American Realty Advisors Acquires SouthWoods Business Center.Business Editors GLENDALE, Calif.--(BUSINESS WIRE)--June 16, 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 announced today the acquisition of SouthWoods Business Center, an industrial complex within a 46-acre Class-A master-planned business park in Atlanta. The purchase was made on behalf of one of American's pension fund clients as part of a core real estate strategy. Built between 1998 and 2002, SouthWoods consists of four multi-tenant bulk distribution centers totaling 340,756 rentable square feet. Designed for air cargo air cargo: see aviation. and distribution use, the property today is 96% leased to fifteen tenants. This acquisition is in line with American's favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. outlook for the industrial sector. The firm believes that, due to the sector's defensive characteristics, industrial property will continue to be a stable performer over the short term and provide strong returns over the full market cycle. As such, American is currently looking to acquire other similar class-A properties over the next year. American's Asset Manager, Jennifer Bradford, commented: "We are very pleased to have successfully executed another focused investment strategy. We targeted an industrial acquisition given the sector's ability to rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective out of recessionary conditions and to further diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. our client's portfolio. Thereafter, we drilled down to specific markets and industrial types to find the perfect fit." Bradford added, "SouthWoods is located within just 1 mile of the Atlanta-Hartsfield Airport, the nation's busiest airport, which is presently under further expansion. We believe that bulk distribution industrial assets will remain very well-leased in this submarket sub·mar·ket n. A geographic, economic, or specialized subdivision of a market. adj. Being below what is usual in a particular market: submarket wages; submarket interest rates. and in high demand throughout our anticipated hold." 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 $1.4 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. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion