FOR IMMEDIATE RELEASE

Press Contacts:
Laci Bates
Atlas Properties
Laci@AtlasProps.com 817/924.9780

Atlas Properties Acquires the 47 Fisher Condominium Project in Kansas City
FORT WORTH, Texas (July 29, 2010)- Atlas Properties has acquired 17 condominium units in 47 Fisher located near KU Medical Center in Kansas City from a bank that previously foreclosed on the property. The purchase is Atlas Properties' fourth Kansas City area acquisition in 2010. In May, Atlas purchased the Liberty Lofts, a luxury condo property located in the Crossroads and Union Station neighborhood. Atlas also purchased two historical redevelopment projects in the Crossroads, one of which is the 105,000 sq ft Pabst-Pendergast building.

47 Fisher is a class A 17 unit redevelopment project that started in 2009 but was ultimately foreclosed on by a regional bank. The entire building was upgraded with new plumbing, electrical service, fire sprinkler systems, new windows, new HVAC systems, and exterior stucco. Located at the corner of 47th and Fisher St, the property is convenient to KU Med Center, downtown Kansas City, and the Plaza. Renovations are about 80% complete. Atlas plans on completing the project by adding amenities such as granite countertops, crown molding, travertine tile, a fenced in secure parking lot, and other higher end finish outs. Atlas will also pursue LEED certification for the project.

Fort Worth based Atlas Properties will manage the project from its Kansas City office and aims to lease and/or sell the units. The units will be priced from $99,000- $135,000 and lease for $750-1,200. Buyers will also have the ability to customize their units by choosing different countertop options, kitchen backsplashes, tile designs, paint colors, and custom fixtures.
"We are excited to add another condo building in Kansas City to our existing holdings," said David Blake, Regional Project Manager at Atlas Properties. "We view this as a unique investment opportunity because of our ability to provide a high end product at an affordable price.” “There are not a lot of higher end units near KU Med Center,” said Blake.

About Atlas Properties
Atlas Properties was founded in 2004 and has grown by managing, owning, syndicating, and developing residential, commercial, and mixed-use properties throughout the United States, with Dallas-Fort Worth being its primary market. Atlas also provides real estate syndication, management, and brokerage services. A few of Atlas’ recent acquisitions include an 18- story mixed-use high rise in downtown Fort Worth and 56 units in the Piazza Siena condominiums in Dallas. Atlas was recently ranked the 123rd fastest growing private company in the US according to Inc. Magazine.