EVOQ Properties Announces Disposition of Nine Non-Core Assets

EVOQ Properties Announces Disposition of Nine Non-Core Assets

LOS ANGELES--(BUSINESS WIRE)-- EVOQ Properties, Inc. (OTC - EVOQ.PK), a publicly owned real estate firm headquartered in Downtown Los Angeles, today announced the disposition of nine non-core assets located throughout Southern California. The sales all occurred in 2012.

The sales included the Union Lofts building in Downtown Los Angeles; 2415 Washington Boulevard, 5707 South Alameda Street, 1000 East Cesar Chavez Boulevard, 718 Jackson Street and 644 Gladys Avenue, which are industrial buildings in Los Angeles; a parking lot at 648 Stanford Street in Los Angeles; and two vacant land sites in Covina and Sylmar.

Total gross proceeds from the sales were $55.4 million. A portion of the net proceeds was used to retire approximately $35.8 million of secured debt.

"EVOQ's strategy is to strategically dispose of non-core assets, refocus our efforts and re-invest in our properties with significant value-add potential in Downtown Los Angeles," said Martin Caverly, CEO of EVOQ Properties.

About EVOQ Properties Inc.

EVOQ is one of the largest property owners in downtown Los Angeles, with holdings in industrial, office, retail, residential, and mixed-use real estate. For additional information on EVOQ and its properties, please visit the Company's website at EvoqProperties.com.

Forward Looking Statements

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as "anticipate," "continues," "expect," "forecast," "outlook," "believe," "estimate," "should" and "will" and words of similar effect that convey future meaning, concerning the Company's operations, economic performance and management's best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release.

Grayling for EVOQ Properties
Christie Ly
Mobile: 213-268-1136

KEYWORDS:   United States  North America  California


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