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Contact: Joyce Ezaki
818/409-3280
AMERICAN REALTY ADVISORS ACQUIRES
2999 OAK ROAD IN THE SAN FRANCISCO BAY AREA
GLENDALE, Calif. -- (Market Wire) -- September 27, 2007 - American
Realty Advisors announced today that it has acquired 2999 Oak Road
(formerly known as Vodafone Plaza), a 201,028 square foot premier
Class-A office building located just east of San Francisco in Walnut
Creek, California. This high profile office property was recently
awarded the EPA's highly esteemed ENERGY STAR® award for superior
environmental performance. It also features a five-level parking
garage, on-site amenities and restaurant, and outstanding panoramic
views of Mount Diablo. 2999 Oak Road enjoys excellent visibility
from Interstate 680 and is adjacent to the Embassy Suites, Renaissance
ClubSport Hotel and other Pleasant Hills BART transit-oriented developments
("TOD"). The Property's roster of major credit tenants
includes Vodafone, Basic American Foods, and McDonald's USA. This
transaction was completed on behalf of one of American's commingled
funds.
Greg Blomstrand, Principal and Managing Director, Portfolio Management,
at American stated, "This acquisition was driven by our confidence
in the Bay Area economy as well as our belief that TODs in technology-driven
markets will outperform general office investment benchmarks over
our intended investment period. In addition, we expect the redevelopment
of the adjacent Pleasant Hills BART Station will enhance an already
strong amenity base available to our tenants."
American Realty Advisors, a California corporation, 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 $4.4 billion* in assets
under management, American has provided innovative real estate solutions
to institutional investors for over 19 years utilizing core and
value-added commingled funds and separate accounts. The firm's portfolios
include office, industrial, multi-family, and retail properties
nationwide.
* Estimated as of June 30, 2007, representing 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 $479 million in undrawn commitments.
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