Consolidated Investment Group Executes Acquisition to Purchase a Three Property Portfolio They Previously Owned

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The three properties purchased include 1,087 units in North Carolina and Texas. CIG plans to complete significant renovations to each of the properties and then hold the assets as part of their long-term investment strategy and growth objectives.

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We were able to shorten our due diligence period and execute quickly due to our existing knowledge of these properties and corresponding markets.

Consolidated Investment Group (CIG) recently completed the acquisition of a three-property apartment portfolio which includes a total of 1,087 units that are located in Raleigh, North Carolina and Frisco, Texas. The purchase includes the three properties of which the average age is approximately 17 years. CIG plans on making substantial improvements to both property amenities and unit upgrades in all properties.

Interestingly, CIG was a previous owner of these properties, so this constitutes the second time they have owned these properties.

Tim Bertoch, Vice President at CIG, said “We were able to shorten our due diligence period and execute quickly due to our existing knowledge of these properties and corresponding markets. This acquisition is consistent with our strategy of acquiring well-located properties in high growth markets with the ability to upgrade units and amenities to meet the needs of the growing resident demographic.”

Overall, CIG’s real estate portfolio consists of investments in more than 20,000 multi-family apartment units and several million square feet of office buildings, industrial buildings and land holdings throughout the United States, Israel and Europe. Together with their partner, CWS Capital Partners, CIG plans to hold these new three assets as part of their long-term investment strategy and growth objectives.

About Consolidated Investment Group
Consolidated Investment Group (CIG) is an entrepreneurial investment company that manages a diverse portfolio valued in excess of $2 billion. Since 2003, CIG has actively invested in private equity, capital markets, real estate, and philanthropy. The company’s mission is to preserve and grow its shareholders’ capital for current and future generations and to support their philanthropic endeavors. It accomplishes this through innovative processes and a results-oriented team. CIG is committed to an environment founded on high ethical standards that puts its people first, fosters collaboration, and inspires dedication. CIG invests domestically and internationally. To learn more about CIG, visit http://www.ciginvest.com.

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Carli Franks
@CigInvest
since: 01/2016
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