B.Riley Financial Inc. (RILY)

[Hegotgame]

NEW YORK, Jun 04, 2013 (BUSINESS WIRE) -- GA Keen Realty Advisors, a division
of Great American Group, Inc. (OTCBB: GAMR), sold the 48,250-square-foot office
building in Cedar Falls, Iowa, that once served as the corporate headquarters to
Peregrine Financial Group.

The buyer, Spiegel Family Realty Company Iowa, LLC, emerged as the successful
bidder at an auction conducted by GA Keen Realty Advisors with a winning bid of
$3,255,000. The successful bid was $505,000 over the accepted stalking-horse
bid. The closing is expected to occur in June.

"We are pleased with this sale and the process GA Keen
Realty Advisors ran. We had outstanding interest in the property with numerous
groups requesting additional information and inspecting the property. The
auction came down to two buyers and Spiegel Family Realty Company was ultimately
the successful bidder," said Michael M. Eidelman, the
Court appointed receiver and co-chair of the bankruptcy group at Vedder Price
P.C.

"We're hoping to find a tenant or tenants to bring some jobs back to the
community and to the building," said A.J. Spiegel, owner and president of
Spiegel.

Mr. Eidelman expressed great satisfaction with the speed and efficiency of GA
Keen Realty Advisors' marketing efforts.

"I retained GA Keen Realty Advisors on February 22,
2013, and they successfully brought me a $2,750,000 stalking horse contract
within eight weeks," said Eidelman.
"The stalking horse, California-based Karlin Real
Estate, LLC, agreed to buy the property subject to
overbids."

GA Keen Realty Advisors thereafter solicited overbids, and according to
Eidelman: "successfully maximized the value of this
property."

The building is the former headquarters of Peregrine Financial Group (PFG),
owned by Russell Wasendorf, Sr., which filed for bankruptcy in July 2012.

About GA Keen Realty Advisors, LLC

GA Keen Realty Advisors, located in New York, provides real estate analysis,
valuation and strategic planning services, brokerage, M&A, auction services,
lease restructuring services and real estate capital market services. For more
information about GA Keen Realty Advisors, call [phone] or visit
http://www.greatamerican.com/keen.

About Great American Group, Inc. (OTCBB: GAMR)

Great American Group is a leading provider of asset disposition and auction
solutions, advisory and valuation services, capital investment, and real estate
advisory services for an extensive array of companies. A trusted strategic
partner at every stage of the business lifecycle, Great American Group
efficiently deploys resources with sector expertise to assist companies,
lenders, capital providers, private equity investors and professional service
firms in maximizing the value of their assets. The company has in-depth
experience within the retail, industrial, real estate, healthcare, energy and
technology industries. The corporate headquarters is located in Woodland Hills,
Calif. with additional offices in Atlanta, Boston, Charlotte, N.C., Chicago,
Dallas, Melville, N.Y., New York, Norwalk, Conn., San Francisco, London, Milan
and Munich. For more information, call [phone] or visit
www.greatamerican.com.


http://cts.businesswire.com/ct/CT?id=bwnews&sty=20130604005360r1&sid=cmtx6&distro=nx

SOURCE: Great American Group, Inc.




CONTACT:
Great American Group
Michelle Kahan, Director of Marketing
818-884-3737
[e-mail]
or
Mulberry Marketing Communications
Christina Bereta, Account Executive
312-664-1532
[e-mail]




Copyright Business Wire 2013

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KEYWORD: United States

North America

California

Iowa

New York

INDUSTRY KEYWORD: Professional Services

REIT

Consulting

Finance

Construction & Property

Commercial Building & Real Estate

SUBJECT CODE: Contract/Agreement