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Adler Realty Sells 4200 & 4260 Truxtun Avenue in Bakersfield and Refinanced Remaining Property

Bakersfield, CA (October 21, 2010) The two buildings on Truxtun Avenue 4200 and 4260 Truxtun Avenue comprising of 48,327 and 12,601 square feet respectively, were sold and 4900 California Avenue, comprising of 151,124 square feet was refinanced. The two Truxtun properties were sold to current tenants in the buildings for $8,000,000 ($131.30 per square foot). The original purchase price was $114.60 per square foot. The 4900 California building was refinanced by Goldman Sachs. A ten year loan in the amount of $13,750,000 was secured bearing interest at 5.6% per annum and payments amortized over twenty five years.

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