SOURCE: American Realty Advisors

December 06, 2007 18:04 ET

American Realty Advisors' Newport Corporate Tower Wins Prestigious TOBY Award

GLENDALE, CA--(Marketwire - December 6, 2007) - American Realty Advisors' Newport Corporate Tower is the local recipient of the Orange County Building Owners and Managers Association's ("BOMA") TOBY Award for Office Building of the Year for 2007 in the 100,000 - 249,999 square feet category. This nine-story office building features 189,452 square feet of Class-A office space and a dramatic 60-foot atrium lobby. The Property is located in Newport Beach, California, the most desirable city within the Greater Airport Area submarket, and is owned on behalf of one of American's institutional pension fund clients.

Created in 1985, The Office Building of the Year TOBY Award is the most distinguished program of its kind in the commercial real estate industry, recognizing excellence in building management, operational efficiency, tenant/employee relations, emergency planning, and community impact. The competition begins at the BOMA local association level, winning entries advance to the regional level, and regional winners advance to the international level.

Stanley Iezman, President and Chief Executive Officer of American, stated, "This award is a tangible recognition of our dedication to achieving the highest degree of excellence. The combined efforts of PM Realty's Newport Beach Property Management Team and American's Asset and Portfolio Management Teams have proven that a creative and aggressive leasing program and high-level management and operation standards can produce recognition for this flagship property."

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 $4.4 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, retail and other properties nationwide. Information regarding American can be found online at

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.

* Estimated as of June 30, 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 $479 million in undrawn commitments.

Contact Information

  • Contact:
    Joyce Ezaki