>>July Newsletter

What’s New July Newsletter

Welcome to our July Newsletter. Happy 4th of July to all our Associates!

News

Another busy month at Cogress Hagshama, we toured Birmingham AL, Columbus OH, Indianapolis IN, Dayton OH, and others, to evaluate potential projects and partners.

Recent Joint Venture Equity Investments Closings

Conroe, TX – Whispering Oaks – 140 units multifamily complex value add
Sponsor – Augusta Real Estate Partners
Total Costs: $12,000,000
Cogress Equity: $3,000,000
Description: Acquisition of a 1972 vintage 140 units MF complex, renovation, increase NOI and sale.
One of 2 JV with the sponsor

Huntsville, TX – 544 beds Student Housing complex development
Sponsor – Guefen Development Company and Arris Real Estate Partners
Total Costs: $27,800,000
Cogress Equity: $7,400,000
Description: Land acquisition, construction of a 150 units, 544 Beds student housing complex, lease up, stabilization and sale.

Fort Worth, TX – 227 multifamily units and commercial space complex development
Sponsor – Realty Capital Partners and ArchCo Residential
Total Costs: $42,000,000
Cogress Equity: $7,800,000
Description: Land acquisition, construction of a 227 MF units and commercial space complex, lease up, stabilization and sale.

JV Equity Exits – Recent Realized Investments and Dispositions

Atlanta, GA – The Fields Baywood – 120 units multifamily complex value add
Sponsor – Elite Street Capital
Total Costs: $7,600,000
Cogress Equity: $1,900,000
Description: Acquisition of a 1996 vintage 120 units MF complex, renovation, increase NOI and sale.
One of 8 JV with Elite Street Capital

Victorville, CA – The Colony – 200 units multifamily complex value add
Sponsor – Sagebrush Companies
Total Costs: $18,700,000
Cogress Equity: $2,800,000
Description: Acquisition of a 1988 vintage 200 units MF complex, renovation, increase NOI, and sale.
One of 2 JV with Sagebrush Companies

Victorville, CA – Golden sands – 120 units multifamily complex value add
Sponsor – Sagebrush Companies
Total Costs: $10,200,000
Cogress Equity: $2,200,000
Description: Acquisition of a 1988 vintage 120 units MF complex, renovation, increase NOI, and sale.
One of 2 JV with Sagebrush Companies

JV Equity at work – Value-add and Development updates

Houston, TX – Kathy – 316 units multifamily complex value add
Sponsor – ELRH Investments
Total Costs: $34,536,000
Cogress Equity: $3,500,000
Description: Acquisition of a 1983 vintage 316 units MF complex, renovation, increase NOI and sale.

Portland, OR – Twenty Twenty Condominiums – 162 residential condominium and retail space building
Sponsor – PHK Enterprises
Total Costs: $79,000,000
Cogress Equity: $11,500,000
Description: Land acquisitions, construction of 162 residential units and retail space, and sale.

Cumulative Track Record

Women in Real Estate

As a society at large, we have made progress in recent years towards gender equality and improved female presence in executive positions, and across professional fields considered until recently as male domains. However, there are numerous fields that are still male biased  – commercial real estate is among them. Development, management firms, banks, accounting and large brokerage firms are generally controlled by a male majority.

At Hagshama / Cogress – a leading real estate equity investment firm, with a cumulative AUM of 4$ billion, the exception is the rule. At the reins of the firm are three female executives who are members of the managing board. Half of the firm’s investment committee members, and four departments are headed by women who are leaders in their fields – finance, investor relations, marketing, and underwriting.

The cumulative experience and expertise of the female force behind Hagshama / Cogress proves that the industry would benefit from a larger female presence among its executive ranks.

For more information about our staff:

https://www.cogresscapital.com/about-us/our-team/

Partner Spotlight – Cathy Reines & Joshua Scott
KOZ Development

Background and track record
Based in Snohomish, WA, the company was founded in 2014 as a residential real estate development firm, by Cathy Reines & Joshua Scott.

Cathy Raines started as a licensed CPA, was a partner in a public accounting firm and pivoted to banking. After serving several years as an executive at two local community banks she and business partner Josh Scott – a licensed architect with a construction background, joined forces to develop micro housing. Josh’s construction and architecture background, along with Cathy’s accounting and financial acumen, has proven to be fruitful. The team focuses on affordable units and offers rent 25% – 30% below comparable apartments by building slightly smaller units, and a limited amenity package. At the same time, their units are fully appointed which sets them apart from other micro unit builders. To date Koz has developed fifteen projects, with about 1,600 units in their pipe line, three projects are completed, five under construction, and the remaining in are various stages of permitting.

Operation
Kos development includes a staff of seven, out of which four are architects, and the remaining are analysts, operations, accounting, and admin.

What has your experience working with Hagshama / Cogress U.S been like?
We were Introduced to Hagshama by a broker via our info email, and our experience has been amazing. The people are wonderful, intelligent, and genuine. We like to work with people with we enjoy spending time with. The underwriting process is intelligent, they ask great questions.

What is the biggest value Hagshama / Cogress brings to your business?
We like to partner with companies that understand development, construction, and real estate, and we look for partners that makes us a better company – that is Hagshama / Cogress U.S.

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 2018-09-04T07:48:09+00:00