American Realty Advisors Acquires Crowne Brook Apartments.Business Editors GLENDALE Glendale. 1 City (1990 pop. 148,134), Maricopa co., S central Ariz., adjacent to Phoenix; inc. 1910. It is located in a rich agricultural region irrigated by the Salt River project. Glendale has become one of the fastest-growing U.S. , Calif.--(BUSINESS WIRE)--Jan. 6, 2003 American Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Advisors (American) announced today the recent acquisition of Crowne Brook Apartments, located in Franklin, Tennessee Franklin is the county seat of Williamson County, Tennessee, USA. The population was 41,842 at the 2000 census. The 2007 Census Bureau Estimate places the population at 55,870. . The purchase was made on behalf of one of American's pension fund clients as part of a core real estate strategy. The 390-unit class "A" apartment community is located in upscale Davidson County Davidson County is the name of two counties in the United States:
Originally constructed in 1998, Crowne Brook offers one, two and three-bedroom apartment homes featuring private patios or balconies, vaulted ceilings, gourmet kitchens and wood burning fireplaces. Additional amenities include two swimming pools with sundecks, a clubhouse, a 24-hour fitness center, and detached de·tached adj. 1. Separated; disconnected. 2. Standing apart from others; separate. garages. Apartments range in size from 880 to 1,430 square feet. American's Senior Asset Manager, Eric Lezak commented: "With strong fundamentals in the multi-family market, we expect the high-end apartment sector to be one of the better performers over the next year." Mr. Lezak added, "We believe our superior operational skills will be able to add true value to our client's investment portfolio. We are strong believers in acquiring the best assets in the best locations as those assets will outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. the market over the course of our holding period." American Realty Advisors is a leading provider of institutional real estate investment management services including acquisition, disposition, development, structured finance, and active asset management. With more than $1.3 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , American has been creating customized investment strategies for public employee and corporate pension funds, endowments, foundations, and Taft-Hartley funds for over 20 years. The firm's nationwide properties include office, industrial, multi-family, and retail. American can be found online at www.americanreal.com. |
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