American Realty Advisors Announces the Acquisition of Industrial Complex in In-Fill Phoenix, Arizona Submarket
(firmenpresse) - GLENDALE, CA -- (Marketwire) -- 10/18/11 -- American Realty Advisors, a leading provider of real estate investment management services to institutional investors, announced today the acquisition of Normal Junction, a 140,314 SF, two-building, multi-tenant industrial portfolio located on two parcels totaling 7.22 acres in the South East Phoenix/Tempe submarket of the greater Phoenix metropolitan area. The transaction was executed on behalf of one of American's value-added commingled funds and represents a joint venture with BlackRidge Real Estate Group.
Normal Junction benefits from its functional design including 140-foot truck court, 21 to 25-foot clear heights with 23 dock-high doors and minimal office build-out or specialized improvements. The investment is representative of the firm's value-added investment strategy with the end goal of repositioning the property into a stabilized income-producing core asset.
Kirk Helgeson, American's EVP/Executive Managing Director, Investments stated, "American anticipates a strong economic recovery and an increase in demand for industrial properties in the historically high-growth Sunbelt markets. Considering the scarcity of land for industrial developments in the Tempe submarket coupled with the high cost to develop shallow bay, dock-high product, we anticipate being able to create and realize significant value when rental rates eventually recover and demand from middle market tenants rebounds."
, 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 over $4.0 billion* in assets under management, American has provided innovative real estate solutions to institutional investors for over 23 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
is a full-service real estate company that manages, develops and acquires leased and value-add industrial warehouse properties. With offices in Los Angeles and Denver, the firm is comprised of principals with decades of experience in development, asset management, brokerage and construction. The firm's portfolio of current projects totals over 3 million square feet and includes investments and developments in Arizona, California, Florida and Virginia.
*Assets under management represent the gross market value of all assets and accounts managed by American Realty Advisors as of June 30, 2011 which includes cash and cash equivalents and excludes partners' share of equity and debt on partnership investments.
Image Available:
Jay Butterfield
818/409-3243
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 18.10.2011 - 18:30 Uhr
Sprache: Deutsch
News-ID 1047327
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
GLENDALE, CA
Phone:
Kategorie:
Other Professional Services
Anmerkungen:
Diese Pressemitteilung wurde bisher 155 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"American Realty Advisors Announces the Acquisition of Industrial Complex in In-Fill Phoenix, Arizona Submarket
"
steht unter der journalistisch-redaktionellen Verantwortung von
American Realty Advisors (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
