We are working our way through new exciting investment vehicles that will streamline our Joint Venture investments. Stay tuned for upcoming announcements for 2019.We are heading to the NMHC OPTECH conference in Orlando FL, and Interface 9th annual interface multifamily Southeast conference in Atlanta, GA.
Get in touch with our team to set up a meeting.
JV Equity Exits – Recent Realized Investments and Dispositions
Greensboro, NC – Summit Village Apartments – 276 units residential multifamily complex value add
Sponsor – Arcan Capital
Total Costs: $14,000,000
Cogress Equity: $3,000,000
Description: Description: Acquisition of a 1985 vintage 276 units MF complex, renovation, increase NOI, and sale.
One of 4 JV with Arcan Capital
Valdosta, GA – Latitude 30 Apartments – 131 units residential multifamily complex value add
Sponsor – Elite Street Capita
Total Costs: $7,800,000
Cogress Equity: $2,400,000
Description: Description: Acquisition of a 1996 / 2005 vintage 131 units MF complex, renovation, increase NOI, and sale.
One of 8 JV with Elite Street Capital
JV Equity at Work – Value-adds and Ground-up Construction Updates
Chamblee, GA – Woodgate Apartments – 257 units residential multifamily complex value add
Sponsor – Crown Holdings Group Corporation
Total Costs: $23,000,000
Cogress Equity: $2,800,000
Description: Acquisition of a 1963 vintage 257 units MF complex, renovation, increase NOI, and sale.
Project update: 99% Occupancy has been achieved with revenue increase and minimal turnover.
One of 25 JV with Crown Holdings Group
Noblesville, IN – 32 Union – 210 units residential multifamily complex ground up construction
Sponsor – TWG Development
Total Costs: $26,000,000
Cogress Equity: $4,200,000
Description: Land acquisition, construction of a 210 residential units MF complex, lease up, stabilization, and sale.
Project update: Building #7 is ready and certificate of occupancy is imminent, building #6 is nearly completed, and certificate of occupancy imminent.
One of 2 JV with TWG Development
Lafayette, LA – Park Gardens – 174 units residential multifamily complex ground up construction
Sponsor – ASX Development
Total Costs: $24,500,000
Cogress Equity: $3,200,000
Description: Land acquisition, construction of a 174 residential units MF complex, lease up, stabilization, and sale.
Project update: Building #1 is complete while the remaining 4 buildings are underway to be completed by the first quarter of 2019.
Cumulative Track Record
The Power of Leadership
of our strong suits as a company is our culture and team work. There is an old Hebrew adage saying that “the fish smells from the head”. On the positive side of the proverb, during a recent visit to our HQ in Israel one of our team members ventured to the common kitchen to prepare himself a fresh cup of Turkish coffee – a popular item at our HQ. Our chairman and co- founder – Hannan Shemesh had been already preparing one for himself when he noticed the team member. Hannan turned to him asking how does he like his coffee and without much ado made him a cup of black Turkish coffee with “two pregnant spoon of coffee, and one flat spoon of sugar”.
That simple gesture translates to a companywide collaborative culture of roll- up the sleeves attitude. While we do have a corporate hierarchy, everyone is valued and has a voice, and no task is beneath anyone. Most importantly, this subtle attitude signals that despite our different rolls and hierarchy, we are all equal human beings. Corporate culture and tone are not built from the bottom up, but from top to bottom.
That same attitude is applied through our organization internally and externally to our operating partners, deal makers and vendors.
Stay tuned for new investment vehicles we are launching 2019
Head of Acquisitions & Business Development
Acquisitions & Business Development team
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