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Needham, MA

March 12, 2010

Murphy McManus and Partners Sell Pearl Street Medical Center

Murphy McManus, LLC announced today that it has sold Pearl Street Medical Center in Brockton, MA to Atlantic-Philadelphia Realty LLC, an affiliate of Atlantic Management Corporation of Framingham, MA.

Murphy McManus, lead partner of One Pearl, LLC, purchased the then vacant building in 2002. It successfully redeveloped, expanded, and repositioned the facility into a vibrant, multidisciplinary medical office park. In total, the campus encompasses three buildings on 10 acres with just over 100,000 square feet of first-class medical offices and 500 parking spaces.

Pearl Street Medical Center is located one half mile from Caritas Good Samaritan Medical Center near the intersection of Routes 24 and 27. The Medical Center is now occupied by a strategic complement of practices and services including primary care and specialty physician groups, pediatrics, endoscopy, physical therapy, radiology, laboratory, cardiac testing, and pharmacy. The building is anchored by tenants with long-term leases providing a stable tenancy with strong and predictable operating income.

"Murphy McManus is very proud of the successful transformation of the Pearl Street Medical Center," said Bob Murphy, Principal of Murphy McManus. "With our partners and great tenants, we feel that we have positioned the facility to serve the medical needs of the community for many years to come."

"Atlantic Management is pleased to acquire such a strong asset with so many thriving tenants," said Joseph Zink, President and CEO of Atlantic Management. "Without question, the Pearl Street Medical Center is one the largest and busiest medical office building campuses on the entire South Shore. In the years to come, we will continue to invest in the facility to ensure it continues to be one of the leading medical campuses south of Boston."

Both Buyer and Seller were represented by Cushman & Wakefield's New England Medical / Academic Practice Group led by Robert Griffin and Frank Nelson.

About Murphy McManus, LLC

Murphy McManus is a Needham, MA-based developer of health care and life science environments for companies and institutions on the leading edge of clinical and scientific innovation. Murphy McManus provides comprehensive real estate services, from strategic planning and financial analysis to development management and project control to joint venture ownership and off-balance sheet financing.

About Atlantic Management Corporation

Formed in 1972, Atlantic Management provides investors with long-term capital growth through conservatively structured real estate investments. Atlantic Management Corporation currently owns and manages a portfolio in excess of 3.4 million square feet of property throughout New England.