Los Angeles (February 20, 2015) – Adler Realty Investments, Inc. (Adler) announced the sale of its 26,000 square foot two building office complex in Ontario, California. The property was sold to a private investor for $4,655,000.
Adler acquired the project two and half years ago as a 50% leased property from a distressed owner. Adler was able to quickly execute several new leases bringing the property to 100% occupancy and providing strong cash flow to its investors.
“We are proud that we were able to complete our business plan faster than anticipated and double our investors money in a short period of time.,” said Michael Adler, president of Adler Realty Investments. “We are also pleased that after the sale we were able to successfully execute a 1031 tax exchange allowing our investors to roll their profits into a new opportunity while deferring their tax gains.”
The broker on the deal was Jeremy Trotter of Synergy Real Estate Group who represented both seller and buyer.
