EX-99
2
ex99pressrelease.htm
PRESS RELEASE
EXHIBIT 99 - PRESS RELEASE
CENTURY REALTY TRUST
BUCKINGHAM PROPERTIES, INC.
320 N. Meridian St., Suite 823
333 N. Pennsylvania St. - 10
th
Floor
Indianapolis, IN 46204
Indianapolis, IN 46204
Contact:
John I. Bradshaw, Jr.
Contact: Bradley B. Chambers
Phone:
(317) 632-5467
Phone:
(317) 974-1234
FAX:
(317) 685-1588
FAX:
(317) 974-1238
FOR IMMEDIATE RELEASE
CENTURY REALTY TRUST AND BUCKINGHAM COMPANIES ANNOUNCE COMPLETION OF ASSET TRANSACTION
Century Realty Trust and Buckingham Companies announced that the sale of substantially all of the Trust's assets to Buckingham closed yesterday. The Trust will use the net proceeds and other available cash for distributions to shareholders after retiring the Trust's indebtedness, paying the expenses of the transaction, making distributions to certain minority holders of certain of the Trust's properties and establishing a reserve for contingencies.
On August 30, 2006, the shareholders of the Trust approved the sale of its 17 properties to Buckingham and a plan of liquidation. The Trust now intends to distribute the remaining proceeds of sale of the properties as quickly as it reasonably can in two or more dividends.
Murray R. Wise, Chairman of the Board of Trustees, said, "We are delighted that we could respond to the wishes of our shareholders by the sale of Century Realty Trust's assets to Buckingham, one of our long-time property managers. We know from experience that our many tenants will continue to enjoy the high quality services that they have had in the past".
Mr. Bradley B. Chambers, President of Buckingham Companies, added, "We are excited about the addition of Century Realty Trust's assets to our portfolio. We have plans for extensive capital reinvestment in many of the properties which we believe will provide value creation over the long term".
Century Realty Trust is a real estate investment trust based in Indianapolis, Indiana. Century has 1,806,324 outstanding shares traded on the NASDAQ Capital Market under the symbol CRLTS. Buckingham is a full-service real estate company that develops, acquires, constructs, owns and manages multifamily apartments, mixed use properties, commercial assets and land for residential development. Buckingham manages approximately 12,000 multifamily housing units and 176,000 square feet of commercial space and employs 400 people.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
To the extent the Trust makes certain "forward-looking statements" in this press release, such as statements about future plans, goals and other events which have not yet occurred, such statements are intended to qualify for the safe harbors from liability provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified because they include words such as the Company "believes", "anticipates", "expects" or words of similar import. These forward-looking statements involve risks and
uncertainties and the actual results could differ materially from those discussed in the forward-looking statements. These risks and uncertainties include, without limitation, risks associated with fluctuations in interest rates, departures of the Trust's headquarters personnel, and the loss of the Trust's status as real estate investment trust for tax purposes. You should consider these risks and factors and the impact they may have when you evaluate these forward-looking statements. These statements are based only on the Trust's knowledge and expectations on the date of this press release. The Company disclaims any duty to update these statements or other information in this press release based on future events or circumstances.
Indianapolis, IN, October 26, 2006

EX - 99 2 ex99pressrelease . htm PRESS RELEASE EXHIBIT 99 - PRESS RELEASE CENTURY REALTY TRUST BUCKINGHAM PROPERTIES , INC . 320 N. Meridian St. , Suite 823 333 N. Pennsylvania St. - 10 th Floor Indianapolis , IN 46204 Indianapolis , IN 46204 Contact : John I . Bradshaw , Jr . Contact : Bradley B. Chambers Phone : ( 317 ) 632 - 5467 Phone : ( 317 ) 974 - 1234 FAX : ( 317 ) 685 - 1588 FAX : ( 317 ) 974 - 1238 FOR IMMEDIATE RELEASE CENTURY REALTY TRUST AND BUCKINGHAM COMPANIES ANNOUNCE COMPLETION OF ASSET TRANSACTION Century Realty Trust and Buckingham Companies announced that the sale of substantially all of the Trust 's assets to Buckingham closed yesterday . The Trust will use the net proceeds and other available cash for distributions to shareholders after retiring the Trust 's indebtedness , paying the expenses of the transaction , making distributions to certain minority holders of certain of the Trust 's properties and establishing a reserve for contingencies . On August 30 , 2006 , the shareholders of the Trust approved the sale of its 17 properties to Buckingham and a plan of liquidation . The Trust now intends to distribute the remaining proceeds of sale of the properties as quickly as it reasonably can in two or more dividends . Murray R . Wise , Chairman of the Board of Trustees , said , " We are delighted that we could respond to the wishes of our shareholders by the sale of Century Realty Trust 's assets to Buckingham , one of our long - time property managers . We know from experience that our many tenants will continue to enjoy the high quality services that they have had in the past " . Mr . Bradley B. Chambers , President of Buckingham Companies , added , " We are excited about the addition of Century Realty Trust 's assets to our portfolio . We have plans for extensive capital reinvestment in many of the properties which we believe will provide value creation over the long term " . Century Realty Trust is a real estate investment trust based in Indianapolis , Indiana . Century has 1,806,324 outstanding shares traded on the NASDAQ Capital Market under the symbol CRLTS . Buckingham is a full - service real estate company that develops , acquires , constructs , owns and manages multifamily apartments , mixed use properties , commercial assets and land for residential development . Buckingham manages approximately 12,000 multifamily housing units and 176,000 square feet of commercial space and employs 400 people . SPECIAL NOTE REGARDING FORWARD - LOOKING STATEMENTS To the extent the Trust makes certain " forward - looking statements " in this press release , such as statements about future plans , goals and other events which have not yet occurred , such statements are intended to qualify for the safe harbors from liability provided by the Private Securities Litigation Reform Act of 1995 . Forward - looking statements can generally be identified because they include words such as the Company " believes " , " anticipates " , " expects " or words of similar import . These forward - looking statements involve risks and uncertainties and the actual results could differ materially from those discussed in the forward - looking statements . These risks and uncertainties include , without limitation , risks associated with fluctuations in interest rates , departures of the Trust 's headquarters personnel , and the loss of the Trust 's status as real estate investment trust for tax purposes . You should consider these risks and factors and the impact they may have when you evaluate these forward - looking statements . These statements are based only on the Trust 's knowledge and expectations on the date of this press release . The Company disclaims any duty to update these statements or other information in this press release based on future events or circumstances . Indianapolis , IN , October 26 , 2006