LIG Assets has entered into an alliance with Texas Real Estate Hedge Fund to invest, acquire, manage and finance commercial real estate properties.
Geographically these assets will be well located properties in the Southwest, West and Midwest sectors of the US.
Texas Real Estate Hedge Fund will focus on commercial real estate opportunities with valuations ranging from USD5m to USD100m. The composition of these assets will cover multifamily, retail, destination hotel and office properties.
LIG Asset’s and Texas Real Estate Hedge Fund’s expertise, in association with a team from MMR Realty Advisors and Inter Continental Real Partners will selectively analyse and underwrite the targeted acquisitions.
The alliance has been developed with the opportunity to take positions in assets that are off market and can be acquired on a negotiated basis.
In August 2012, LIG Assets announced plans to purchase income producing properties to expand its overall portfolio many times. If successful, the large size of the portfolio would warrant the company to establish a real estate investment trust, spin it off to LIGA shareholders, and establish payments of cash dividends quarterly from the Reit.
Jeff Love, chief executive of LIG Assets, says: "This is clearly a milestone achievement for LIG Assets and our shareholders. We are thrilled to embark on a partnership that we anticipate will provide handsome returns."
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