Encore Multi-Family Announces Sale of Denver Apartment Community and Recapitalization of Seven others - 21 News Now, More Local News for Youngstown, Ohio -

Encore Multi-Family Announces Sale of Denver Apartment Community and Recapitalization of Seven others

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Encore Multi-Family, LLC

DALLAS, July 3, 2014 /PRNewswire/ -- Encore Multi-Family, LLC (EMF), a division of the Dallas-based Encore Enterprises, Inc., has announced the sale of their Denver apartment community and the recapitalization of seven other apartment communities, five located in Texas, one in Oklahoma and one in Louisiana. The apartment communities totaled 1,612 units at a combined price of $175 million.  

"The recapitalization and sale provides a stronger financial foundation for the company going forward and is an important part of Encore's business strategy," said Dr. Bharat Sangani, Chairman of Encore Enterprises, Inc. "The additional liquidity obtained will enable the company to continue working towards its operational and financial goals and towards enhancing long-term value."

"The superior operating results from the properties were achieved due to excellent execution of our design, development, marketing and operating plans which maximized value," added Brad Miller, EMF's President.

About Encore Multi-Family, LLC
Encore Multi-Family, LLC is a subsidiary of Encore Enterprises, Inc. and was founded in 2008 as a fully integrated multi-family developer, owner and operator.  The company is involved in all aspects of multifamily development projects and acquisitions including ground-up developments, joint ventures and mixed-use turnkey developments.  For more information about Encore Multi-Family, LLC, visit www.encore.bz, or call (214) 259-7000.

About Encore Enterprises, Inc.
Encore Enterprises, Inc. is a privately owned national real estate company founded in 1999 with corporate headquarters in Dallas, Texas.  Encore develops, acquires, and manages hotels, multifamily communities, retail shopping centers, commercial offices, and public-private mixed use developments. For more information about Encore Enterprises, Inc., visit www.encore.bz, or call (214) 259-7000.

Contact: Amy Upton
Marketing Director
Encore Enterprises, Inc.

©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms