Replies to post #5655 on Reliance Global Group Inc (RELI)

[Holdingprofits]

Fantastic post!

[Luckysevens]

Yeah nice post smarty pants

[Holdingprofits]

Let’s make this a sticky.

[dshade]

nice sumation.

[soupbone]

I think this stock has amazing potential but one thing concerns me about your post is that AS being increased to 2 billion common shares. Assuming this is used to finance acquisitions, share price could be constrained for quite some time. I hope it’s not the case however. GLTA $EOMN

[Reversemergers]

Everyone should read this post, especially those who are new here.
This list will bring you up to speed.

[The_Free_Nebula]

Thanks for the detailed response...

[RiseandShine]

Interesting 100M shares went to Reliance Global Holdings when they offered 100M shares before in 2009 at $10 a share in hopes to raise $1B:

$10.00 PER SHARE Minimum Initial Purchase — 200 Shares
Empire American Realty Trust, Inc. is a newly formed Maryland corporation incorporated on March 26, 2009 and sponsored by Empire American Holdings, LLC, one of the largest private property holders in the United States. We are offering up to 100,000,000 shares of common stock to investors who meet our suitability standards and up to 10,000,000 shares of common stock to participants in our distribution reinvestment program. We reserve the right to reallocate the shares of common stock we are offering between the primary offering and our distribution reinvestment plan. We intend to use substantially all of the net proceeds from this offering to acquire a diverse portfolio of multifamily properties located in the United States and real estate-related debt and securities. The dealer manager of the offering, Empire American Realty, LLC, has applied for membership as a member firm of the Financial Industry Regulatory Authority. Our dealer manager is not required to sell a specific number or dollar amount of shares but will use its best efforts to sell 100,000,000 of our shares and may engage third party soliciting dealers in connection with this offering.



Empire American Holdings, LLC, our sponsor, is a national real estate investment firm based in New Jersey that focuses on acquiring and managing residential and commercial properties across the United States. Our sponsor has been ranked by the National Multi Housing Counsel in its publication, the NMHC 50, as of January 1, 2009, as the 28th largest U.S. apartment owner and the 24th largest U.S. apartment manager. Since 1983, our sponsor has acquired residential properties across the United States, currently totaling approximately 328 properties with more than 40,000 residential units in 17 states. Our sponsor has interests in a portfolio of properties currently valued at approximately $2.7 billion based on recent appraisals and management’s estimates of property values using recent sale information and using capitalization rates of comparable properties. Our sponsor is supported by Empirian Property Management, Inc. (“Empirian”), a property management company that employs over 1,100 people nationwide.

From January 1, 1999 through March 31, 2009, our sponsor purchased a number of Non-Program Properties, including commercial office buildings and residential multifamily properties. Our sponsor has had control over the investment and operating decisions of the Non-Program Properties since the date of purchase. The approximate acquisition cost of such properties was in excess of $1.3 billion, which represents the approximate prices paid for the properties and not their current fair market value. The properties were purchased with a combination of our sponsor’s capital and senior and mezzanine financing. From January 1, 1998 through March 31, 2009, the aggregate cash distributions to our sponsor from the operations, sales and refinancing proceeds of the Non-Program Properties was approximately $264 million.

Lexford Portfolio
On October 5, 2006, our sponsor purchased, through an affiliate, a residential property portfolio known as the Lexford Portfolio from Equity Residential Properties Trust (NYSE: EQR) for $1,083,000,000. Our sponsor acquired the Lexford Portfolio utilizing $957,100,000 of senior debt financing and $112,600,000 of mezzanine debt financing. The Lexford Portfolio consists of 289 properties located in Maryland, Georgia, Indiana, Kentucky, Tennessee, South Carolina, Ohio, Pennsylvania, Michigan and Florida comprising a total of 27,115 residential apartment units constructed between 1976 and 1989. The Lexford Portfolio property management division has approximately 1,100 employees. On May 9, 2007, our sponsor refinanced the Lexford Portfolio for $1,413,800,000 by means of the following:

• a loan from Merrill Lynch in the principal amount of $1,050,000,000 due June 8, 2017;
• a loan from Fannie Mae in the principal amount of $293,800,000 due June 8, 2017; and
• a preferred equity investment from Arbor Realty Funding LLC of $70,000,000.
Our sponsor refinanced the Lexford Portfolio in 2007 because interest rates were favorable and our sponsor was able to monetize part of the appreciation in the value of the portfolio.

Other Multifamily Properties
From January 1, 1998 through March 31, 2009, our sponsor acquired:

• Empirian on Central, a 414 unit residential property located in Phoenix, Arizona;
• Empirian at Steele Park, a 399 unit residential property located in Phoenix, Arizona;
• Riverfront Towers, now known as Empirian at Riverfront, a 561 unit residential property located in Detroit, Michigan;
• Candlewood Apartments, now known as Empirian Candlewood, a 63 unit residential property located in Tampa, Florida;
• Country Square Apartments, now known as Empirian Country Square, a 72 unit residential property located in Tampa, Florida;
• Lanier Phase II, an 82 unit residential property located in Gainesville, Georgia;
• Villas at Kings Crossing, now known as Empirian Kings Crossing, a 133 unit residential property located in Jacksonville, Florida;
• Longleaf Apartments, now known as Empirian Longleaf, a 76 unit residential property located in Lawrenceville, Georgia;
• Vineyard Pointe Apartments, now known as Empirian Vineyard Pointe, a 108 unit residential property located in Riverdale, Georgia and
• Southlake Cove apartments, now known as Empirian Southlake Cove, a 346 unit residential property located in Jonesboro, Georgia.
https://www.sec.gov/Archives/edgar/data/1466085/000114420409056307/v159523_s11a.htm#tRF

Interesting the 100M share comes up again.

[RiseandShine]

Nice explanation about the SS on 11/4/2018