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Contact: Joyce Ezaki
818/409-3280
AMERICAN REALTY ADVISORS'
NEWPORT CORPORATE TOWER WINS
PRESTIGIOUS TOBY AWARD
GLENDALE, Calif. -- (Market Wire) -- December 6, 2007 - American
Realty Advisors' Newport Corporate Tower is the local recipient
of the Orange County Building Owners and Managers Association's
("BOMA") TOBY Award for Office Building of the Year for
2007 in the 100,000 - 249,999 square feet category. This nine-story
office building features 189,452 square feet of Class-A office space
and a dramatic 60-foot atrium lobby. The Property is located in
Newport Beach, California, the most desirable city within the Greater
Airport Area submarket, and is owned on behalf of one of American's
institutional pension fund clients.
Created in 1985, The Office Building of the Year TOBY Award is
the most distinguished program of its kind in the commercial real
estate industry, recognizing excellence in building management,
operational efficiency, tenant/employee relations, emergency planning,
and community impact. The competition begins at the BOMA local association
level, winning entries advance to the regional level, and regional
winners advance to the international level.
Stanley Iezman, President and Chief Executive Officer of American
stated, "This award is a tangible recognition of our dedication
to achieving the highest degree of excellence. The combined efforts
of PM Realty's Newport Beach Property Management Team and American's
Asset and Portfolio Management Teams have proven that a creative
and aggressive leasing program and high-level management and operation
standards can produce recognition for this flagship property."
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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