Contact Information: Contact: Laurie Brooks Media Coordinator G8 Capital 714-474-3770
Investment Firm G8 Capital Closes Multi-Bank Deal and Expects to Invest $150 Million in Multifamily Properties in 2010
G8 Capital Has So Far Acquired 400 Beds of a 720-Bed Senior Living Community and Spearheaded Multiple Closings Amongst Several Financial Institutions Within the Project; G8 Capital Has Completed More Than 30 Bulk Acquisitions and Purchased 1500+ REO Properties and Residential Whole Loans Nationwide From Major Banks; G8 Capital Plans to Invest More Than $150 Million in Multifamily Properties in the Coming Year
| Source: G8 Capital
LADERA RANCH, CA--(Marketwire - January 20, 2010) - G8 Capital announced today a multi-bank
deal to acquire 400 beds of a 720-bed senior living community in Western
Florida with 200 additional beds closing in the coming weeks. The property
is a 55+ community developed as a shared living space for active seniors.
G8 Capital was sought to acquire a portion of the community by a bank who
found themselves unable to sell the property through typical retail
channels due to Home Owners Association and management challenges. G8
Capital was able to provide a quick closing for the bank, as well as
facilitate multiple closings among the other bank-owned units with several
other financial institutions.
In addition to the recent senior living acquisition in western Florida, G8
Capital has also purchased more than 200 units between two multifamily
properties in Bakersfield and Ridgecrest, CA. G8 Capital has now completed
more than 30 bulk acquisitions since inception in 2007, and has purchased
more than 1,500 REO properties and residential whole loans nationwide from
nearly all of the major banks and top services in the United States. G8
Capital is planning to invest more than $150 million during 2010 in "living
component" assets, including multifamily properties, condo-conversions and
senior living facilities.
"We were pleased to work with several financial institutions in our recent
acquisition of the senior living community. Given our successful track
record, we are now being sought out by financial institutions throughout
the United States to facilitate quick closings on residential and
multifamily portfolios, including properties and projects that have
challenges associated with them," said Evan Gentry, president and CEO of G8
Capital.
About G8 Capital
G8 Capital (www.g8cap.com) is a prudent and disciplined investment firm
focused on opportunity-based acquisitions of both residential and
commercial real estate assets. G8 Capital acquires real estate and loan
portfolios from financial institutions and other sellers that are looking
to get fair value and timely execution.