>>December Newsletter 2018

What’s New December Newsletter

News

Launching CoFund X – The Game Changer of JV Equity A JV Equity fund that is being raised through prospectus for Nationwide, Core + and Value add acquisitions and Development projects, Equity size of $2MM – $15MM LP Investments, 3-5 years equity horizon. The fund will be raised in phases and is expected to be available for JV agreements signed from January 2019.

This is a major and exciting step forward for us and our current and potential partners!

To learn more about the process, investment criteria and discuss JV opportunities please contact our team. We are looking forward to seeing you at the 2019 NMHC Apartment Strategies Outlook Conference in San Diego – January 28-29th Please contact us to schedule a meeting.

As published by Hagshama COFUND 10LP A1800000061

Recent JV Equity Investments – CoFund X inaugural projects 2019

Schaumburg, IL – Veridian Living – 250 units residential MF complex ground up construction
Sponsor – Vennpoint Real Estate and Urban Street Group
Total Costs: $67,600,000
Cogress Equity: $11,200,000
Description: As part of the future development of the former Motorola campus, this project will be the first Class A MF asset and part of an interesting and diversified mixture of new
developments. Development will include Land acquisition, construction of a 250 units MF complex, lease up, stabilization and sale.

Capitol Heights, MD (Washington DC MSA) – Highland Ridge Apartments – 197 units residential MF complex value add
Sponsor – Strategic Realty Holdings
Total Costs: $24,900,000
Cogress Equity: $7,500,000
Description: Acquisition of a 1968 vintage 197 units MF complex in the highly desired Washington DC submarket. A true value add play of renovation, increase NOI, and sale.
One of 2 JV with Strategic Realty Holdings

JV Equity at Work – Value-adds and Ground-up Construction Updates

Desoto, TX – Windsong Place Apartments – 200 units residential MF complex value add
Sponsor – Strategic Realty Holdings
Total Costs: $18,300,000
Cogress Equity: $4,000,000
Description: Acquisition of a 1983 vintage 200 units MF complex, renovation, increase NOI, and sale. minimal turnover.
Project Update: 97% Occupancy has been achieved with revenue increase and minimal turnover.
One of 2 JV with Strategic Realty Holdings

Birmingham, AL – Valley Crest Apartments – 176 units residential MF complex value add
Sponsor – Arcan Capital
Total Costs: $12,100,000
Cogress Equity: $2,850,000
Description: Acquisition of a 1979 vintage 176 units MF complex, renovation, increase NOI, and sale.
Project update: 95% Occupancy has been achieved – exceeding business plan targets.
One of 4 JV with Arcan Capital

Manhattan, NY – Upper East Side – 13 residential units apartment building & 1,300 Sq. Ft retail value add
Sponsor – Izhaki Acquisitions
Total Costs: $7,800,000
Cogress Equity: $2,850,000
Description: Acquisition of a 13 Units + 1,300 Sq. Ft Retail rental building, renovation, increase NOI, and sale.
Project update: Renovation has been completed, marketing efforts has commenced.
One of 4 JV with Izhaki Acquisitions

Austell, GA – Reserve at Sweetwater Creek – 156 units residential MF complex value add
Sponsor – Arcan Capital
Total Costs: $15,700,000
Cogress Equity: $2,800,000
Description: Acquisition of a 1987 vintage 156 units MF complex, renovation, increase NOI, and sale.
Project update:Siding, common areas, new dog park, pool and gym renovation is complete. Unit and common areas renovation are ongoing while 95% occupancy has been achieved.
One of 4 JV with Arcan Capital

West Hartford, CT – The Packard – 74 units residential MF complex value add
Sponsor – CS Acquisitions Group
Total Costs: $11,100,000
Cogress Equity: $2,150,000
Description: Acquisition of a 1966 vintage 74 units MF complex, renovation, increase NOI, and sale.
Project update: Installation of smart home devices Is underway, occupancy of 88% achieved and counting.
One of 2 JV with CS Acquisitions Group

Cumulative Track Record

The Power of

The real power of CoFund X is not only the ability to close quickly with larger equity amounts, but to manage discretionary capital available for value add, core+ and ground up construction projects nationwide. This discretion comes after years of successful transactions in 25 U.S states, in primary, secondary, as well as tertiary markets. The inaugural projects represent ground up construction, value add and core plus projects that will be sourced for subsequent CoFund X investments.

To discuss common equity joint venture opportunities please contact our team.

Contact us

Gili Nasim
Head of Acquisitions & Business Development
Gili@kerenhagshama.co.il


Acquisitions & Business Development team

Roded Leviathan
Roded.Leviathan@cogresscapital.com

Nir Yakobovich
Nir@kerenhagshama.co.il

Daniel Gefen
daniel.gefen@cogresscapital.com

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

Cogress 2019-03-21T08:38:51+00:00