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Contact: Joyce Ezaki
818/409-3280
AMERICAN REALTY ADVISORS PROVIDES FINANCING FOR
WAIKOLOA LAND INVESTMENT IN WAIKOLOA, HI
GLENDALE, Calif. - April 20, 2007 - American Realty Advisors announced
today the origination of a senior loan to fund the proposed entitlement
of retail, hotel, and multi-family projects on 45 acres located
at the entrance to Waikoloa Village on the island of Hawaii. The
Property is located between the town of Waimea and the upscale Kohala
Gold Coast resort communities and enjoys superior views of the Pacific
Ocean. This transaction was executed on behalf of one of American's
commingled funds.
Kirk Helgeson, Principal and Managing Director, Investments stated,
"We are pleased to provide financing for the acquisition of
one of the last available commercial development sites in the world-renowned
Kohala Gold Coast region. The site's flexible zoning provides 'by
right' ability to develop several asset types within a master-planned
community to service area residents and tourists alike. Based on
historic and projected population growth and the upgrade/completion
of the Saddle Road connecting East and West Hawaii, there is unmet
demand for the proposed asset types to be developed on the site."
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.
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