SOURCE: American Realty Advisors

May 02, 2007 11:16 ET

American Realty Advisors Provides Mezzanine Financing for Office Plaza in Santa Clara, CA

GLENDALE, CA -- (MARKET WIRE) -- May 2, 2007 -- American Realty Advisors announced today the origination of a mezzanine loan secured by a 223,799 square foot, three-building office property located in Santa Clara County, in the core of Silicon Valley, California. The Property has convenient access to Highways 101 and 237 and the Great America Parkway and is situated in the Golden Triangle, home to both established and start-up technology companies. The Property is leased to a diverse roster of quality tenants.

The transaction was arranged by Steve Bram and David Pascale, Jr. of George Smith Partners and executed on behalf of one of American's commingled funds. The sponsor, DJM Acquisitions Group, LLC, had recently closed on the transaction and in completing the final equity raising process determined that American's financing program was a superior alternative, allowing DJM greater certainty in closing the deal at competitive terms. DJM is a very active investor in the Silicon Valley area and had a previous relationship with American.

Stanley Iezman, President and Chief Executive Officer of American, stated, "The mezzanine financing provided by American demonstrates our ability to offer creative financing solutions to experienced local operators. The Property will be substantially renovated in order to reposition it to capitalize on a resurging Silicon Valley office market and to attract a wide variety of tenants. We expect to generate solid gains for our investors over the duration of our holding period due to the Property's superior location and expected increase in overall rent growth in the surrounding market."

American Realty Advisors 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 $4.1 billion* in assets under management, American has provided innovative real estate solutions to institutional investors for over 18 years utilizing core and value-added commingled funds and separate accounts. The firm's portfolios include office, industrial, multi-family, and retail properties nationwide. Information regarding American can be found online at www.americanreal.com.

* As of December 31, 2006, assets under management represent 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 $762 million in commitments not drawn.

Contact Information

  • Contact:
    Joyce Ezaki
    818/409-3280

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