NEW YORK, NY, Nov. 26, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE-- Exxe Group (OTC PINK: AXXA), a diversified corporation focusing on investments in international real estate, financial services, AI, fintech and media, is pleased to announce an immediate pipeline of acquisitions including a two level Penthouse, located in South Beach, Miami, Florida, and several prestigious, 5-star residences in New York City, that includes a gala reception space of 5000+ sq.ft. at a landmark tower.
The milestone agreement that contains these acquisitions is a binding Memorandum of Understanding valued at $19 million of A-class, 5-star residences located in one of the tallest, top rated NYC towers in midtown Manhattan. The detailed contractual agreement is scheduled to be completed within 10 days. Once completed this transaction will double Exxe Group’s current assets under management.
Residences at the NYC property include the following: Four luxury condominiums located in the prestigious East Side of Manhattan. Residences range from just under 2000 square feet to almost 3000 square feet. Recent renovations include new state of the art kitchen and bath appliances. The luxury condo residences feature spectacular views of the NYC skyline; previous building’s residents included Derek Jeter, Bill Gates, Harrison Ford, Jocelyn Wildenstein, Kellyanne Conway, Sophia Loren. The condominiums held by Exxe Group will be purchased through a combination of cash, privately structured capital investments and traditional bank loans.
The projected revenue stream from tenant rentals is approximately $700,000 USD, while the bank indebtedness will be under 50% of equity value. The financially structured deals with private investors and private lenders as secondary holders of debt have flexible terms and create a stable low risk investment. Current tenants include executives of leading international corporations including the US, Germany, Japan and Israel. As one of the most prestigious addresses in NYC, the building has a high occupancy rate and future prospects for rental units in this luxury residence is assured, appealing to high net worth individuals, corporate tenants and because of its proximity to the United Nations, to diplomats and UN officials.
Key Benefits of Exxe Group Real Estate Acquisitions:
- Opportunistic control of high quality A-class US/NYC property assets.
- Luxury flagship properties with reliable income rental streams.
- Property Asset backing and value expansion through our Transaction Platform (Exxe’s proprietary financial software program) minimizing cash outlay and credit risks.
- Revenue streams from these luxury properties will over time reduce existing debt and interest expense, allowing Exxe Group a powerful combination of digital technology monetization coupled with traditional real estate ownership that will enhance Exxe Group shareholder value.
The current acquisitions of 5-star residences integrates well with overall corporate strategy that operates at the cross section of RE/TMT private equity investments, positioned to maximize value generation through improved asset monetization, digitization, higher utility & returns to investors. New Digital Technology brings innovative ways of treating and monetizing assets; world renowned residences bring international exposure and new interest from investors who want to own Manhattan real estate through the Exxe Group portfolio.
Our Transaction Financial Software Platform expands the value delivered through collateralization, securitization and credit access to our newly acquired assets. In addition to enabling a transaction layer, value is enhanced by providing a distinct user experience as a differentiator for the assets acquired. These acquisitions will unlock shareholder value in strong and reliable asset classes and provide growth and continued expansion through new technologies.
Edward Nazmiev PHD, CEO, said, “Exxe Group continues to make bold steps in executing its strategy and is on track with what we outlined as part of a $100 million pipeline. Acquisitions in prime markets in the US should build the confidence our investors want to see. A strong balance sheet with reliable assets, multiple revenue streams, a great mix between traditional real estate assets and monetization by way of a disruptive digital technology of the new economy. We are grateful for the opportunity to bring these and other, of the highest quality of assets under the Exxe Group umbrella.”
About Exxe Group: Exxe Group is a diversified corporation focusing on acquisitions in the following sectors: real estate, technology, media, and financial services. Exxe Group is an acquisition-driven company. The company strategy is to acquire controlling equity interests in undervalued companies and then take an active role in improving their performance - accelerating their growth by providing them with both access to capital and to management expertise. For additional information go to www.exxegroup.com
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