"We see increased opportunity to generate strong returns for our investors through an acquisition-focused strategy," says American Ventures president and CEO Philip Blumberg. "We have accumulated strong cash stockpiles to fuel acquisitions in 2007. That strategy may include bids on public REITs, as well as acquisitions of strategic individual property assets."

The company's current holdings include commercial properties in the southeast and southwest, including commercial real estate, development land, cash and other assets. Investors include high net worth individuals, foundations, pension funds and banks. "We are looking for properties in major markets suitable for our management brand," says Johnny Winton, president of asset management at Blumberg Office.

In a bid to boost its holdings this year, American Ventures was a final bidder on two major commercial property sales. The company led an investment group that bid $1.2 billion on the News Corp. building in New York City. With a bid of $200 million, it was also a finalist in the pursuit of the Bank One Center in Dallas.

Other recent activity by the company was the sale of the 1401 Brickell Office Tower, class A office building in Miami, for $61 million or $325 per net rentable sf. The buyer was Spanish real estate company Testa Inmuebles en Renta, S.A. The company also sold the 220,000-sf 255 Alhambra Circle office tower for $60 million, or $272 per sf, and sold land adjacent to its Three River Office Tower in Houston to facilitate expansion of the Omni Houston Hotel.