Los Angeles (November 26th, 2012) – Adler Realty Investments, Inc. (Adler) has invested approximately $10,000,000 in Chatsworth Industrial Park ,LP, an entity which owns a 150,000 square foot industrial park in Chatsworth. The seven building project had been in bankruptcy due to a default of the original ownership who did not have the capital to keep the property fully operational. Adler was able to put together a reorganization plan with the current lender and work through the intricate procedures to get the plan approved and bring the ownership entity out of bankruptcy. As part of the plan, Adler secured new financing and paid off the existing loan.
The project is located at the intersection of Nordhoff Street and Independence Avenue in the highly desirable industrial area of Chatsworth. Adler plans to renovate the project and complete the leasing of the remaining 17,000 square feet of vacant space. While in the process of getting the bankruptcy plan executed, Adler had already taken over the management and leased some of the vacant space and executed renewals with several of the existing tenants.
“We are pleased with the investment structure we were able to create which provided a win-win scenario for all of the parties in the transaction” said Michael Adler, president of Adler. “The creativity in the deal structure, allowed for the original owner to preserve a good portion of their equity, as well as paying off all the creditors in the project.”
About Adler Realty Investments, Inc.
Adler Realty Investments, Inc. is a full-service real estate investment and development firm with over $600 million in acquisitions since inception. ADLER’s real estate portfolio consists of more than 2.7 million square feet of office, industrial, retail and multi-family residential properties in Texas, California, Colorado, and Arizona, as well as vacant land for future development. ADLER’s trademark is its unparalleled ability to identify, analyze, negotiate and close transactions involving many different types of real estate. ADLER has the experience and expertise required to execute management and development strategies to maximize a property’s value in the market.
For more information, please contact Michael Adler at (818) 884-2200 or Chris Engel at (818) 480-5501, or visit www.adler-realty.com. Adler Realty Investments, Inc. is located at 20951 Burbank Blvd. Suite B, Woodland Hills, Calif. 91367.
-ADLER REALTY INVESTMENTS-
