MIG Real Estate Acquires 116,000-Square-Foot Desert Inn Office Center

    NEWPORT BEACH, CA, June 16, 2011 /24-7PressRelease/ -- MIG Real Estate, a Newport Beach, Calif.-based real estate investment company formerly known as Stoneridge Capital Partners, has acquired Desert Inn Office Center, a 116,000-square-foot business park comprised of four multi-tenant office buildings. This is the firm's fourth Las Vegas acquisition since October 2010. Terms of the sale were not disclosed.

"There is significant 'upside' potential in the Las Vegas market." said Greg Merage, chief executive officer of MIG Real Estate.

Desert Inn Office Center is leased to a diverse mix of tenants within the business services, communications and nonprofit sectors. The property is also strategically located within an emerging medical corridor near the Desert Orthopedic Center and Sunrise Hospital.

"The continued growth of the medical corridor provides the unique opportunity to offer competitively priced office space to the region's healthcare providers," said Merage.

Located at 2725-2795 Desert Inn Road, Desert Inn Office Center is situated 1.5 miles from Sunrise and Desert Springs Hospitals and is three miles east of the U.S. 95.

Since entering the Las Vegas market in October 2010, MIG has assembled a portfolio of assets that includes the 100,000-square-foot Sunset Pilot Plaza property in the Hughes Center, the 99,000-square-foot Vista Commons retail center in Summerlin and the 152,000-square-foot Rainbow Corporate Center.

Charles Moore, Christina Roush and Marlene Fujita with CB Richard Ellis represented the seller. MIG Real Estate represented itself.

MIG Real Estate has completed approximately $300 million in acquisitions over the past two years, acquiring properties in California, Arizona, Nevada, Colorado, Hawaii and Edmonton, Alberta.

About MIG Real Estate
MIG Real Estate owns and operates a diverse portfolio of assets in California, Phoenix, Las Vegas, Hawaii, Denver and Edmonton, Alberta. The firm is currently engaged in an aggressive expansion strategy, seeking value added and opportunistic investment opportunities in select service hotels, grocery anchored shopping centers, office, industrial and multifamily properties. MIG Real Estate has acquired approximately 2 million square feet totaling more than $300 million of assets since April 2009. MIG Real Estate is the real estate arm of MIG Capital (Merage Investment Group), an alternative investment firm that also encompasses MIG Absolute Return and MIG Private Equity. Additional information is available at http://www.migcap.com/RealEstate/.

About MIG Capital (Merage Investment Group)
MIG Capital (Merage Investment Group) is an alternative investment firm dedicated to the creation and preservation of capital. Founded by the Merage family, wealth creators committed to the highest levels of integrity, MIG Capital applies an entrepreneurial mindset combined with a highly disciplined approach. MIG Capital and its affiliates have more than $1 billion in assets under management in three principal areas: MIG Absolute Return, MIG Private Equity and MIG Real Estate. Substantial investment of family capital in all asset classes ensures full alignment with MIG investors. Additional information is available at www.migcap.com.

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