SOURCE: American Realty Advisors

November 16, 2006 17:39 ET

American Realty Advisors Provides Mortgage Financing for St. Johns Town Center North in Jacksonville, Florida

GLENDALE, CA -- (MARKET WIRE) -- November 16, 2006 --American Realty Advisors announced today the funding of a loan to finance St. Johns Town Center North, a brand new Class A community shopping center located at the interchange of I-295 and J. Turner Butler Boulevard, at the hub of Jacksonville's high-end retail, office and residential developments. The Property encompasses 98,900 square feet and is located adjacent to the existing St. Johns Town Center, a newly built, mixed-use development. Anchored by one of Florida's dominant grocers, the Property also has three out-parcels ground leased to Sun Trust, AmSouth, and Applebee's. The transaction was executed on behalf of one of American's commingled real estate funds.

"This investment represents an excellent opportunity to capitalize on the long-term success and stability of an exceptional, well-located core real estate property in an outstanding trade area," stated Scott Darling, Principal and Managing Director of Portfolio Management at American. He added, "We fully intend to benefit from the current robust growth of the Jacksonville MSA, as well as the substantial cross-merchandising opportunities provided by the adjacent St. Johns Town Center property, one of the nation's most successful lifestyle centers."

American Realty Advisors is a SEC-registered investment advisor and a leading provider of real estate investment management services to institutional investors. With more than $3.8 billion* in assets under management, American has provided real estate investment management services to institutional investors for over 18 years utilizing core and value-added commingled funds and separate accounts. The Firm's portfolios include office, industrial, multi-family, and retail properties nationwide. Information regarding American can be found online at www.americanreal.com.

*As of June 30, 2006, assets under management represent 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 $784 million in commitments not yet drawn.

Contact Information

  • Contact:
    Joyce Ezaki
    818/409-3280

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