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[KOGER LOGO]
Exhibit 99
KOGER EQUITY, INC.
8880 Freedom Crossing Trail
Jacksonville, Florida 32256
(904) 732-1000
N E W S
KOGER EQUITY ANNOUNCES THE SALE OF TULSA OFFICE PARK
JACKSONVILLE, FLORIDA, June 6, 2000 - Koger Equity, Inc. (NYSE:KE) announced the
sale of its office park in Tulsa, Oklahoma, on June 1, 2000, for $29.3 million
to KWIRP-TULSA ASSOCIATES, L.P. The Tulsa Koger Center, begun by Koger in 1974,
consists of 13 office buildings containing 581,100 feet.
Thomas J. Crocker, Chief Executive Officer of Koger, said, "While this property
has been successful for the Company over the years, the sale reflects our
strategy to sell certain of our mature, developed office parks. The proceeds
from the sale will initially be used to pay down short term debt."
Last year Koger completed construction of six office buildings consisting of
630,400 feet in five markets and purchased four additional buildings totaling
508,600 feet in two markets. This year, Koger has completed six office buildings
totaling 579,200 feet in five markets and has two additional buildings under
construction, which total 180,900 feet.
Koger Equity is a Jacksonville, Florida-based real estate investment trust that
owns and operates properties in 14 southeastern and southwestern cities.
