Los Angeles (July 25, 2014) – Adler Realty Investments, Inc. (Adler) announced the sale of its 152,876 square foot Chatsworth Industrial Park. The property was sold to Rexford Industrial Realty, LP for $16,800,000.
Adler acquired the project two years ago, when the seven building project had been in bankruptcy due to a default of the original ownership. Adler was able to create 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. Adler renovated the project and quickly brought the occupancy up to 100% with multiple lease transactions.
“We are very pleased with the outcome of this investment for the original owner and for our capital invested in this property, especially due to the complexity of the transaction when it was purchased and the creative deal structure which it required,” said Michael Adler, president of Adler Realty Investments. “Adler continues to provide rescue capital to owners who are undercapitalized and need Adler’s expertise to solve financial and operational issues.”
Brokers on the deal were Bennett Robinson, Craig Peters, and Robert Valenziano of CBRE in the Los Angeles who represented both seller and buyer. Matthew Sullivan from Lee & Associates brokered the purchase for Adler.
About Adler Realty Investments, Inc.
Adler Realty Investments, Inc. is a full-service real estate investment and development firm with over $750 million in acquisitions since inception. ADLER’s real estate portfolio consists of more than 3 million square feet of office, industrial, retail and multi-family residential properties in Texas, California, Colorado, and Arizona and now Georgia, 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.
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