AmREIT Grows Its Portfolio of Irreplaceable Corners and Expands Its Presence in Atlanta, Georgia

HOUSTON--(BUSINESS WIRE)--AmREIT, Inc., announced today the purchase of Brookwood Village, a CVS anchored shopping center in the prestigious Buckhead district in Atlanta, Georgia on Peachtree Road, directly across from the Piedmont Hospital and the front door to the affluent Brookwood community.

H. Kerr Taylor, AmREIT’s CEO, commented: “We have been an owner, developer and re-developer of shopping centers in the Southeast U.S. for over a decade and we believe the market cycle is propitious for us to expand our presence in Atlanta. For over a quarter of a century our focus has been to own, manage and create value on what we call “Irreplaceable Corners”—affluent, densely populated submarkets within major, gateway cities. Brookwood Village meets our stringent criteria and we look forward to improving it so it can better serve the community in which it is located.”

Brookwood Village is a 28,777 square foot multi-tenant retail complex that is 96% leased and occupied. The shopping center is anchored by CVS, which is ranked as the top performing CVS in all of Georgia. The center is also home to tenants such as FedEx/Kinko's, Subway and Sprint PCS. Brookwood Village is located at a signalized intersection in an infill location with high barriers to entry and a dense daytime and nighttime population which produces traffic count of over 39,000 cars per day. The shopping center benefits from over 138,000 people living within a three-mile radius of the property with an average household income of over $115,000 within the same three-mile radius. In addition, the daytime population from corporate employers exceeds 164,000.

Tenel Tayar, AmREIT's Chief Investment Officer, said: “Our goal is to be the predominant owner/operator of premium grade shopping center and mixed use properties in the five major markets in which we serve. Our pipeline of potential acquisitions in the Atlanta market is robust and we look forward to announcing other transactions in the near future. It was a pleasure working with CB Richard Ellis once again to bring Brookwood into our family of Irreplaceable Corners.”

About AmREIT, Inc.

AmREIT is a full-service, vertically integrated and self-administered real estate investment trust that owns, operates, acquires and selectively develops and redevelops primarily high-quality neighborhood and community shopping centers located in high-traffic, highly populated, affluent areas with significant barriers to entry - which we refer to as Irreplaceable Corners^TM. Our shopping centers are typically anchored by strong national and local retailers including supermarket chains, drug stores and other necessity-based retailers with the remaining tenant base comprised predominantly of specialty retailers. During our 27-year history, we have been active in 19 states and are currently focused in the high growth submarkets of Houston, Dallas, San Antonio, Austin and Atlanta, which collectively represent five of the top twelve population and job growth markets of the United States. As of March 31, 2011 we owned a portfolio of 26 wholly-owned properties which were approximately 93% leased as well as 20 properties owned through our affiliated partnerships with a combined value approaching $1 billion.

For more information, call Chad C. Braun, AmREIT, at [phone]. AmREIT is online at www.amreit.com.