NEW YORK, Nov. 19, 2014 (GLOBE NEWSWIRE) -- SG Blocks (OTCQB:SGBX), a premier innovator and designer of container-based structures, today announced it has partnered with Manhattan-based Palladium Management on multifamily and mixed-use developments in the Greater New York area. SG Blocks investor Dillon Hill Capital, a New York based financial advisory, management consulting and investment management firm, will provide capital on a deal by deal basis.
"Teaming with Palladium will allow the SG Blocks Building System to be deployed throughout new markets, which will save time and money for developers and end users" said Paul Galvin, Chairman and CEO of SG Blocks. "The combination of our three firms will help unleash the value of underutilized land leveraging the speed and efficiency of modular construction and our environmentally friendly repurposed containers."
Through the partnership, Palladium will identify projects, invest in and raise funds for multi-family and mixed-used developments, which will be built using SG Blocks' prefabricated, highly sophisticated, engineered building system.
"SG Blocks has already established a track record with the most discerning of end users. We look forward to further showcasing these benefits to the development world at large," said David Roth, Principal and Founding Partner of Palladium Management.
Working in tandem with Dillon Hill, Palladium will review and underwrite other compelling market opportunities as well.
"I am enthusiastic about the applications in the urban multifamily property space," stated Bruce Grossman, CEO of Dillon Hill Capital. "In addition, I see numerous exciting applications for commercial, industrial, and philanthropic projects."
About SG Blocks: SG Blocks, Inc. (OTCQB:SGBX) is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. It has four product lines: retail, commercial, military and residential. SG Blocks also has an exclusive 10-year collaboration and supply contract with ConGlobal Industries Inc., the largest shipping container depot operator in the United States. For more information, visit www.sgblocks.com.
About Palladium Management: Palladium Management, LLC is a fully integrated real estate investment and development company with over 500,000 square-feet of property currently under management. As a full-service company, Palladium handles all acquisitions, debt sourcing, asset and property management and development in-house. Palladium Management focuses on mid-sized multifamily, retail, and mixed use assets in prime Tri-state markets with a specific focus on the outer boroughs of New York City and Westchester County. The principals of Palladium Management bring institutional-quality deal sourcing, underwriting, due diligence, and property management processes to a segment of the market underserved by larger real estate investment managers. For more information, visit www.palladiummgmt.com.
About Dillon Hill Capital: Dillon Hill Capital, LLC is a financial advisory, management consulting and investment firm based in Armonk, New York. Dillon Hill Capital, LLC, seeks to make opportunistic investments in public and private debt and equity securities. Founded by Bruce Grossman in 2009, the firm has no outside investors and only intends to make investments for its own account. For more information, visit www.dillonhillcapital.com.
Cautionary Note Regarding Forward-Looking Statements:
Information in this press release that involves the expectations, plans, intentions or strategies of SG Blocks regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. In this release, they are identified by references to dates after the date of this release and words such as "will," "remains," "to be," "plans," "believes," "may," "expects," "intends," and similar expressions. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and may cause actual results to differ materially from our current expectations.