LOS ANGELES, Dec. 7, 2018 /PRNewswire/ -- On November 30, 2018, affiliates of Strategic Acquisitions, Inc. ("SAI" or the "Company") announced that they have secured a loan credit facility commitment from funds managed by affiliates of BlackRock, Inc. ("BlackRock"), a highly diversified global investment manager with approximately $6.44 trillion of assets under management. The Company intends to use the proceeds from the facility to finance the acquisition, renovation and sale of single-family residential investment properties.
"We are excited to have BlackRock join our existing group of lenders. We look forward to continuing to grow and strengthen our relationship with BlackRock," commented Peter Baer, Chief Executive Officer of SAI. Added Saman Shams, Chief Investment Officer and Chief Strategy Officer of SAI, "BlackRock's investment validates our long-term strategy to build a full-service vertically integrated residential and commercial real estate platform and equips the company with the means to support our expansion."
Janney Montgomery Scott LLC acted as sole lead arranger in the transaction.
About BlackRock, Inc.
BlackRock helps investors build better financial futures. As a fiduciary to clients, BlackRock provides the investment and technology solutions needed when planning for their most important goals. As of September 30, 2018, the firm managed approximately $6.44 trillion in assets on behalf of investors worldwide.
About Strategic Acquisitions, Inc.
Strategic Acquisitions, Inc. is a privately-owned, institutional-grade, vertically-integrated, single-family residential ("SFR") operating platform and asset manager focused on acquiring, renovating, leasing, selling and managing quality SFR investment properties. SAI has pursued a differentiated strategy in the SFR industry and generally targets assets in Southern California. SAI's senior management team previously established and led some of the largest institutionally-backed SFR groups, deploying over $2 billion of equity capital. SAI has acquired, renovated, tenanted and managed or sold approximately 11,000 homes over the course of 30 years. The Company has developed its own best-in-class, institutional-quality operating platform including highly-scalable, fully-integrated and proprietary IT systems and experienced acquisition, rehab, leasing and management teams consisting of over 180 employees and 400 dedicated on-site and off-site construction professionals. SAI is privately owned and controlled.
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SOURCE Strategic Acquisitions, Inc.