REAL ESTATE INVESTMENT
33 Holdings, LLC | August 13, 2021
33 Holdings LLC announced the signing today of a merger agreement to acquire interest in Beers Housing Inc., a General Contractor and a leading service provider in mortgage field services, maintenance, rehab, construction and development in the southeast US. The M&A is expected to strengthen 33 Holding's vertically integrated real estate platform executing value-add and opportunistic real estate projects.
"Joining 33 Holdings LLC is an incremental progression in our quest to build a world class mortgage field services and construction service business," commented Chad Beers, Founder & Chief Executive Officer of Beers Housing Inc. "As part of 33 Holdings LLC, we will be able to serve 33's existing portfolio as well as attract new industry-wide clients. This is truly an exciting relationship for our customers, vendors and employees and will help position our business for strong growth in the future," he stated.
"This investment in Beers Housing Inc., presents a great opportunity for 33 Holdings LLC to add a leading mortgage field services & construction services business to our platform," stated Sanjay Raghavaraju, Founder & Chief Executive Officer of 33 Holdings LLC.
"With this merger, it will create a fully functional private equity real estate company that will create higher returns and faster delivery of real estate projects to our clients," stated Corey Oldknow, Broker & Chief Acquisitions Officer of 33 Holdings LLC.
Under the terms of the agreement, Beers Housing Inc., will operate under the Beers Construction Partners (BCP) name and under the current leadership. In addition, Heather Beers, Managing Partner of Beers Housing Inc., will take on the role of Chief Operating Officer (COO) at 33 Holdings LLC & Beers Housing Inc., helping with the integration of the two companies while ensuring value to Investors and Clients over the next few months. Both Chad Beers & Heather Beers will join Corey Oldknow & Sanjay Raghavaraju as Principals of 33 Holdings LLC.
"Beers Housing Inc., is excited to join the 33 group of companies," said Heather Beers, Managing Partner of Beers Housing Inc. "Our respective cultures, goals and investment philosophies are very much aligned. Beers Construction Partners (BCP) will remain a leading Mortgage Field Services & Construction Services firm, now benefiting from the support of 33's significant financial and operational resources. The partnership with 33 ensures that BCP's principals will remain majority-owners of the firm. With this integration, we see a growth opportunity given the seismic shifts in the real estate market, which our partners and staff will thrive, enabling us to better serve our investors and impact the communities we operate in."
About 33 Holdings LLC (33)
33 Holdings LLC specializes in real estate investment, acquisition, development, construction and asset management across the Southeast US with a concentration on primary and secondary markets. Sanjay Raghavaraju founded 33 Holdings LLC on the premise that investment in real estate should be driven by sound market fundamentals, a flexible time horizon and strong alignment of interest between investors and managers. 33 Holdings has a strong track record of driving investment results. 33 Holdings differentiates itself by providing hands-on real estate investment management, creative deal structuring, and transparent communication with investors.
About Beers Construction Partners (BCP),
Beers Construction Partners specializes in maintaining and adding value to bank and investor assets throughout the Southeast by using a hands-on approach with a hybrid employee/subcontractor base model. Chad Beers, founded Beers Housing in 2007 with a strong focus on the mortgage field service space as well as fix and flip and has been able to adapt to various services lines with the strong leadership and client relationships brought in by Heather Beers to not only meet but exceed the industry and economical needs in the housing market. Beers Housing now has multiple service lines to include mortgage field services, maintenance, rehab, ground up construction and development.
REAL ESTATE TECHNOLOGY
businesswire | December 09, 2020
Ridge Real Estate Partners LP ("Dune"), a main New York-based land venture firm, today reported the proceeded with extension of its group.
To additional expand upon its extending presence in the western district, two experienced venture experts were included the Los Angeles office. Ridge has been effectively putting resources into the western area since 2007, and proceeding to expand on this solid speculation movement, on November 18, 2020, Dune shut on the procurement of Fairways at Lowry, an all around found 450-unit multi-family resource in metro Denver that is appropriate for repositioning.
Ridge additionally declared the recruiting of a prepared business improvement expert and two venture partners in New York.
Five New Hires Bolster Investment Team and Business Development Capabilities
Bianca Tomkoria and Garrett Criden have joined Dune in Los Angeles as Vice President and Associate, individually, of the speculation group. Driven by Aaron Greeno, the Los Angeles-based venture group is liable for sourcing and executing exchanges across the western United States.
Amar Jhaveri, CFA, CAIA, has joined Dune as Vice President – Capital Markets in New York. In this new job, Mr. Jhaveri will work intimately with Julie Brenton, Head of Investor Relations, to distinguish, create and uphold connections inside the institutional speculator network.
Patrick Farrell and Irwin Tejeda are likewise joining Dune as Associates in New York to help the group's speculation exercises.
These five fresh recruits follow a progression of advancements and increments to the senior initiative group that occurred recently. In February, Dune elevated Cia Buckley Marakovits to President and CIO and Eric Calder to Co-CIO. Aaron Greeno joined Dune in July and was designated Head of West Coast.
prnewswire | September 30, 2020
Neuberger Berman Real Estate Securities Income Fund Inc. has announced a distribution declaration of $0.04 per share of common stock. The distribution announced today is payable on October 30, 2020, has a record date of October 15, 2020 and has an ex-date of October 14, 2020. Under its level distribution policy, the Fund anticipates that it will make regular monthly distributions, subject to market conditions, of $0.04 per share of common stock, unless further action is taken to determine another amount.