Adler Realty Investments forms joint venture with LLJ Ventures to acquire 400,000 Square-Foot Office Tower in Dallas, Texas
Dallas (June 5, 2012) – Adler Realty Investments, Inc. (Adler) has partnered with LLJ Ventures to acquire the Four Forest Office Tower in Dallas, Texas. The 400,000 sq. ft. building was acquired for $23 million from Younan Properties. The project is currently 50 percent occupied, and Adler plans to renovate the common areas, upgrade the building systems, and aggressively market the remaining available space for lease.
The building is located at 12222 Merit Drive and is strategically located off of the Central Expressway, south of the recently improved Lyndon B Johnson Freeway (LBJ) interchange. Situated on a 4.39 acre site, the project is improved with an attached six story parking structure, and amenities including a restaurant, fitness center, and a scenic park setting.
“We have been very successful in acquiring value-added properties such as this and executing our business plans, resulting in higher values and above market returns for our investors,” said Michael Adler, president of Adler. “Chris Engel, our director of acquisitions, is aggressively looking throughout the western United States for other value-add opportunities.”
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.
LLJ Ventures, LLC
LLJ Ventures is the private equity arm of the LM Group which manages more than $6 billion in public markets and commercial real estate from institutional and high net worth investors. LLJ Ventures specializes in complicated value add and opportunistic commercial real estate opportunities. In the last 12 months it has acquired office, hotels, multifamily, notes, c-stores, retail and land throughout the U.S.
For more information about LLJ Ventures, please contact Leonardo Simpser (firstname.lastname@example.org) or Tommy J. Nordgaard at (619) 814-1400. LLJ Ventures and LM Capital are located at 401 B Street, Suite 920, San Diego.