Acumen Companies Announces Acquisition Agreement
WASHINGTON, Feb. 10, 2017 /PRNewswire/ -- Acumen Companies ("Acumen"), a real estate services company which provides capital, development, construction, and management services, has entered into a definite agreement to acquire Urban Investment Group ("UIG"), the fastest growing Washington, D.C. real estate company. The acquisition will result in Acumen Companies, a parent entity of Acumen Capital, forming a family of five entities to include Acumen Capital, Acumen Development, Acumen Construction, Acumen Affordable, and Acumen Management.
The transaction represents a key milestone in Acumen's strategy to gain substantial market share in real estate development and construction, in addition to being a market leader in alternative lending and capital investment.
In connection with the acquisition, Abiud Zerubabel, Founder and CEO of Urban Investment Group, will join the Board of Directors at Acumen Companies. Acumen Companies' executive management team will comprise of executives from both Acumen and Urban Investment Group.
Urban Investment Group has a pipeline of projects under construction and land for future development that could add over 250,000 square feet to the portfolio, positioning the Acumen Companies for strong growth and attractive shareholder returns.
"This Acquisition will create a next generation real estate company and allow us to continue to grow exponentially by gaining substantial market share," stated Mr. Zerubabel. The acquisition is expected to close in the second quarter of 2017. Chi Perrus, Interim Chief Operating Officer of Acumen Companies said "the acquisition allows Acumen Companies to instantly elevate its level of intellectual capital by bringing on an experienced set of talented individuals who have been tremendously successful at real estate development in Washington, D.C. over the past decade. The tools and resources that UIG will bring to Acumen Companies will allow us to strengthen our platform, and build on the accomplishments of UIG."
Ranked #2 on INC. 5000 fastest growing Washington, DC companies in 2016, Acumen Capital will maintain its focus as an alternative capital provider offering tailored debt and equity solutions. While Acumen Development will be dedicated to creating quality multi-family homes and mixed used properties in blossoming D.C. communities. Consistent with UIG's high standard, Acumen Construction will continue to offer a range of construction management, design/build, scheduling, and consulting services maintaining the tactical and innovative approach that has earned UIG notoriety as an emerging developer and resulted in INC Magazine recognizing UIG as the fourth (4th) fastest growing company in Washington, D.C. Acumen Affordable will focus on Acumen Companies' evolving mission to offer indisputably high-grade developments while maintaining accessibility to all communities and Acumen Management will employ a two fold approach to management, including stellar management of the investment and unparalleled management of the property.
This merger will cement Acumen Companies' commitment to generate and engage in diverse projects that yield superior, risk-adjusted profits while handling every aspect of the real estate investment from beginning to end. The mission of Acumen Companies is to provide high-grade management, lending, development, and construction services to real estate properties throughout the Washington, D.C. area while maintaining dedication to the communities in which it operates. With ample in depth knowledge of the D.C. area, Acumen Companies will be a collective and innovative force with a significant presence in the D.C. market.
For more information on this acquisition, please contact Chi Perrus at 202.536.2660, or visit www.acumencos.com.
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SOURCE Acumen Companies
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