>>June Newsletter

What’s New June Newsletter

Welcome to our June Newsletter, keeping you informed of news, investments and successes by Cogress.

News

We are proud to announce two additional joint venture projects raised through a prospectuses.

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.
*As published in the prospectus of Hagshama Huntsville Texas 1006 LP on 25.3.2018

DFW, TX – 227 Multifamily Units With Commercial Space Complex Development
Sponsor – Realty Capital Partners and ArchCo Residential
Total Costs: $42,000,00
Cogress Equity: $7,800,000
Description: Land acquisition, construction of a 227 MF units and commercial space complex, lease up, stabilization and sale.
*As published in the prospectus of Hagshama Texas Fort Worth 1007 LP on 15.5.2018

JV Equity Exits – Recent Realized Investments and Dispositions

Atlanta, GA – Metropolitan at Buckhead – 431 Multifamily Units Complex Value Add
Sponsor – Elite Street Capital
Total Costs: $66,000,000
Cogress Equity: $6,000,000
Description: Acquisition of a 1961 vintage 431 MF units complex, renovation, increase NOI and sale
One of 8 JV with Elite Street Capital

Charlotte, NC – Grand Oaks – 243 Multifamily Units Complex Value add
Sponsor – Elite Street Capital
Total Costs: $19,000,000
Cogress Equity: $2,900,000
Description: Acquisition of a 1969 vintage 243 MF units complex, renovation, increase NOI and sale
One of 8 JV with Elite Street Capital

JV Equity At work – Value Add and Development Updates

Austell, GA – Reserve at Sweetwater Creek – 156 Multifamily Units Complex Value Add
Sponsor – Arcan Capital
Total Costs: $15,700,000
Cogress Equity: $2,100,000
Description: Acquisition of a 1988 vintage 156 MF units complex, renovation, increase NOI and sale.
One of 3 JV with Acan 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: $2,800,000
Description: Acquisition of a 13 units + 1,300 Sq.Ft retail Rental building, renovation, increase NOI and sale.
One of 4 JV with Izhaki Acquisitions

Greensboro, NC – Summit Village Apartment Homes – 256 Multifamily Units Complex Value Add
Sponsor – Arcan Capital
Total Costs: $13,600,000
Cogress Equity: $2,900,000
Description: Acquisition of a 1985 vintage 256 MF units complex, renovation, increase NOI, and sale.
One of 3 JV with Arcan Capital

Manhattan, NY – West 142nd Street – Construction of 26 Units, Rental Apartment Building
Sponsor – Deepdale (Resi GP LLC) Total Costs: $16,450,000
Cogress Equity: $5,800,000
Description: Land acquisition, ground up construction of a 26 residential units rental apartment building, lease up, stabilization, and sale.
One of 2 JV with Deepdale

Manhattan, NY – West 159th Street – Construction of 26 Residential Units and Retail Space, Condominium Building
Sponsor – Deepdale (Resi GP LLC) Total Costs: $17,750,000
Cogress Equity: $4,000,000 Description: Land acquisition, ground up construction of a 26 residential units condominiums + retail building and sale.
One of 2 JV with Deepdale

Manhattan, NY – West 133rd Street – Construction of 46 Residential Units and Retail Space, Condominium Building
Sponsor – Happy Living
Total Costs: $28,200,000
Cogress Equity: $5,700,000
Description: Acquisition and demolition of existing building, ground up construction of 46 condominiums residential units + retail and sale.

Cumulative Track Record

Market Penetration Spotlight – Midwest

At the early days of Hagshama-Cogress we started investing in U.S primary markets, following market evolution, branched out to secondary and tertiary markets. With recent shift towards lower risk-reward cash generating apartment buildings, and workforce-based assets, we have made a concentrated effort in the past year to penetrate strong alternative markets.

A good example of such effort is our success in pursuing JV opportunities with new partners in the Midwest. We have placed JV equity for residential buildings and complexes developments in Noblesville, IN (210 units MF complex), Des Moines, IA (213 units MF complex), and additional projects in Chicago, IL and Indianapolis, IN – just to name a few.

We are currently reviewing and pursuing more opportunities of multifamily acquisitions and developments in Ohio, Illinois, and others.

Please contact our team to discuss JV opportunities.

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 2018-09-04T07:49:02+00:00