Grand Rapids, Michigan (PRWEB) May 12, 2017
Clark Brothers Capital Corporation ("Clark Brothers" or the "Corporation"), a Grand Rapids-based real estate investment firm, today announced that it has raised $1 million in new equity and increased the size of its previously announced private placement from $1 million to $5 million. The private placement was led by a number of existing and new accredited investors.
“We continue to believe that homes in Grand Rapids are undervalued relative to rents, disposable incomes and other assets such as equities,” said John Clark, President of Clark Brothers. “Our view is that market conditions in West Michigan present a unique opportunity to purchase homes, rent them to tenants, and position the assets for revenue growth, stability and appreciation.”
Proceeds of the initial $1 million offering were used to acquire and renovate fifteen properties (twenty-one units) in Grand Rapids, Michigan – twelve single-family properties, one multi-family property and two mixed-use properties. The Corporation intends to use the proceeds raised from the new offering, along with cash remaining after the payment of the Corporation's targeted dividend yield, to continue to acquire and renovate properties in Grand Rapids and other cities in West Michigan.
About Clark Brothers Capital Corporation
Formed in 2014, Clark Brothers Capital Corporation is a Michigan corporation focused on acquiring, renovating and leasing single-family homes as rental properties. Information on Clark Brothers can be found at http://www.clarkbrothers.com. The Corporation's business management, acquisition, renovation and leasing functions are performed by Short South Realty Group, Inc. Information on Short South can be found at http://www.shortsouth.com.
Clark Brothers is intended for accredited investors only and who are familiar with and willing to accept the risks associated with private investments. Securities sold through private placements are not publicly traded and are intended for investors who do not have a need for a liquid investment. Any investment in Clark Brothers may only be made through our definitive documentation, which will contain important information, including restrictions on transfer and risk factors of which you should be aware prior to making any such investment. Investments and projections and other forward-looking statements (which are statements other than those of historical fact) contained herein are not assurances of future results of your investment. You are urged to confer with your legal and tax advisors before making any investment.