Welcome to our January Newsletter, keeping you informed of news, investments and successes by Cogress.
We would like to thank all our partners, brokers, deal makers and colleagues for all the hard work, collaboration, and contribution to our successful 2018. We look forward to another successful year together.
JV Equity at Work – Value-adds and Ground-up Construction Updates
Sandy Springs, GA – Park Terrace Apartments – 102 units residential Multifamily Complex value add
Sponsor – Arcan Capital
Total Costs: $13,500,000
Cogress Equity: $2,600,000
Description: Acquisition of a 1969 vintage 102 units MF complex, renovation, increase NOI and sale.
Project Update: 98% Occupancy has been achieved on this 1969 vintage, with 0% delinquency, the renovation plan is on schedule.
One of 4 JV’s with Arcan Capital
Atlanta, GA – Regal Vista Apartments Homes – 226 units residential Multifamily complex value add
Sponsor – Crown Holdings Group
Total Costs: $15,600,000
Cogress Equity: $2,800,000
Description: Acquisition of a 1979 vintage 176 units MF complex, renovation, increase NOI and sale.
Project update: 95% Occupancy has been achieved – slightly exceeding business plan targets. One of 25 JV’s with Crown Holding Group
Brooklyn, NY – Ditmas Park – 35 units residential and retail space condominium building ground up construction
Sponsor – TK Construction
Total Costs: $13,400,000
Cogress Equity: $3,900,000
Description: Acquisition, demolition, construction of 35 residential units and retail space condominium building and sale.
Project update: The model unit is complete, and condominium book and certificate of occupancy are underway.
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.
We are currently pursuing multifamily acquisitions generating cash flow from day one for 2nd Quarter closings.
To discuss common equity joint venture opportunities please contact our team.
Cumulative Track Record
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