Tag: Diversified

Cresset Diversified QOZ Fund Announces Loan Closing and Construction Start for Investment in Denver

CHICAGO–(BUSINESS WIRE)–Cresset Partners and Diversified Real Estate Capital announced today the loan closing and construction start for the Cresset Diversified QOZ Fund (“Fund I”) investment in the Residences at RiNo multifamily development in Denver, Colorado.

This investment marks the fourth joint venture between Cresset Diversified and Hines, representing over $750 million in opportunity zone developments around the country. Led by Cresset Diversified’s experienced team of real estate, private equity, tax, and legal professionals, Fund I invests in institutional-quality, core real estate development projects and focuses specifically on well-positioned urban neighborhoods in high-growth markets like Denver.

Residences at RiNo is a build-to-core multifamily real estate project located in North Wynkoop, a premier master-planned district and is the only available multifamily development site within the master plan which is located in a qualified opportunity zone, just north of Downtown Denver. The property will be an 11-story, mid-rise residential building with

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Diversified Royalty Corp. Provides a Business Update

VANCOUVER, British Columbia, Sept. 14, 2020 (GLOBE NEWSWIRE) — Diversified Royalty Corp. (TSX: DIV and DIV.DB) (the “Corporation” or “DIV”) is providing an update on the businesses of its royalty partners.

Mr. Lube

Mr. Lube Canada Limited Partnership’s (“Mr. Lube”) business has continued to stabilize since provinces started easing the restrictions put in place to fight the COVID-19 pandemic and Canadians began driving more. Mr. Lube has been proactive in enacting measures to support franchisee cash flow, including negotiating rent deferrals and concessions, suspending marketing contributions, arranging for improved payment terms with suppliers and promoting government sponsored initiatives. Further, all Mr. Lube locations have resumed normal operating hours, and Mr. Lube has advised DIV that marketing activities are ramping up. Mr. Lube generated same-store-sales-growth (“SSSG”) for the Mr. Lube stores in the royalty pool of 1.1% in July 2020 and -0.5% in August 2020, compared to SSSG of -12.5% for … Read More

Compass Diversified Appoints Katie Melzer as Managing Director and Head of Business Development

The MarketWatch News Department was not involved in the creation of this content.

WESTPORT, Conn., Sep 14, 2020 (GLOBE NEWSWIRE via COMTEX) —
WESTPORT, Conn., Sept. 14, 2020 (GLOBE NEWSWIRE) — Compass Diversified Holdings, doing business as Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, today announced the appointment of Katie Melzer as Managing Director and Head of Business Development. Ms. Melzer will work closely with CODI’s investment team to develop and maintain relationships with intermediaries across the country and work with CODI’s existing subsidiaries to foster growth through opportunistic acquisitions.

Prior to joining CODI, Ms. Melzer spent more than 15 years at Robert W. Baird & Co. (“Baird”), most recently serving as a Director in the Consumer Investment Banking group. In this role, she worked with private equity firms and multinational companies on sell-side, buy-side and financing transactions, gaining significant cross-border transaction

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