Company Renamed ACRE Realty Investors Inc.
Will Commence Trading Under New Ticker Symbol “AIII” on Monday, February 2, 2015
ATLANTA, Nov. 19, 2014 /PRNewswire/ -- Roberts Realty Investors, Inc. (NYSE MKT: RPI) (the "Company") today announced that it has signed a definitive stock purchase agreement with A-III Investment Partners LLC (A-III), a joint venture between affiliates of Avenue Capital Group and C-III Capital Partners LLC, which is controlled by Island Capital Group LLC. Under the agreement, A-III has agreed to purchase $12.0 million of the Company's common stock at a purchase price per share to be determined based on an estimate of the Company's closing date net asset value, which is currently expected to be approximately $1.40 per share. At the closing, the Company also would issue to A-III warrants to purchase up to an additional $38.0 million of the Company's common stock at an exercise price equal to the same purchase price per share. The actual purchase price for the shares, number of shares to be issued and exercise price of the warrants will be determined immediately before closing and will be subject to a post-closing adjustment upon the sale of the Company's four existing properties as discussed further below.
EVO Real Estate Group Joins Largest Independent Commercial Real Estate Network
U.S. Residential Group LLC - a national full-service, fee-based multifamily management company for conventional and affordable apartments - has been selected by seven ownership groups to manage their respective market-rate and affordable communities totaling over 2,100 units in Arizona, California, Florida, Texas, Utah and Virginia.
U.S. Residential Group LLC - a national full-service, fee-based multifamily management company for conventional and affordable apartments - has been chosen by a Cleveland-based private real estate investment group to manage a portfolio of conventional apartment communities consisting of 10 communities located in Illinois, Ohio and Kentucky.
BEVERLY HILLS, CA – May 8, 2014 – As global markets continue to emerge from the economic downturn, recovery of the commercial real estate market will drive unfathomable flows of capital, according to Dr. Peter Linneman, Chief Economist at NAI Global. His remarks were delivered to a group of nearly 700 individuals from NAI Global firms and their clients this week at the NAI Global Market Outlook event. Dr. Linneman was joined by Jay Olshonsky, President of NAI Global and Mauro Keller Sarmiento, NAI Global Executive Managing Director of International Business. The presentation was opened by special guest Richard Ziman, Founding Chairman of Rexford Industrial Realty, Inc. and Founding Member of the UCLA Ziman Center for Real Estate.
U.S. Residential Group LLC - a national full-service, fee-based multifamily management company for conventional and affordable apartments - has once again been named as one of the top apartment management companies in the United States. The National Multi Housing Council released its 2014 Top 50 Apartment Management Companies list and U.S. Residential ranked #32. The 2014 rank represents a jump of 15 spots over 2013 and was the largest move by any company in the list.
NAI Global, the world’s largest, most powerful network of owner-operated commercial real estate firms, earned the top five spot in the 2014 Lipsey Survey of Top 25 Commercial Real Estate Brands. The survey was conducted among 100,000 commercial real estate professionals using a combination of ballot voting, phone interviews and focus groups to identify the top global brands. NAI Global is the only commercial real estate network represented in the top five.
U.S. Residential Group LLC - a national full-service, fee-based multifamily management company - has been selected by five different investment groups to manage their recent multifamily acquisitions in Texas and California.
U.S. Residential Group LLC - a national full-service, fee-based multifamily management company - saw its portfolio increase in 2013 by over 25% and its management services area expand by 4 states taking their total to 16.
Read More From our Leaders