MARCUS & MILLICHAP CLOSES SALE OF TWO NORTH CAROLINA BEST BUY STORES FOR $14 MILLION
         
Winston-Salem, NC (October 9, 2003) -- Marcus & Millichap Real Estate Investment Brokerage Company, the nation’s largest real estate investment brokerage firm, recently announced the sale of two North Carolina Best Buy electronics stores. The two assets, located in high-growth areas of Greensboro and Winston-Salem, commanded a combined sales price of $14,222,252 with a 7.85 percent market capitalization rate. Al Taf, a senior associate in Marcus & Millichap’s Atlanta office, was awarded the exclusive listing to market the property for the seller, Germania of America (GOA), an institutional syndicator acting on behalf of its European investor pool. GOA, founded in 1983, is an Atlanta-based privately owned real estate investment company.