Real Estate Services Firm Acumen to Acquire Urban Investment Group.
M2 EQUITYBITES-February 13, 2017-Real Estate Services Firm Acumen to Acquire Urban Investment Group
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13 February 2017 - US-based real estate services company Acumen Companies has entered into a definite agreement to acquire Washington, DC-based real estate firm Urban Investment Group, the company said.
Terms of the deal were not disclosed.
The acquisition will result in Acumen Companies, a parent entity of Acumen Capital, forming a family of five entities to include Acumen Capital, Acumen Development, Acumen Construction, Acumen Affordable, and Acumen Management.
The transaction represents a milestone in Acumen's strategy to gain substantial market share in real estate development and construction, in addition to being a market leader in alternative lending and capital investment.
In connection with the acquisition, Abiud Zerubabel, founder and CEO of Urban Investment Group, will join the board of directors at Acumen Companies. Acumen Companies' executive management team will comprise of executives from both Acumen and Urban Investment Group.
Urban Investment Group has a pipeline of projects under construction and land for future development that could add over 250,000 square feet to the portfolio, positioning the Acumen Companies for growth and attractive shareholder returns.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Feb 13, 2017|
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