SOURCE: American Realty Advisors

July 18, 2007 17:31 ET

American Realty Advisors Acquires Waldorf Marketplace Phase II in Washington, D.C. Suburb

GLENDALE, CA--(Marketwire - July 18, 2007) - American Realty Advisors announced today the acquisition of Waldorf Marketplace Phase II, a newly constructed 153,357 sf Class A retail shopping center located approximately 15 miles south of the Capital Beltway (I-495) in Waldorf, Maryland. The property is anchored by major, national retail tenants including TJ Maxx/Home Goods, DSW, and Kincaid Home Furnishings and includes two out-parcels ground leased to TGI Fridays and Mimi's Café. The property complements Waldorf Marketplace Phase I, a Safeway-anchored community shopping center that American purchased in 2005. The property was acquired on behalf of one of American's commingled funds.

Greg Blomstrand, Principal and Managing Director, Portfolio Management, commented, "This transaction completes our investment strategy to assemble the ownership of Waldorf Marketplace Phase I & II. The combination of the two outstanding retail properties is anticipated to provide a synergy and efficiency that will be accretive to the returns, while affording flexibility in an exit strategy by allowing for the separation of the properties if deemed beneficial."

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 $4.3 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, and retail properties nationwide. Information regarding American can be found online at www.americanreal.com.

* Estimated as of March 31, 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 $575 million in undrawn commitments.

Contact Information

  • Contact:
    Joyce Ezaki
    818/409-3280

Multimedia