SOURCE: American Realty Advisors

October 15, 2008 14:22 ET

American Realty Advisors' Office Building Receives Distinguished Los Angeles BOMA TOBY Award

GLENDALE, CA--(Marketwire - October 15, 2008) - American Realty Advisors, a national real estate investment advisor, announced that 200 South Los Robles Avenue, a premier office building in Pasadena, California, is the recipient of the Los Angeles Building Owners and Managers Association's ("BOMA") TOBY Award for Office Building of the Year for 2008 in the 100,000 - 249,999 square feet category. The six-story building features 130,818 square feet of Class-A office space and is 94% leased to a roster of exceptional tenants. American acquired the Property in 2006 on behalf of one of the firm's commingled funds.

Created in 1985, The Office Building of the Year TOBY Award is the most distinguished and comprehensive award 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, "The recognition of this property shows our dedication to the highest standards of asset management. The collaborative work of American and property manager PM Realty Group demonstrates that a committed strategy to providing first-rate management and operations to a fully-leased slate of quality tenants produces an exceptional asset, as shown with this achievement."

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 20 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 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 gross value of all assets and accounts managed by American as of June 30, 2008 (excluding partners' share of equity and partners' share of debt on partnership investments).

Contact Information

  • Contact:
    Joyce Ezaki
    818/409-3280

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