EXHIBIT 99.18
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AT THE TRUST
Robert G. Higgins
312/683-5539
[email protected]
FOR IMMEDIATE RELEASE
FRIDAY, JULY 28, 2000
FINANCIAL ADVISORY COMMITTEE OF BANYAN STRATEGIC REALTY TRUST
ANNOUNCES AUTHORIZATION OF EXPANDED MARKETING EFFORTS
CHICAGO, JULY 28, 2000 - The Financial Advisory Committee of the Board of
Trustees of Banyan Strategic Realty Trust (Nasdaq:BSRTS) today announced
that as part of its previously announced review of strategic alternatives
for the Trust, it has authorized its financial advisor, CFC Advisory
Services, an affiliate of Cohen Financial, a Chicago-based real estate
investment banking firm, to initiate a marketing effort designed to solicit
bids for the Trust's properties in whole, bulk sales or individually.
Larry Schafran, chairman of the Committee, commented that, "This is the
next step in our process of evaluating our portfolio and determining
disposition strategies designed to enhance shareholder value and
liquidity."
Banyan Strategic Realty Trust is an equity Realty Estate Investment Trust
(REIT) that owns primarily office and flex/industrial properties. These
properties are located in certain major metropolitan areas of the Midwest
and Southeastern United States, including Atlanta, Georgia and Chicago,
Illinois and smaller markets such as Huntsville, Alabama, Louisville,
Kentucky, Memphis, Tennessee, and Orlando, Florida. The Trust's current
portfolio consists of 27 properties totaling 3.5 million rentable square
feet. As of this date, the Trust has 14,202,414 shares of beneficial
interest outstanding.
SEE BANYAN'S WEBSITE AT http:www.banyanreit.com.
FOR FURTHER INFORMATION REGARDING BANYAN FREE OF CHARGE VIA FAX,
DIAL 1-800-PRO-INFO AND ENTER "BSRTS".
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