Global Asset Management Group Announces $21.25 Million Washington, D.C. Real Estate Acquisition Pipeline
Global Asset Management Group (OTCQB: GAMG) has announced an expansion of its real estate acquisition pipeline in Washington, D.C., totaling approximately $21.25 million in aggregate contracted purchase prices. The proposed deals include a $7.25 million portfolio in Cleveland Park consisting of multifamily and commercial properties, an $8 million multifamily property on Longfellow St. NW, and a $6 million property at Wilmington Place SE. The company intends to utilize these assets through its real estate platform to drive value via renovations, building-system upgrades, and operational improvements. If stabilization goals are met for the Cleveland Park portfolio, management estimates it could generate approximately $739,000 in annual net operating income. All transactions remain subject to financing, due diligence, and standard closing conditions.
Tickers: $GAMG
Topics: Asset Management Commercial Real Estate Multifamily Housing Real Estate Acquisitions