Adler unveils new $100m investment fund with FL buy.

Adler Group, one of Florida's oldest and largest commercial real estate firms, announced today they have formed their first discretionary fund to have capital available for the purchase of income producing commercial properties.

This $100 million fund, seeded by a major European investor, is named Helios AR Real Estate Fund I, and is being managed by Adler Helios MMI, LLC, an affiliate of the Adler Group, with Assos Capital USA LLC acting as co-manager. The Fund has already made two significant acquisitions, including Breckenridge Park in Tampa, Fla which closed on October 15, 2008.

According to Michael M. Adler, chairman and CEO of Adler Group, the company has a long history in the real estate investment business, which complements its notable experience in management, leasing and development.

"For decades, investors have partnered with Adler Group because of our depth of industry knowledge and trusted us to deploy and manage our joint capital," said Adler.

"With the current market conditions it is important to have discretionary funds available in order to acquire high-quality assets at reasonable pricing."

The Helios AR Real Estate Fund I will invest in multi-tenant office, flex, industrial and retail properties and other real estate related investments in the Southeast and Mid-Atlantic regions of the United States. The Fund closed on its first acquisition on August 22, 2008, consisting of a 252,000 square foot portfolio in Naples, Florida.

The Tampa acquisition is the second major transaction of the Helios AR Real Estate Fund I to close before the end of 2008. Breckenridge Park is a 15-building, 332,582 square foot Class A mixed-use complex situated at the interchange of I-4 and U.S. 301 in East Tampa. The location of the project, which is just 12 minutes from the Central Business District, attracts corporate tenants with space requirements ranging from 1,003 square feet to 53,000 square feet.