PRESS RELEASE

December 15, 2009
For more information, contact:
Neil Albritton
561-966-0070, ext. 15

Noble Properties purchases a portfolio of four Applebee’s restaurants in the Mid-Atlantic area.

December 15, 2009, GREENACRES, FLORIDA – Noble Properties closed today on a portfolio of four Applebee’s restaurants all located in the Mid-Atlantic area: Richmond and Hampton Virginia; Martinsburg West Virginia and Cumberland Maryland.

Each property was subject to a long term lease with rental increases throughout the term. There is about 19 years remaining on the leases. The leases are completely triple NNN with no management responsibilities whatsoever.

Each restaurant was well seasoned with at least 4 years of strong sales and in excellent locations. The sale was an all cash transaction with no financing contingency and with a 30 day due diligence followed by an immediate closing.

Noble Properties is a South Florida based owner with over 3,000,000 square feet of retail and medical office space, including 17 single tenant triple net properties. They are actively seeking to acquire shopping centers and medical office buildings throughout the Southeast, Southwest and Mid-Atlantic regions. The primary focus for retail is on food anchored centers in major metro areas with at least 50,000 people in a 3 mile radius. The focus for medical office is for deals at least 30,000 square feet in major metro areas and located either on the campus of a hospital or near one or more major hospitals.