American Land Lease to consider strategic alternatives

By Lisa Kerner

Charlotte, N.C., July 8 - American Land Lease, Inc.'s board of directors is considering a broad range of strategic alternatives to enhance shareholder value, it was announced on Tuesday.

Management was authorized to determine investor interest in the purchase of some or all of the company's real estate assets with the assistance of Wachovia Capital Markets, LLC, according to an American Land Lease news release.

American Land Lease cautioned that there can be no assurance that the process will result in any strategic or financial transaction.

The company plans to comment on the process if and when the board approves a specific alternative.

American Land Lease is a Clearwater, Fla., real estate investment trust.

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