SOURCE: American Realty Advisors

American Realty Advisors

May 20, 2011 18:30 ET

American Realty Advisors Announces the Acquisition of 203,779 Square Foot Industrial Building and Adjacent Six-Acre Parcel of Land in San Diego

GLENDALE, CA--(Marketwire - May 20, 2011) - American Realty Advisors announced today the acquisition of Ocean Ranch Distribution Center, a highly functional 203,779 square foot facility and an adjacent six-acre parcel of land located in a master-planned industrial park in the growing north San Diego MSA. The transaction was executed on behalf of one of American's value-added commingled funds and represents a joint venture with Alliance Commercial Partners.

Built in 2004, the industrial building is functional with features including a 135-foot to 280-foot truck concrete court, minimum 30-foot clear heights with 13 existing dock-high doors (expandable), and 4,000-amp service at 277-480 volts. The investment is representative of the firm's value-added investment strategy with the end goal of repositioning the property into a stabilized income-producing core asset.

"Given the functional flexibility of Ocean Ranch and its location in a region with growing demand for industrial space, American expects a quick lease-up of this high-quality facility. North San Diego is extremely supply-constrained for larger industrial assets similar to this property and we anticipate being able to create and realize significant value at the property through our intensive management, ultimately redelivering a well-leased core asset to a market where demand for this type of property is high," said Kirk Helgeson, American's EVP/Executive Managing Director, Investments.

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 approximately $3.7 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 Alliance Commercial Partners
Alliance Commercial Partners is a privately held real estate operating and investment company, creating significant capital appreciation for its investors through strategic value-added acquisition, development, capitalization, repositioning, and management of real estate assets throughout the United States. In twelve years, Alliance has invested approximately $1.93 billion in 138 properties totaling over 20 million sq. ft. Alliance is headquartered in suburban Denver, with regional offices in Los Angeles and Chicago. Additional information is available at www.alliancecp.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.

*Assets under management represent gross market value of all assets and accounts managed by American Realty Advisors as of March 31, 2011, which includes cash and cash equivalents and excludes partners' share of equity and debt on partnership investments.

Contact Information

  • Contact:
    Jay Butterfield
    818/409-3243

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