|May 19, Los Angeles, CA and Boston, MA – Sperry Van Ness International Corporation (SVNIC), one of the most innovative commercial brokerage firms in North America, with approximately $9.1 billion in annual sales volumes and 190 national sales offices, announces the formation of an internal private equity firm with DealPoint Merrill. The new partnership, which will operate under the name of SVN DealPoint Merrill Realty Partners was conceived to capitalize on SVNIC’s access to investment opportunities, which will then be matched by DealPoint Merrill’s development experience.Kevin Maggiacomo, President and CEO of SVNIC, explains that “the collective goal of the new partnership is to build preeminent investor value by acquiring co-investment assets which are fundamentally sound, but undervalued.” Kevin continues to point out, that “our investment objective is to acquire turn around assets capable of quickly generating superior cash on cash returns, coupled with the assurance that profits can be reinvested upon disposition to mitigate taxation.” Mr. Maggiacomo continues by saying, “we are fortunate to partner with gifted professionals who bring a vast amount of experience and good judgment.”David Frank, the Chief Executive Officer of DealPoint Merrill, echoes Mr. Maggiacomo’s thoughts by saying “as co-investors in our transactions, our first priority is capital preservation. We seek to acquire assets at deeply discounted prices; thereby creating an immediate margin of safety for investors.” He continues by saying “On a risk-adjusted basis, we prefer apartments, multi-tenant retail, self-storage and medical properties. The new partnership will secure multiple rounds of real estate equity investment with the first tranche of approximately $100 million in the first year to acquire properties in the name of the partnership.”
About Sperry Van Ness International Corporation
Sperry Van Ness International Corporation (SVNIC), a commercial real estate brokerage franchisor headquartered in Boston, MA, is one of the industry’s most recognized brands based on the annual Lipsey Top Brand Survey. With more than 190 locations in 500 markets, Sperry Van Ness® Commercial Real Estate Advisors provide sales, leasing, and property management services to more than 5,550 clients worldwide. SVN® Advisors also represent clients in auction services, charter schools, corporate real estate, distressed properties, golf & resort, hospitality, industrial, investment services, land, medical, multifamily, office, retail, single tenant investments. All Sperry Van Ness offices are independently owned and operated. For more information, visit http://www.svn.com.
|For more information, contact:
David Frank, Esq.