GLENDALE, CA -- (Marketwire) -- 04/27/12 -- American Realty Advisors, a leading provider of real estate investment management services for institutional investors, announced today the acquisition of two 100% leased quality industrial buildings located in the Los Angeles MSA. The transactions were executed on behalf of one of American's separate account clients to acquire the properties through a joint venture formed with CT Realty Investors.
Victoria Industrial is a 101,724 SF single-tenant industrial building located on 4.18 acres of land in the heart of the South Bay submarket, a prime submarket in the Southern California industrial market due to its close proximity to the ports of Los Angeles and Long Beach. The property is conveniently located near the 91, 710, 405 and 110 freeways, and further benefits from its highly-functional design, including 20 dock-high loading positions, 22-24 foot clear heights and 7,124 SF of office space.
14300 Bonelli Street is a 133,237 SF, single-tenant industrial building located on 6.58 acres of land, ideally-situated near the 60 and 605 freeways in the San Gabriel Valley, one of the top-performing industrial markets in Southern California. The property features a 100-205 foot truck court, 22 foot clear heights, rail access and 6,760 SF of office space.
American's Chairman and CEO, Stanley L. Iezman, stated, "Backed by strengthening industrial production in the U.S., in-fill submarkets within Southern California appear to be positioned for strong near-term and long-term growth. We believe the acquisition of this two-property industrial portfolio in one of the nation's top-performing industrial MSAs will likely generate superior returns for our client and is consistent with the firm's commitment to enhancing our client's portfolios with strategically-located high-quality assets."
American Realty Advisors
American is an investment advisor registered with the U.S. Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940, as amended, and a leading provider of real estate investment management services to institutional investors. With over $4.5 billion* in assets under management, American has provided real estate investment management services 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, and retail properties nationwide. Information regarding American can be found online at www.americanreal.com.
CT Realty Investors
Since its establishment in 1994, Aliso Viejo, Calif.-based CT Realty Investors ("CTRI") has completed more than 220 transactions with value in excess of $2.5 billion through a series of 11 independent discretionary private equity real estate funds and institutional joint ventures. CTRI continues to invest in institutional-quality industrial properties, debt instruments and multi-family properties. CTRI seeks to invest on behalf of its affiliates in Arizona, Colorado, New Mexico, Nevada, Oregon, Utah, Washington and California. The focus of CTRI's investment activities is to acquire well-located assets in major markets with the potential to enhance their value through a solid, hands-on management approach. For further information, contact Carter Ewing at CT Realty Investors at (949) 330-5777 or visit www.ctrinvestors.com.
*Assets under management represent approximate gross market value of all assets and accounts managed by American as of December 31, 2011 which includes cash and cash equivalents and excludes partners' share of equity and partners' share of debt on partnership investments.