SOURCE: American Realty Advisors

American Realty Advisors

November 09, 2010 11:00 ET

American Realty Advisors Acquires Jasmine Distribution Center in Inland Empire

GLENDALE, CA--(Marketwire - November 9, 2010) - American Realty Advisors announced today that it has acquired Jasmine Distribution Center, a soon-to-be-renovated 402,539 square feet industrial warehouse/distribution property in Fontana, California. The property is well located in the heart of the Inland Empire, widely considered to be the logistics capital of North America, with immediate access to the I-10, I-15 and CA-60. The property features 30-foot clear heights with 50 dock-hi doors, excess trailer parking and 22,000 square feet of office space.

The property will initially be managed under the firm's value-added investment strategy with the end goal of repositioning the property into a stabilized income-producing core asset. American will initiate the first phase of rehabilitation shortly, which will largely consist of addressing immediate deferred maintenance needs and the installation of an EFSR fire sprinkler system, which will enhance the property's curb appeal and marketability to tenants. The transaction was executed on behalf of one of American's commingled funds and represents a joint venture with BlackRidge Real Estate Group, LLC.

Kirk Helgeson (EVP/Executive Managing Director, Investments) at American, stated, "The Jasmine transaction provided us with a prime opportunity to buy into a rising market at an attractive price. Once the rehabilitation program is completed, we believe that the property will be solidly positioned to compete with other Class A industrial assets in the Inland Empire West submarket and to garner interest from potential tenants."

About American Realty Advisors
American Realty Advisors, a California corporation, is an SEC-registered investment advisor under the Investment Advisers Act of 1940, as amended, and a leading provider of real estate investment management services to institutional investors. With more than $3.3 billion* in assets under management, American has provided innovative real estate solutions to institutional investors for over 22 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. More information regarding American can be found online at www.americanreal.com.

About BlackRidge Real Estate Group
BlackRidge Real Estate Group is a full-service real estate company that manages, develops and acquires leased and value-add industrial warehouse properties. With offices in Los Angeles and Denver, the firm is comprised of principals with decades of experience in development, asset management, brokerage and construction. The firm's portfolio of current projects totals over 3 million square feet and includes investments and developments in Arizona, California, Florida and Virginia.

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.

*Assets under management represent gross value of all assets and accounts managed by American as of June 30, 2010 (excluding partner's share of equity and partner's share of debt on partnership investments).

Contact Information

  • Contact:
    Jay Butterfield
    818/409-3243

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