JZCP acquires landmark property in West Palm Beach

JZCP ACQUIRES LANDMARK PROPERTY IN WEST PALM BEACH, FLORIDA

04 August 2016

JZ Capital Partners Limited (LSE:JZCP.L or “JZCP”), the London listed fund that invests in US and European micro-cap companies and US real estate, alongside its long-term real estate partner, RedSky Capital, LLC (“RedSky”) and The Clark Estates, has acquired Esperante Corporate Centre (“Esperante”), a landmark office building in West Palm Beach, Florida.

Located at 222 Lakeview Avenue in downtown West Palm Beach, Esperante sits at the gateway to the island of Palm Beach, providing tenants with easy access to beachfront residential neighbourhoods and local amenities alike.

The acquisition represents JZCP’s first investment in West Palm Beach, further diversifying the geographic concentration of JZCP’s South Florida real estate portfolio. The purchase price of the property was $125.8 million, of which JZCP provided $18.6 million.

David Zalaznick, JZCP’s Founder and Investment Adviser, commented: “We are delighted to add this property to our growing and diversified real estate portfolio in South Florida.

Esperante is a unique asset in a very desirable location in West Palm Beach, which has seen an influx of high-quality corporate employers and a concurrent increase in demand for prime office space.”

Ends

For further information:

Ed Berry / Kit Dunford FTI Consulting	[phone]
David Zalaznick Jordan/Zalaznick Advisers, Inc.	[phone]
Paul Le Ray JZ Capital Partners	[phone]

About JZCP

JZCP is a London listed fund which invests in US and European micro-cap companies and US real estate. Its objective is to achieve an overall return comprised of a current yield and capital appreciation. JZCP receives investment advice from Jordan/Zalaznick Advisers, Inc. (“JZAI”) which is led by David Zalaznick and Jay Jordan. They have worked together for 30 years and are supported by teams of investment professionals in New York, Chicago, London and Madrid. JZAI’s experts work with the existing management of micro-cap companies to help build better businesses, create value and deliver strong returns for investors. JZCP also invests in mezzanine loans, first and second lien investments and other publicly traded securities. For more information please visit www.jzcp.com