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Contact: Joyce Ezaki
818/409-3280
AMERICAN REALTY ADVISORS ACQUIRES
150 NORTH WACKER DRIVE IN CHICAGO, ILLINOIS
GLENDALE, Calif. -- (Market Wire) -- October 2, 2007 - American
Realty Advisors announced today that it has acquired 150 North Wacker
Drive, a thirty-one story, 233,225 square foot office building located
on the east bank of the Chicago River in the prestigious West Loop
submarket, historically the strongest submarket in the Chicago Central
Business District ("CBD"). The property features an attractive
river-level patio, building conference room, sundry shop, and a
150-car valet parking garage. The property is strategically located
one block from Ogilvie Northwestern Station and two and a half blocks
from Union Station, providing quick and convenient transportation
to downtown Chicago. This transaction was completed on behalf of
one of American's commingled funds.
Stanley Iezman, President and Chief Executive Officer of American
stated, "This is a well- leased asset in an outstanding CBD
location with commanding city views. The property possesses solid
fundamentals geared to attract a diversified tenant base of professional
service firms, investment companies, and corporate satellite offices.
The property's accessibility to nearly every form of the local mass
transit system exemplifies our commitment to environmental consciousness
and sustainability as well as seeking to generate strong performance
for our clients."
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, retail and other properties
nationwide. Information regarding American can be found online at
www.americanreal.com.
Forward-Looking Statements: This press release may contain forward-looking
statements within the meaning of the federal securities laws. Forward-looking
statements are statements that do not represent historical facts
and are based on our beliefs, assumptions made by us, and information
currently available to us. Forward-looking statements in this press
release are based on our current expectations as of the date of
the release, which could change or not materialize as expected.
Actual results may differ materially due to a variety of uncertainties
and risk factors. Except as required by law, we assume no obligation
to update any such forward-looking statements.
* 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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