SOURCE: American Realty Advisors

December 21, 2007 15:03 ET

American Realty Advisors Acquires Great America Tech Center in Santa Clara, California

GLENDALE, CA--(Marketwire - December 21, 2007) - American Realty Advisors announced today the acquisition of Great America Tech Center, a 120,200 square foot office property in Santa Clara, California. This Class-A property consists of two single-story office buildings and one two-story office building and is 100% leased to three innovative technology tenants: Net Optics, Stoke, Inc. and Atheros Communications. Great America Tech Center is located just minutes from San Jose International Airport and downtown San Jose with convenient access to US 101 and Highway 237 via Great America Parkway. Originally built in 1979, the Property interiors were fully renovated in 1999 and exteriors were renovated in 2006 with new entrances and roofs, a modernization of the site walkways and lighting, and a redesigned landscaping and signage program. The current transaction was completed on behalf of one of American's commingled funds.

Greg Blomstrand, Principal and Managing Director at American, stated, "This acquisition was driven by American's belief that the Bay Area and other technology-driven markets should outperform the national office benchmark in the medium-term. We believe that the property will generate strong returns due to its strategic location in the prestigious Lake Marriott Business Park and strong growth in the greater Santa Clara market."

American Realty Advisors, a California corporation, is an SEC-registered investment advisor under the Investment Advisers Act of 1940 and a leading provider of real estate investment management services to institutional investors. With more than $4.6 billion* in assets under management, American has provided innovative real estate solutions to institutional investors for over 19 years utilizing core and value-added commingled funds and separate accounts. The firm's portfolios include office, industrial, multi-family, retail and other properties nationwide. Information regarding American can be found online at www.americanreal.com.

Forward-Looking Statements: This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are statements that do not represent historical facts and are based on our beliefs, assumptions made by us, and information currently available to us. Forward-looking statements in this press release are based on our current expectations as of the date of the release, which could change or not materialize as expected. Actual results may differ materially due to a variety of uncertainties and risk factors. Except as required by law, we assume no obligation to update any such forward-looking statements.

* Estimated as of September 30, 2007, representing gross value of all assets and accounts managed by American (excluding partners' share of equity and partners' share of debt on partnership investments) plus approximately $345 million in undrawn commitments.

Contact Information

  • Contact:
    Joyce Ezaki
    818/409-3280

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