AmeriVest to Liquidate

AmeriVest Properties Inc., a Denver-based real estate investment trust, has announced the approval by its board of directors of a plan to liquidate the company.AmeriVest said it estimates that liquidating distributions will be paid over a period of six to 24 months and that stockholders could receive $4.20-$4.80 per share in total distributions over that period. "With the adoption and implementation of this plan, we will be asking our shareholders to approve the process of monetizing value from the 12 properties currently owned by the company in Dallas, Phoenix, and Denver," said Charles Knight, the company's president and chief executive officer. AmeriVest said it has retained Trammell Crow Co. to serve as real estate adviser and broker in connection with the plan. The REIT can be found online at http://www.amvproperties.com.