>>May Newsletter

What’s New May Newsletter

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

News

We enjoyed meeting potential partners, deal makers and gaining valuable market insights at the interface student housing conference in Austin, TX. We are heading to the Las-Vegas ICSC RECON in May and look forward to seeing you there. Let’s meet


Investment criteria update
We are continuing to pursue JV acquisitions of assets generating cash flow. Please contact our team for more details.

Exits

Atlanta, GA – North Bridge Shopping Center – retail value add
Sponsor – Crown Holdings Group
Total Costs: $12,000,000
Cogress Equity: $2,900,000
Description: Acquisition of 106,000SF Retail Center, Renovation, increase NOI, and sale
One of 25 JV and the 14th Exit with Crown Holdings Group

Duluth, GA – Prado Exchange – retail value add
Sponsor – Crown Holdings Group
Total Costs: $9,400,000
Cogress Equity: $1,900,000
Description: Acquisition of 87,000SF Retail Center, Renovation, increase NOI, and sale
One of 25 JV and the 15th Exit with Crown Holdings Group

Chattanooga, TN – Lee Highway – 209 units MF complex value add
Sponsor – Lennox Companies (Hyde Capital)
Total Costs: $20,500,000
Cogress Equity: $3,500,000
Description: Acquisition of 209 Residential MF Complex, renovation, increase NOI, and sale
One of 16 JV and the 7th Exit with the Lennox Companies

JV equity – Value add updates

Pittsburgh, PA – Penn Rose – 72 Units Loft Style rental conversion
Sponsor – Red Rocks Group
Total Costs: $15,900,000
Cogress Equity: $3,100,000
Description: Acquisition of a historic 1906 vintage, 10 floors concrete building, conversion to 72 units Residential loft style

Simsbury, CT – Dorset Crossing Drive – 168 Units Class A MF Complex Core Plus
Sponsor – CS Acquisitions
Total Costs: $38,400,000
Cogress Equity: $8,350,000
Description: Acquisition of a class A, 168 units, 2016 vintage MF complex, light renovation, increase NOI and sale
One of two JV with CS Acquisitions

West Hartford, CT – Farmington Av / Amoldale Rd – 74 Units MF Complex value add
Sponsor – CS Acquisitions
Total Costs: $11,100,000
Cogress Equity: $2,100,000
Description: Acquisition of a 1966 vintage 74 Units MF Complex, renovation, increase NOI, and sale
One of two JV with CS Acquisitions

Desoto, TX – Windsong Place Apartments – 200 Units MF Complex Core Plus
Sponsor – Strategic Realty Holdings LLC
Total Costs: $18,300,000
Cogress Equity: $4,000,000
Description:Acquisition of a 1983 Vintage MF complex, refresh of common areas, club house and gym, increase NOI, and sale

Cumulative Track Record

Partners spotlight

Jeff Baum, Director of Equity Capital Markets, Harborview Capital

Background and Track record
Harborview Capital Partners is a full service commercial real estate finance and advisory firm, providing innovative solutions in both debt and equity as well as advisory services for all commercial real estate asset classes including multifamily, healthcare, office, retail, industrial and hospitality. Harborview also provides a proprietary mezzanine loan program utilizing their own balance sheet for investments.

As Director of Capital Markets, Jeff manages the firm’s equity platform and is responsible for the sourcing and placement of both joint venture and preferred equity as well as the origination of mezzanine debt for the firm’s clients. Harborview has a broad array of structured finance relationships ranging from high-net worth individuals and Family Offices to Insurance Companies, Pension Funds, Private Equity Groups and REITS on both a national and international basis.

How did you hear about Hagshama:
I heard about Hagshama Cogress from various sources: including several of my clients and colleagues, as well as my nephew who worked with one of Hagshama’s JV partners.

What was your experience working with Hagshama:
I’ve actually visited their offices in Tel Aviv and met the entire team, and have closed multiple transactions with Hagshama. We have found them to be very easy to deal with. They are very responsive and understand the time sensitivity required to do a deal. They are very focused and know which deals work for them and which do not, so they are able to provide timely and precise feedback.

In the first transaction we did with them, there were unforeseen circumstances that came up and Hagshama’s team was creative and flexible in designing solutions which enabled them to continue forward and fund the deal.

What is Hagshama’s biggest value in your eyes?
Besides the general value every equity partner brings to the table, Hagshama has great value because it enables the equity to be bought out for a slight premium after a certain time horizon. In addition, during the time I’ve worked with Hagshama, the platform has evolved and continues adapting to changing market conditions.

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 2018-09-04T07:49:28+00:00