"Although Crestmark produced very good financial results for us,its location does not fit into our long-term growth strategy,"Charles R. Elliott, the firm's chief financial officer, says in aprepared statement. "We intend to redeploy the net cash proceeds of$7.9 million into new properties as part of a Section 1031tax-deferred exchange and we expect the yield and long-term growthto be greater in the new properties than for Crestmark."

The $25 million sales price exceeded the price shown on thecompany's net asset value schedule published in July 2000 and againin July 2001, Elliott says. Roberts Properties Inc., a non-ownedaffiliate of Roberts Realty Investors, developed and builtCrestmark.

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