IMC COMPLETES ACQUISITION
OF FIVE  HIGH POINTPROPERTIES

HIGH POINT, NC – International Market Centers, L.P. (IMC), the operator of High Point showroom space, has completed the acquisition of five buildings here. IMC's total investment in the High Point and Las Vegas now totals $1 billion.

The most recent purchase includes Showplace, Showplace West and three North Hamilton Street. Financial details of the transactions, which were initially announced on May 3, 2011, were not disclosed.

 The IMC package unites Las Vegas and many of the High Point home furnishings showrooms under one ownership group and management team. 

 IMC's portfolio now comprises 18 buildings totaling more than 11.5 million sq. ft. It  includes the International Home Furnishings Center, the Market Square Complex (consisting of eight properties), Showplace, Showplace West and three North Hamilton Street showroom venues in High Point as well as all of the World Market Center buildings in Las Vegas.  

"We are pleased that this unprecedented combination of properties is complete, and that these attractive assets have come together under one structure and management team," said Robert Maricich, chief executive officer of International Market Centers.

"With the addition of these five facilities to our portfolio, we can now focus on our primary mission - creating the most effective, efficient and compelling platform for our industry.  We look forward to working with our business partners to develop a world-class business-to-business platform for both buyers and sellers in the furnishings, home décor and gift industries."

IMC made its management debut with  the Las Vegas Market and Gift+Home, Aug.1 to 5. The company's first involvement at High Point Market will be Oct. 22 to 27, 2011.

08.02.11