American Realty Advisors Funds Construction and Development Loan for Los Angeles County Redevelopment.GLENDALE, Calif. -- 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 funding of $23 million in construction and permanent loan financing to a California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). based developer for the redevelopment of an existing retail building into 109,000 square feet of office space located in Glendora, California Glendora is a municipality in Los Angeles County, California, United States. As of 2006, the population of Glendora was estimated at 51,608.[7] Glendora mostly lies within the San Gabriel Valley, area code 626. . The loan investment was made on behalf of one of American's pension fund clients. The project, fully pre-leased to the County of Los Angeles' Department of Children and Family Services, is situated on a 7.67-acre site located on South Grand Avenue in Glendora. Construction is set to begin this month and is expected to be completed by October of 2005. "This investment is a strong addition to our client's investment portfolio, and the city will be getting a better use in a former retail location that has been vacant for some time. This is a win-win-win situation for our client, the developer, and the City of Glendora," commented American's President and Chief Executive Office, Stanley L. Iezman. "Additionally, this real estate program will generate a number of new high-quality jobs paying competitive wages with full benefits. The overall objective of our job-generating program is to create good jobs for working families and provide strong investment opportunities for our clients' pension portfolios." 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 $1.8 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 created customized investment strategies for public employee and corporate pension funds, endowments, foundations, and Taft-Hartley funds for over 15 years. American is a major investor in real estate nationwide and a principal investor in the Playa playa or pan or flat or dry lake Flat-bottomed depression that is periodically covered by water. Playas occur in interior desert basins and adjacent to coasts in arid and semiarid regions. Vista mixed-use development Mixed-use development refers to the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses. project in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . The firm's nationwide portfolios include office, industrial, multi-family, and retail properties. American can be found online at www.americanreal.com. |
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