LAGUNA BEACH, CA - Hanover Equity, LLC, a privately held real estate syndication group is proud to announce the closing and completion of a $15 million private equity offering which will be used to purchase $60 million real estate portfolio consisting of multifamily and self storage properties. The portfolio will contain a total of 6 properties and will consist of multifamily and self storage properties. The portfolio will contain 4 multifamily properties consisting of over 2200 Class B & C units in the Southeast and Southwest and 2 self storage properties with over 1700 units also in the Southwest.
"We are thrilled about the purchase of these properties and the projected returns to investors," said Karen Hanover, President of Hanover Equity. "It has been a long road to fruition but we are finally here. It is both rewarding and exciting."
Karen states, "Now that we have completed the capital fundraising stage, we will focus on the repositioning and management of the assets. It's important not to take on more than we can responsibly manage."
When asked if there will be other opportunities for investors in the future, Karen said, "There are always opportunities out there if you know which stones to turn. I have assembled an impressive team of seasoned professionals from various professional backgrounds who constantly scour the country for opportunities like these. We know where to look and how to identify opportunities before they are released to the public. Because of this, we can cherry pick deals for our investors. As of last week, we have identified additional properties with similar returns and will be establishing a new fund for investors."
"Although residential real estate is experiencing decline and we are facing an uncertain economy, the fundamentals with regard to commercial real estate are sound. Additionally with constrained new construction supply, I believe commercial investments are poised for continued growth," said Hanover.
Source: PR Web