Brief: Bridge Investment Group to Launch Single-family Rental Strategy Through Transaction With Gorelick Brothers Capital

Bridge Investment group

17/12/2021 14:12

Dec 17 (Reuters) - Bridge Investment Group Holdings Inc
 BRDG.N :
    * BRIDGE INVESTMENT GROUP TO LAUNCH SINGLE-FAMILY RENTAL
STRATEGY
THROUGH TRANSACTION WITH GORELICK BROTHERS CAPITAL
    * BRIDGE INVESTMENT GROUP HOLDINGS INC- AS PART OF
TRANSACTION CO
ACQUIRING 60% OF GBC'S BUSINESS, VALUED AT $50 MILLION
    * BRIDGE INVESTMENT GROUP HOLDINGS INC- EXPECTS TO FUND 50%
OF
ACQUISITION WITH CASH AND 50% WITH UNITS OF BRIDGE INVESTMENT
GROUP HOLDINGS LLC
    * BRIDGE INVESTMENT GROUP HOLDINGS INC- UPON COMPELETION OF
DEAL,
GBC TEAM WILL JOIN BRIDGE TO LAUNCH AN SFR STRATEGY ON BRIDGE
PLATFORM
    * BRIDGE INVESTMENT GROUP HOLDINGS - UPON COMPLETION OF
DEAL, CO
AND KEY PRINCIPALS OF GBC WILL FORM AND OWN A NEW SFR INVESTMENT
MANAGER WITHIN BRIDGE
    * BRIDGE INVESTMENT GROUP HOLDINGS - CO, GBC PRINCIPALS WILL
LEAD
$660 MILLION RECAPITALIZATION OF PORTFOLIO COMPRISING OVER 2,700
HOMES IN 14 MARKETS
    * BRIDGE INVESTMENT GROUP HOLDINGS INC- UPON CLOSING DEAL,
BRIDGE
WILL INDIRECTLY OWN A MAJORITY OF SINGLE-FAMILY RENTAL
INVESTMENT MANAGER
    * BRIDGE INVESTMENT GROUP HOLDINGS-  PRINCIPALS OF GBC WILL
OWN
40% OF NEW BRIDGE SINGLE-FAMILY RENTAL INVESTMENT AND PROPERTY
MANAGEMENT CO

Source text for Eikon:  ID:nBw5j8FvRa 
Further company coverage:  BRDG.N 

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