DURHAM, N.C., July 13, 2016 /PRNewswire/ -- The Guess Corporation through its subsidiaries The Guess Development Company and The Guess Construction Company will provide joint venture development services and construction to religious institutions such as churches and universities. As part of the specialized development programs, the development unit will provide full real estate development to these clients. The development unit will also share in the cost of constructing churches and university campuses. Churches will have the option of having a church built along with additional buildings such as an enrichment center, and the development unit will cover up to 75% of the cost under a development deal. The developed property may be co-owned or leased back to the organization under a long-term lease deal. Universities will have the same opportunity to access the resources of the development and construction units for build to suit long-term lease deals and also joint-ventures.
The development and construction programs are ideal for churches and universities that would like to build new edifices or educational halls but either lack the necessary capital to do so or wish to leverage their capital by taking on a development and construction partner. The minimum development/construction deal that will be considered is $1 million. All developments must be Class A and may include retail, residential, office and medical components according to client interests and requests. "The Guess Corporation looks forward to helping religious and educational institutions build exceptional quality new facilities that they otherwise would not be able to build, except with a committed development and construction partner," the company released in a statement.
ABOUT THE GUESS CORPORATION
The Guess Corporation is a conglomerate based in Durham, North Carolina and is currently privately-held. The company began as a luxury goods holding company in 2012 with a focus on diamonds and has expanded into other business areas.
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SOURCE The Guess Corporation