SOURCE: American Realty Advisors

American Realty Advisors

February 03, 2011 19:30 ET

American Realty Advisors Announces the Acquisition of a Nine Building Industrial Park in Chandler, Arizona

GLENDALE, CA--(Marketwire - February 3, 2011) - American Realty Advisors announced today the acquisition of 10 Chandler Industrial Park, an approximately 553,000 square foot Class A industrial park comprised of nine buildings, either built or fully renovated in 2008, located on 37 acres in Chandler, Arizona. The transaction was executed on behalf of one of American's commingled funds and represents a joint venture with Alliance Commercial Partners. The seller, Lincoln Property Company, will continue to serve as Chandler's property manager.

The property is ideally situated in the southeast submarket in the Greater Phoenix MSA and benefits from its functional design and unsurpassed visibility, with nearly 1,150 feet of frontage along Interstate 10, enhancing the property's marketability to prospective clients.

"As the economy continues to recover and businesses begin to add jobs to the region we anticipate a growing need for industrial space in the Greater Phoenix MSA. Given the changing economic landscape and Chandler's attractive price, American expects to be able to market the vacant space at favorable terms relative to competitive product and eventually reposition the property into a core asset," 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 more than $3.5 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 $1.84 billion in 134 properties totaling over 18.6 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 September 30, 2010, including cash and cash equivalents, and excluding partners' share of equity and debt on partnership investments.

Contact Information

  • Contact:
    Jay Butterfield
    818/409-3243

Multimedia