BLV Realty Group, Inc. Completion of Portfolio Divestment
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 01/23/12 -- BLV Realty Group, Inc. ("BLV Realty" or "the Company") announces that it has completed the divestment of non-performing assets within its International asset portfolio.
BLV Realty Group, Inc. acquired its affiliate partner BLV Group International in August of 2010. Since the acquisition, BLV Realty Group, Inc. commenced comprehensive review of all assets and operations of the acquired affiliate partner and has since completed restructuring of International operations. All of the non-performing assets, mainly single unit residential assets in Europe (the United Kingdom) appraised at approximately $49m, were either sold or handed back to the financiers (banks or investors) as part of the restructuring arrangement, and since the management concluded, those assets did not represent any significant value to the current overall portfolio of the BLV Group Companies or the acquired affiliate partner. The other assets which were sold as part of the divestment were a mix of residential and commercial assets in other parts of Europe representing a total value in excess of $150m.
The BLV Group continues to focus on growth within its core market in the United States as the US financial market and general economy improves. With significant increases already experienced with its core residential and commercial assets, the Group also continues to focus on growth through its International subsidiary within the Asia Pacific market. There are no plans for any immediate expansion or acquisition in Europe.
Since the 4th quarter of 2010, BLV Group through its subsidiaries has made significant investments within its core markets in the United States and Asia Pacific and continues to expand its portfolio within these markets.
The BLV Group and its subsidiaries continue to develop and implement initiatives introduced by its Chairman, Mr. Raheem J. Brennerman who previously served as the Group President and CEO.
BLV GROUP LLC "THE BLV GROUP CORPORATION" is the parent company for all BLV Group Companies. The BLV Group Companies is headquartered in New York City, New York with operating presences or asset throughout the United States, Europe and Asia Pacific.
BLV Group is a leading multi disciplined organization with focus in real estate investing, management and development, advisory, hospitality, lifestyle and non profit. The firm provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, governments and high net worth individuals. Founded in 2004, it is one of the fastest growing and dynamic firms. The firm is headquartered in New York City, and maintains presence or offices in London, Hong Kong, California and other major financial centers around the world. More information at ,
(212) 672-1771
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Datum: 23.01.2012 - 13:11 Uhr
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News-ID 106593
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