GLENDALE, CA -- (Marketwire) -- 08/15/08 -- American Realty Advisors announced today theacquisition of two high-quality, multi-tenant industrial parkstotaling 358,910 square feet. They are located in two of the nation's bestperforming industrial markets: the South Bay of Los Angeles and NorthOrange County in Southern California. Broadway Center Business Park, a189,714 square foot four-building, industrial property located in Gardena,California, offers tenants exceptional access to Los Angeles County's portsand transportation infrastructure. Walnut Avenue Industrial Park, a169,196 square foot six-building, multi-tenant property located inFullerton, California, is situated at the junction of the 91 and 57freeways and enjoys excellent functionality and close proximity to adiverse labor force. Both properties were fully leased at acquisition andhave enjoyed a long history of high occupancy. These acquisitions werecompleted on behalf of one of American's commingled funds.Greg Blomstrand, Principal and Managing Director of Portfolio Management atAmerican, stated, "Los Angeles County and Orange County are two of thenation's strongest industrial markets. We believe that both properties arewell-positioned to continue their solid performance due to limited landsupply and construction activity, the smaller tenant nature of theseproperties, and the close proximity to workforce and executive housing.Each of these properties offer excellent upside opportunity to increaseoperating income as current below-market rents can be adjusted to marketupon lease rollover. These premier industrial properties are expected togenerate solid returns for our investors over the long-term."
American Realty Advisors, a California corporation, is an SEC-registeredinvestment advisor under the Investment Advisers Act of 1940 and a leadingprovider of real estate investment management services to institutionalinvestors. With more than $4.4 billion* in assets under management,American has provided innovative real estate solutions to institutionalinvestors for over 20 years utilizing core and value-added commingled fundsand separate accounts. The firm's portfolios include office, industrial,multi-family, retail and other properties nationwide. Information regardingAmerican can be found online at www.americanreal.com.
Forward-Looking Statements: This press release may containforward-looking statements within the meaning of the federal securitieslaws. Forward-looking statements are statements that do not representhistorical facts and are based on our beliefs, assumptions made by us, andinformation currently available to us. Forward-looking statements in thispress release are based on our current expectations as of the date of therelease, which could change or not materialize as expected. Actual resultsmay differ materially due to a variety of uncertainties and risk factors.Except as required by law, we assume no obligation to update any suchforward-looking statements.
*Assets under management represent gross value of all assets and accountsmanaged by American as of June 30, 2008 (excluding partners' share ofequity and partner's share of debt on partnership investments).
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