American Realty Advisors Picks Up More Than 900 KSF Across Five Assets
- Apr 17, 2012
By Barbra Murray, Contributing Editor
American Realty Advisors’ commercial real estate purchasing activity has just swelled by approximately 900,000 square feet — and then some — with the recent addition of five properties. The assets, acquired on behalf of an American Realty real estate fund, are located in Southern California, Suburban Atlanta, Dallas and Ft. Lauderdale.
High quality and key locations are the property attributes American Realty is seeking for acquisitions, and the real estate investment management services provider’s five recent purchases fit the bill. In California, American Realty got its hands on the 114,300-square-foot office building at 18401 Von Karman in the Orange County submarket of Irvine. Developed in 1985, the property provides Class A accommodations to multiple tenants. American Realty also got a piece of California’s booming Inland Empire industrial market with the acquisition of the two-building Rancho Cucamonga Distribution Center, which encompasses nearly 435,000 square feet, including 24,000 square feet of coveted freezer/cooler space, on 22.1 acres.
American Realty covered nearly every sector of the commercial real estate market with its recent purchases. The company also bought the 264-unit ALARA North Point, a luxury apartment complex in the metropolitan Atlanta city of Alpharetta, and increased its presence in the office and retail markets simultaneously with the purchase of the 194,200-square-foot The Quadrangle mixed-use property in Dallas. Additionally, in Ft. Lauderdale, American Realty grabbed the 96,300-square-foot Weston Lakes Plaza, a Class A, grocery-anchored shopping center.
“Driven by our confidence in the core attributes of each of these properties, we believe the acquisition of these assets highlights what we do best: identify real estate opportunities with strong fundamentals and implement a disciplined approach to real estate investment management, which we believe will benefit our investors over the long-term,” Stanley Iezman, chairman & CEO of American Realty, said.
American Realty followed the same guidelines with other recent purchases. Earlier this month the investment management firm snagged two mixed-use multifamily communities in Seattle: the 195-unit Link Apartments and the 136-unit Mural Apartments, which first opened their doors to residents in Seattle’s hot apartment market in 2011 and 2009, respectively.
Investors, in general, have grown increasingly confident about all sectors of the real estate market in the last few months. “Much of the rising confidence is rooted in the fact that investors have a sense that the commercial real estate market has reached bottom and the economy is going to get better,” the latest NREI/Marcus & Millichap Investor Sentiment Survey noted. “But even more important is the current ability to lock in extremely low long-term interest rates.”