Reliance Global Group Inc (RELI)

[QaB2i]

Jun 14, 2019

The Company also provided an update on its previously announced two signed LOIs involving 19 multifamily properties. Reliance Global Group is still in the process of obtaining the bank approval for this loan assumption. Although the Company had originally planned to structure the real estate entity as a REIT, "Edmonton Realty REIT USA," it is also exploring alternative structures a "merchant" in the multifamily real estate industry, which has been a successful strategy of Reliance Global Holdings, LLC's principals for the past 30 years

Ezra Beyman, further noted, "While we have not ruled out the REIT structure, acting as a merchant may have numerous advantages, as complexes are acquired, upgraded utilizing our expertise, and then resold. We believe this structure could have a much more favorable impact to our bottom line over a typical REIT model, and we are actively evaluating our options."