AmeriVest Properties Files Liquidation Proxy.

DENVER -- AmeriVest Properties Inc. (AMEX:AMV), a real estate investment trust serving small to medium-size office tenants, announced today that it filed its preliminary proxy statement, related to its plan of liquidation (the "Plan") announced on Feb. 9, 2006, with the Securities and Exchange Commission ("SEC"). Copies of the preliminary proxy statement are available on the Company's website at: www.amvproperties.com.

The proxy statement describes the Company's plan of liquidation, under which, upon stockholder approval, the Company's remaining 12 office properties will be sold and proceeds distributed to stockholders. The Company anticipates that offers on all or portions of the portfolio will be due approximately two weeks after stockholder approval of the Plan at the Company's annual meeting. Detailed information regarding the properties is expected to be available at least 30 days before the call for offers. A date for the Annual Meeting has not yet been set, pending the outcome of the SEC review process. Therefore, the Company cannot determine exactly when offers on the portfolio will be due.

All 12 properties are listed with Trammell Crow Company. The sales process is being managed through Trammell Crow's Denver office. Persons interested in making offers on all or some of the properties should contact Steve Suechting, Executive Vice President, Trammell Crow Company, at 303-224-6366 or [e-mail].

Charles Knight, CEO of AmeriVest, stated: "We are pleased to have filed our preliminary proxy and to have commenced the initial marketing for these high-quality buildings. There has been considerable interest in the portfolio and in particular buildings within the portfolio from numerous parties. We have communicated or delivered all expressions of interest to Trammell Crow, and interested parties have been advised of the process and the expected timing. The Board of Directors of the Company will consider offers only in response to a call for offers after stockholder approval of the Plan. As we have said previously, the adoption of the Plan was the culmination of a lengthy and thoughtful process by our Board. The sale of our remaining properties will also follow a process which has been reviewed and approved by our Board and is fully described in our preliminary proxy. Our goal is to maximize the value achieved for all stockholders in liquidation through a fair, open and complete marketing and sales process, conducted in an orderly and professional manner. We and our advisors intend to follow that process and expect that interested bidders will do so as well, since it benefits them by providing a level playing field."

Company Information

AmeriVest Properties Inc., with its principal office in Denver, Colorado, provides Smart Space for Small Business(TM) in Denver, Phoenix, and Dallas through the acquisition, repositioning and operation of multi-tenant office buildings in those markets. To receive AmeriVest's latest news and information, visit our website at www.amvproperties.com.

Additional Information about the Plan of Liquidation and Where to Find It

In connection with the proposed Plan, the Company has filed relevant materials with the Securities and Exchange Commission (the "SEC"), including a proxy statement. Investors and security holders of the Company are urged to read these materials because they contain important information about the Company and the Plan. The proxy statement and other relevant materials and any other documents filed by the Company with the SEC may be obtained free of charge at the SEC's website at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by the Company by contacting Becky Nichols, AmeriVest Investor Relations, at [e-mail] or 303-297-1800, ext. 104, or accessing the Company's website at www.amvproperties.com. Investors and security holders are urged to read the proxy statement and the other relevant materials before making any voting or investment decision with respect to the Plan.

Proxies may be solicited on behalf of the Company by members of its Board of Directors and executive officers. Information about such persons can be found in the Company's proxy statement relating to its 2005 Annual Meeting of Stockholders, which was filed with the SEC on May 19, 2005, and may be obtained free of charge at the SEC's website at www.sec.gov or at the Company's website at www.amvproperties.com.

This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

In addition to historical information, this press release contains forward-looking statements and information under federal securities laws. These statements are based on expectations, estimates and projections about the industry and markets in which AmeriVest operates, management's beliefs and assumptions made by management. While AmeriVest management believes the assumptions underlying its forward-looking statements and information are reasonable, such information is necessarily subject to uncertainties and may involve certain risks, many of which are difficult to predict and are beyond management's control. As such, these statements and information are not guarantees of future performance, and actual operating results may differ materially from what is expressed or forecasted in this press release. In particular, the factors that could cause actual operating results to differ materially include, without limitation, continued qualification as a real estate investment trust, the effects of general and local economic and market conditions, competition, regulatory changes, the ability to enter into new leases or renew leases on favorable terms, dependence on tenants' financial condition, the uncertainties of real estate development and acquisition activity, development and construction costs, insurance risks, the costs and availability of financing, potential liability relating to environmental matters and liquidity of real estate investments and other risks and uncertainties detailed in AmeriVest's 2005 Annual Report on Form 10-K and from time to time in the Company's filings with the Securities and Exchange Commission.