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Contact: Joyce Ezaki
818/409-3280
AMERICAN REALTY ADVISORS ACQUIRES
ALARA® HEDGES CREEK IN THE PORTLAND, OREGON AREA
GLENDALE, Calif. -- (Market Wire) -- January 14, 2008 - American
Realty Advisors announced today the acquisition of ALARA® Hedges
Creek, a 408-unit garden-style apartment community in Tualatin,
Oregon, a suburb of Portland. Built in 1998, this premier Class-A,
339,144 square foot property consists of 19 buildings, has an average
unit size of 831 square feet and features a clubhouse, 24-hour state-of-the-art
fitness center, pool, picnic area, covered parking garage, and a
convenient walking bridge to retail shops. This property's excellent
location attracts residents for its easy access to local schools,
the Tualatin Country Club, Bridge Port Village, and the Washington
County Commuter Rail, scheduled to be completed in September 2008.
The transaction was completed on behalf of one of American's commingled
funds.
Stanley Iezman, President and Chief Executive Officer, at American
stated, "We have a positive outlook for Class-A multi-family
communities located in the West Portland submarket and believe that
this property has the potential to command the highest rents in
the submarket. We anticipate that this property will continue to
benefit from the area's continued population growth, positive employment
forecasts, and solid long-term economic drivers."
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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