SOURCE: American Realty Advisors

American Realty Advisors

June 29, 2011 17:00 ET

American Realty Advisors Announces the Acquisition of 305,585 SF Office Building in Houston's Prestigious Energy Corridor

GLENDALE, CA--(Marketwire - Jun 29, 2011) - American Realty Advisors announced today the acquisition of Energy Center II, a 12-story LEED Gold-Certified Class A office building and adjacent eight-level parking garage prominently located in the heart of the Energy Corridor submarket in Houston, Texas. Located within a deed-restricted park-like setting, the extensively landscaped 305,585 SF property is situated on nearly 4.4 acres and benefits from unsurpassed accessibility and visibility, including immediate frontage along Interstate 10. The property was acquired from its developer, a venture of Trammell Crow Company and Principal Real Estate Investors, on behalf of one of American's commingled real estate funds.

Built in 2008, the state-of-the art building is designed to meet the needs of the 21st Century office user maintaining the superior standards of energy efficiency and sustainability including: highly-functional floor layouts, automatic temperature controls, water-saving plumbing fixtures and computer-monitored HVAC and lighting systems. The property is currently 100% leased and its 94 ENERGY STAR® rating and LEED Gold Certification are expected to make it strongly competitive in attracting prospective tenants in the foreseeable future.

"Energy Center II is an outstanding core asset with durable income and appreciation potential. Houston's robust economy, which continues to outperform national levels, combined with an overall increase in national demand for energy and oil production, a premier location in the supply-constrained Energy Corridor and a roster of quality tenants all contribute to the potential for this asset to outperform over our anticipated investment period," stated Stanley Iezman, American's Chairman and CEO.

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.

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 the 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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