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Contact: Joyce Ezaki
818/409-3280
AMERICAN REALTY ADVISORS ACQUIRES
GREAT AMERICA TECH CENTER IN SANTA CLARA, CALIFORNIA
GLENDALE, Calif. -- (Market Wire) -- December 21, 2007 - American
Realty Advisors announced today the acquisition of Great America
Tech Center, a 120,200 square foot office property in Santa Clara,
California. This Class-A property consists of two single-story office
buildings and one two-story office building and is 100% leased to
three innovative technology tenants: Net Optics, Stoke, Inc. and
Atheros Communications. Great America Tech Center is located just
minutes from San Jose International Airport and downtown San Jose
with convenient access to US 101 and Highway 237 via Great America
Parkway. Originally built in 1979, the Property interiors were fully
renovated in 1999 and exteriors were renovated in 2006 with new
entrances and roofs, a modernization of the site walkways and lighting,
and a redesigned landscaping and signage program. The current transaction
was completed on behalf of one of American's commingled funds.
Greg Blomstrand, Principal and Managing Director, at American stated,
"This acquisition was driven by American's belief that the
Bay Area and other technology-driven markets should outperform the
national office benchmark in the medium-term. We believe that the
property will generate strong returns due to its strategic location
in the prestigious Lake Marriott Business Park and strong growth
in the greater Santa Clara market."
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 $4.6 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 September 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 $345 million in undrawn commitments.
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