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Contact:
Kensington Realty
Advisors, Inc.
Kelley Smith
312.993.7800
CHICAGO, IL - March 13, 2007 – Chicago-based Kensington Realty Advisors, Inc.
has sold two warehouse buildings totaling 854,856 square feet. The 741,458 and 113,398 square foot buildings
are located in the Ontario Ridge Commerce center in Ontario, California. Kensington developed the larger building
in 2001 in a joint venture with Ridge Property Trust. Subsequent to completion, Kensington acquired a 100%
ownership interest in the project. The larger building is 100% leased to Tyco Healthcare Group and DSC Logistics.
Ridge served as the development manager for the smaller building, which was completed in January 2006 and is leased
in its entirety to Nexen Tire America.
Ms. Kelley Smith, principal, announced the sale on behalf of one of its private equity accounts. "The buildings
are state-of-the-art properties in an exceptional location, which are very hard to find for investment
in the current market. The sale of the properties permitted us to take advantage of dramatic price
appreciation in the market and complete the full execution of our investment plan on a very favorable basis," said Smith.
ProLogis, a global developer of industrial real estate based in Denver, Colorado, acquired the industrial assets through two of its subsidiaries.
Darla Longo and her team at CB Richard Ellis (Ontario office) acted as the seller's broker in the transaction.
Kensington Realty Advisors, Inc., a real estate private equity management firm headquartered in Chicago,
specializes in institutional real estate investment. Its investors include major pension funds, insurance
companies and financial institutions.
ProLogis is the world's largest owner, manager and developer of distribution facilities. The company has $26.7 billion of assets owned, managed
and under development, comprising of 422 million square feet (39.2 million square meters) in 2,466 properties as of December 31, 2006.
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