Welcome to our April Newsletter, keeping you informed of news, investments and successes by Cogress.
We would like to thank Gili Nasim for the last four exciting and fruitful years at Cogress/Hagshama, wishing him the best of luck in his new endeavours.
We would like to wish Nir Yakobovich good luck in his new position as Head of Acquisitions and Business Development of Cogress/Hagshama.
Happy Easter and Passover
We wish you and your families Happy Spring Holidays
Recent JV Equity Investment First Phase Closing
Stone Mountain, GA – Mountain Lake Apartment Homes – 284 units residential MF complex value add
Sponsor – Praxis Capital
Total Costs: $26,600,500
Cogress Equity: $5,000,000
Description: Acquisition of a 1970 vintage 284 units residential multifamily complex, renovation, increase NOI, and sale
One of 3 JVs with Praxis Capital
JV Equity Exits – Recent Realized Investments and Dispositions
Fort Lauderdale, FL – North Fort Gardens – 65 units residential MF complex value add
Sponsor – KPC Properties
Total Costs: $8,000,000
Cogress Equity: $2,300,000
Description: Acquisition of a 1971 vintage 65 units residential multifamily complex, renovation, increase NOI, and sale/re-finance.
One of 3 JVs and 2 Exits with KPC Properties
JV Equity At Work – Value Add Updates
Desoto, TX – Windsong Place Apartments – 200 units residential MF complex value add
Sponsor – Strategic Realty Holdings
Total Costs: $18,340,000
Cogress Equity: $2,800,000
Description: Acquisition of a 1983 vintage 200 units residential multifamily complex, renovation, increase NOI, and sale.
Project Update: 94% occupancy has been achieved, 70 units have been renovated, renewals occurring at much higher rates than projections.
Sandy Springs, GA – Park Terrace Apartments – 102 units MF complex value add
Sponsor – Arcan Capital
Total Costs: $13,500,000
Cogress Equity: $2,600,000
Description: Acquisition of a 1969 vintage 102 units residential multifamily complex, renovation, increase NOI, and sale
Project Update: Exterior and interior renovation is near completion, rents are above proforma at 98% occupancy in this 1969
One of 4 JVs with Arcan Capital
Cumulative Track Record
For JV consideration please send:
- Sponsor track record as general partner, AUM, company and team overview
- Project’s Offering Memorandum
- Proforma with sources and uses, working model with monthly and annual cash projections
- Market study, renovated rent and sales comps
Head of Acquisitions & Business Development
Acquisitions & Business Development team
Rafi Katz – Chief Analyst
This newsletter does not constitute an offer to sell or the solicitation of an offer to purchase any securities and is for only the use of its recipients