>>January Newsletter

What’s New January Newsletter

Welcome to our new series of monthly Newsletters keeping you informed of news, investments and successes by Cogress.

Recent Joint Venture Equity Investments Closings

Denver, CO – DU – 34 units / 110 beds , SH development
Sponsor – GDA Real Estate Services Total Costs: $15,400,000
Cogress Equity: $4,300,000
Description: Acquisition, construction, leasing, stabilization and sale
Our 8th Joint Venture with GDA

Atlanta, GA – Chamblee Dunwoody Rd – 257 units MF value add
Sponsor – Crown Holdings Group Total Costs: $22,650,000
Cogress Equity: $2,800,000
Description: Acquisition, renovation and sale of a 1963 vintage MF complex
Our 23rd JV with Crown Holdings Group

Des Moines, IA – East Village – 213 Units Rental Development
Sponsor – TWG Development
Total Costs: $40,300,300
Cogress Equity: $3,960,000
Description: Acquisition, construction, leasing, stabilization and sale
Our second JV with TWG Development

Exits

East Orange, NJ – 5 rental buildings portfolio, 292 units
Sponsor – ProudLiving Companies
Acquisition, Value add, Disposition

Memphis, TN – Lynnfield place – 400 units MF value add
Sponsor – Lennox Companies (Hyde capital)
Acquisition, Value add, Disposition
Our 4th successful exit with Lennox Companies

Cumulative Track Record

Partners spotlight

TWG Development – Indianapolis in Conversation with co-founder Tony Knoble

How did you hear about Cogress / Hagshama?
In the early days, we relied on family offices and equity syndication.

In the Last 5 years we started getting into market housing – which is when we got introduced to Hagshama / Cogress through Meridian Capital at the NHMC San Diego last year.

What was your experience with Cogress /Hagshama been like?
We have closed two JV’s so far, and It has been a great experience.

Being a family business, it is important to us that our equity partners have real understanding of the U.S market we focus on I enjoyed meeting the entire team in Tel Aviv, working with the analysts and the acquisitions team, and what is most amazing to me is how we could bridge cultural differences, and time zones. Their commitment and availability in odd hours, working late nights – basically making the partnership work.

I had a great experience in Tel Aviv, it is important to me to meet our investors and it was a big deal to see the offices and meet the team.

Hagshama is transparent in their interests and goals and good at establishing trust. I know that I can pick up the phone and get in touch with the head of acquisitions or the acquisition team any time of the day. I also know that if the deal meets the criteria it will close, and that we will work through any issuesthat arise. Being able to make deals work while dealing with different time zones, markets, and cultures, means we will send them every deal we get.

News

Investment criteria update

Acquisitions – Our equity JV investment criteria for MF value add/Core + properties now includes projects with deal level IRR of 16% and 5 years exit horizon.

Logistics and light industrial – Equity size range – $2.5 mil – $15 mil up to 80% of the equity stack for a first deal with a sponsor.

NMHC Apartment Outlook and annual meeting
we enjoyed meeting our partners, potential partners and deal makers at the NMHC in Orlando earlier this month. Please contact our team at info@cogresscapital.com for our participation in future conferences.

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 2018-09-04T07:50:04+00:00