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Friday, Sep 22, 2023

Real Estate Advisory Company Expands Nationally

To handle growth of its services nationally, real estate real estate investment advisor Glendale-based American Realty Advisors has hired two new executives to work at opposite ends of the country. Drew Hess will be in San Francisco and Jeff Miller will work out of Rhode Island. The company has approximately $3.4 billion in assets and locations in California, Atlanta, Chicago, Connecticut, New Mexico and Florida. Over the past two years, the company’s assets have grown dramatically, said Chief Executive Officer Stanley Iezman. “We have been expanding in San Francisco, Rhode Island and adding more people in Chicago,” Iezman said adding that the company has seen an increase of more than $800 million in assets in the past 12 months. Recently, Connecticut Retirement Plans and Trust Funds has named the firm as a preferred vendor, pending successful contract negotiations, in its search for a real estate account manager, according to Lee Ann Palladino, deputy chief investment officer for CRPTF. In addition, the Fort Lauderdale Police and Retirement System Board of Trustees in March approved the transfer of $7.5 million to its $19 million real estate portfolio handled by American Realty Advisors. The firm has been involved with the Fort Lauderdale Police and Retirement System Board of Trustees since June of 2007, said Lynn Wenger, the retirement system’s pension administrator. According to the company, Hess and Miller will be responsible for expanding the firm’s real estate investments nationwide. Geographic expertise The decision to position Miller in San Francisco and Hess in Rhode Island were due to their strong expertise in those geographic regions, added Iezman. “Both were located in those markets and had significant experience in those markets,” he said. “They each know those areas very well.” Iezman notes that Hess and Miller will handle acquisition work for the company. “It will help also in terms of relationships there,” he said. Miller brings to the table over 29 years of experience in the real estate investment management industry including holding the title of co-founder of Barrington Capital Partners in Barrington, R.I. In addition, he also co-founded Challenger Financial Services group and served as its director. With over 12 years of experience in real estate investment advisory services, Hess has most recently served as a partner of Orchard Partners where he handled acquisition in Southern California and Pacific Northwest regions. Prior to Orchard Partners, Hess was the vice president of investments at Prudential Real Estate Investors where he was responsible for real estate investments on the West Coast. Northwest area Hess will be responsible for the firm’s transaction activities in Northern California and the Pacific Northwest. In a statement issued by the firm, Kirk Helgeson, American’s executive managing director of investments said, “We are pleased to welcome Jeff and Drew to American’s dynamic group of investment professionals. Their collective breadth of knowledge and expertise will contribute to the depth of the firm’s resources and enhance American’s ability to capitalize on investment opportunities coast to coast.” American Realty Advisors has had its corporate headquarters located in Glendale for 22 years with Iezman as CEO. The firm’s portfolio includes office, industrial, multi-family, retail and other properties nationwide.

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