DALLAS, Dec. 19, 2012 /PRNewswire/ -- LIG Assets, Inc. (OTCPK: LIGA), a multi-faceted Company focused on real estate and technology, is pleased to announce that it has entered into a strategic alliance with Texas Real Estate Hedge Fund, LP to invest, acquire, manage and finance commercial real estate properties. Geographically these assets will be well located properties in the Southwest, West and Midwest sectors of the United States.
Texas Real Estate Hedge Fund, LP will focus on commercial real estate opportunities with valuations ranging from $5M to $100M. The composition of these assets will cover Multifamily, Retail, Destination Hotel and Office properties. LIG Asset's and Texas Real Estate Hedge Fund's expertise, in association with a seasoned team from MMR Realty Advisors and Inter Continental Real Partners will selectively analyze and underwrite the targeted acquisitions.
This strategic alliance, with a strong focus and many successful years of experience, has been developed with the opportunity to take positions in assets that are "Off Market" and can be acquired on a negotiated basis. Given the repositioning of the Commercial Mortgage-Backed Securities and the upcoming Commercial real estate maturities, LIG Assets and Texas Real Estate Hedge Fund, LP foresees significant opportunities in calendar year 2013 and beyond.
It is noted that in August 2012, LIG Assets announced plans to purchase income producing properties to expand its overall portfolio many times. It added that, if successful, the large size of the portfolio would warrant the Company to establish a real estate investment trust (REIT), spin it off to LIGA shareholders, and establish payments of cash dividends quarterly from the REIT.
Today's announcement is a significant step in achieving the goals set forth in the August 2012 press release. Jeff Love, CEO of LIG Assets stated, "This is clearly a milestone achievement for LIG Assets and our shareholders. We are thrilled to embark on a partnership that we anticipate will provide handsome returns."
Victor F. Russell is the Managing Director of Texas Real Estate Hedge Fund, LP. Mr. Russell has thirty-five years of expanding entrepreneurial experience in commercial real estate brokerage, acquisitions, development, appraisal reviews, finance and mortgage banking. Mr. Russell's past experience includes Managing Director for Bear Stearns / EMC real estate division with a valuation of over $1.6 billion dollars of REO's, non-performing, subperforming and performing pools of mortgages. He is experienced in Due Diligence contracting, Underwriting / review of commercial and multifamily portfolios per CMBS, HUD, Fannie Mae / Freddie Mac guidelines. He has originated and underwrote in excess of $200M in residential mortgages for securitization with institutional and Pension Fund investment Boards. His commercial real estate brokerage and mortgage banking expertise, evolved from an initial eight years in the residential real estate area with an annual sales average of $4.6M through First United and Re/Max International Realtors.
About Texas Real Estate Hedge Fund, LP (TREHF)
TREHF is a registered investment fund originated in 2005 for the acquisition of opportunistic asset-base joint ventures in a variety of real estate based transactions with insurance companies and institutional investors in Texas. This registered entity is governed by the Texas Exempt Registration rule 505 of the SEC. Only investors and participants (entities) having a network of $1 million or greater can legally invest. Primary assets targeted will be real estate within the State of Texas. TREHF investment goals are to provide annual cash on cash returns competitive to comparable market rate investments. MMR Realty Advisors manages and advises TREHF on its investment parameters.
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a multi-faceted worldwide investment company that focuses on real estate, oil and gas, technology, and entertainment. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA".
For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the U.S. Securities and Exchange Commission (SEC).
LIG Assets, Inc.
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