American Realty Advisors Announces the Disposition of 100%-Leased Industrial Portfolio in Eastern Suburb of Washington, D.C.
APR 24, 2012 - 16:00 ET
FOR: AMERICAN REALTY ADVISORS
GLENDALE, CA--(Marketwire - April 24, 2012) - American Realty Advisors, a leading provider of real estate investment management services for institutional investors, announced today the disposition of the Columbia Portfolio, an industrial complex comprised of three standalone, single-story buildings totaling 285,545 square feet in the city of Landover, an eastern suburb of Washington, D.C. The portfolio was sold to an institutional money manager and executed on behalf of one of American's separately managed account clients.
The portfolio's assets are all located inside the Beltway of the Washington, D.C. MSA with attractive building and loading depth and parking ratios, reinforcing American's ongoing commitment to enhancing our clients' portfolios with quality institutional-grade assets that are strategically located in desirable markets.
When the property was acquired in 2005, American recognized the opportunity to create value for the client through a rigorous asset management, property enhancement, and lease-up strategy. As a result of these efforts, at the time of disposition, all three assets were 100% leased.
American's Chairman and CEO, Stanley L. Iezman, stated, "Due to the relative strength of the Washington, D.C. MSA and growing institutional investor demand for stable income-producing assets, American was able to realize value for our client through the sale of the Columbia Industrial Portfolio. We are pleased with the success of our strategy for these assets."
*Assets under management represent approximate gross market value of all assets and accounts managed by American as of December 31, 2011 which includes cash and cash equivalents and excludes partners' share of equity and partners' share of debt on partnership investments.