here it is
emington-Hall Acquires Three Private Real Estate Companies
DALLAS--(BUSINESS WIRE)--June 10, 1998--
Continental Investment Group, Vision 2005 and Vision Reality Add
$3.9 Million Gross Assets to Publicly Traded Company; Nance to
Serve as Vice President
Remington-Hall Capital Corporation (OTC BB:REMH), a diversified real estate investment firm, has completed a merger with three interrelated real estate companies, Continental Investment Group (CIG), Vision 2005 and Vision Realty. Rob Nance, president of Vision 2005 and Vision Realty, has also been named a vice president for Remington-Hall and interim president of CIG.
The majority of assets from the acquired companies are rent-producing multi-family properties in Dallas and Beaumont, Texas, giving Remington-Hall immediate cash flow. "We're gaining much more than just assets," said Douglas T. Fonteno, president & chief executive officer of Remington-Hall. "We're acquiring Rob's expertise and the entire Vision team to our company. Rob has done well without the capital of a public company. This merger gives him additional clout and gives Remington-Hall an aggressive acquisition and development specialist," Fonteno said.
Based in Dallas, the three newly acquired entities worked interdependently as one larger company. Vision 2005's principal mission was buying undervalued property, renovating it and selling. As a retail buyer of cash-flowing real estate, CIG purchased the renovated properties from Vision 2005. Vision Realty located properties exclusively on behalf of Vision 2005 to purchase for renovation.
"Now that we're a part of Remington-Hall, we'll be able to go after much bigger projects than we ever imagined and at a much quicker pace," Nance said. "This is an excellent move for all of our companies." Rob Nance has been president of Vision 2005 since its inception in 1995. Before forming that company, Nance served in many positions of leadership with other real estate ventures, manufacturing firms and restaurants. He was a top graduate of Lamar University with a degree in marketing.
Remington-Hall Capital Corporation (www.remington-hall.com) is a diversified real estate investment company specializing in multi-family and mid-rise commercial office building acquisitions through merger and debt restructuring. The company aggressively pursues unique investment opportunities in steeply undervalued assets due to previous owner mismanagement or undercapitalization. |
