Alexan Back Beach, Panama City Beach, FL - Engler Financial Group Exclusive Offering

ATLANTA, GA--Engler Financial Group, LLC is proud to present Alexan Back Beach, (top left photo) an upscale 360-unit apartment community located in Panama City Beach, Bay County, Florida. Built in 2007, Alexan Back Beach offers market-leading community amenities and an outstanding location near Simon's new Pier Park regional mall, major employers, and pristine Gulf of Mexico beaches.

Alexan Back Beach is being offered for sale on an unpriced basis and represents an excellent opportunity to purchase a Class “A+” apartment community in one of the Florida Panhandle's fastest growing markets. The operations at the property continue to excel. Alexan Back Beach is currently 99.4% leased and 93.3% occupied. Concessions continue to decline since stabilizing.

Alexan Back Beach benefits from its ideal location along Panama City Beach Parkway (U.S. Highway 98), the region's primary east-west thoroughfare. The Property has outstanding proximity to all major employers in the region, including Tyndall Air Force Base, Naval Support Activity, Bay Medical Center, and Sprint-Nextel.

Alexan Back Beach is located approximately five miles east of the Pier Park regional lifestyle center, an upscale retail shopping and entertainment venue recently developed by Simon Property Group along U.S. Highway 98. Pier Park is the premier retail environment serving Panama City Beach and the entire Florida Panhandle. Expected to draw millions of visitors a year from more than 100 miles away, Pier Park will be the only venue of its kind in the Panhandle and the only significant restaurant site along U.S. Highway 98.

The relocation of the Panama City International Airport (scheduled to open in May 2010) to a new $300 million facility is expected to have a major economic impact on Bay County. Located within the 1,400 acre West Bay development approximately ten miles north of Alexan Back Beach, the new Northwest Florida Beaches International Airport will greatly enhance accessibility and tourism to Panama City Beach.

A major recent announcement was the St. Joe Company's decision to relocate its corporate headquarters to the West Bay development in Bay County. The new St. Joe headquarters will be located within Phase 1 of the West Bay Sector Plan near the entrance of the new international airport. The Company will be consolidating offices from Jacksonville, Tallahassee, Port St. Joe, and South Walton County into the new location. Construction of the 50,000 square foot Class “A” multi-tenant office building is scheduled to begin summer 2010, with relocation of the Company's headquarters and personnel by summer 2011.

. If you have an interest in pursuing this outstanding investment opportunity, please execute an electronic Confidentiality Agreement on Peracon.

If you have any questions or would like to schedule a tour of Alexan Back Beach, please contact Greg Engler or Pat Jones. We look forward to working with you on this exciting opportunity.


Contacts:
Greg Engler, CEO/President, 678/992-2000, ext. 1, gengler@efgus.com
 Pat Jones, Senior Vice President, 678/992-2000, ext. 2, pjones@efgus.com
 Kris Mikkelsen, Senior Associate, 678/992-2000, ext. 4, kmikkelsen@efgus.com