed on Cypress Professional Center, 25097 Olympia Avenue, in Punta Gorda, Florida. The 29,927-square-foot Class A medical office building is located near Charlotte Regional Medical Center and currently includes an established cardiology practice. The building is being converted to Oaks' unique tenant-ownership model.

Oaks' hybrid structure is set up as a single purpose limited liability company (L.L.C.). Tenant partners split 50 percent ownership interest based on how much space they occupy. While there is no capital outlay required for pro rata ownerships, tenant partners have first right of refusal on an additional 25 percent ownership through equity investment. Oaks retains only 25 percent ownership and is responsible for professionally managing the asset over the long term. Tenant partners receive distributions of operations profits as well as refinancing profits.

RJ King & Associates' principal Bob King, CCIM, is exclusive broker for the Oaks' project in Punta Gorda. King can be reached at 813.874.1515 or rjking@rjkingassociates.com. "Oaks brings almost 30 years of medical office development success to Florida. Its model aligns the interests of landlords and their physician tenants to the benefit of both, providing tenants ownership in the properties without capital investment," says King.

As a testament to Oaks' long-range vision, the company has built and acquired 42 assets and retained them all in its portfolio. Over the years, Oaks has carefully structured its model to minimize costs and maximize returns on the assets it owns for its partners.
Such refinements include:

-- limiting partner risk by starting to build only after 50 percent of the

building is pre-leased;

-- requiring a minimum of five parking spaces for every 1,000 square feet

of building;

-- focusing on
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SOURCE Oaks Development Group
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