Wednesday, March 25, 2009
Resilience Capital Partners, a Cleveland-based private equity firm, announced today the addition of Stanley Shashoua to head up the firm's real estate fund. Mr. Shashoua and his team, based in New York City, will manage the real estate fund as a new Resilience dedicated effort separate from the firms other corporate recovery private equity funds based in Cleveland, Ohio.
Mr. Shashoua has extensive experience in real estate and finance. Prior to joining Resilience, Mr. Shashoua was a partner with HRO Asset Management where he acquired and managed over $1 billion of properties comprising over three million square feet on behalf of institutional clients. Mr. Shashoua's experience also includes working at Dresdner Kleinwort Wasserstein where he was responsible for $20 billion of transactions in private equity, mergers and acquisitions, public/private equity, and debt financings and restructurings across a broad range of industries including real estate, media, business and consumer services, industrial, food, and retail.
At Resilience, Mr. Shashoua will focus on identifying real estate opportunities that generate superior risk-adjusted returns while ensuring capital preservation. Resilience will consider a variety of property types including institutional quality office, retail, residential, hotel and industrial; traditional or distressed assets; and, raw or entitled land.
"I'm thrilled to be part of the Resilience team. I'm eager to put my deep and broad experience in real estate and finance to work at Resilience - a firm that is nimble, well-connected and passionate about the power of team work," explained Mr. Shashoua.
"Adding Stanley to our management team indicates the firm's continued commitment to hire and retain top talent," said Steve Rosen, co-CEO, Resilience Capital Partners. Co-CEO Bassem Mansour continued by stating that "Stanley's vast knowledge of the real estate industry and impressive track record helps round out our skill base and ensures Resilience's success in today's challenging business environment."
About Resilience Capital Partners
Headquartered in Cleveland, Ohio, Resilience Capital Partners is a leading private equity firm specializing in investing in lower middle market companies within a broad range of industries. Resilience's value oriented investment strategy is to acquire companies with solid business prospects in a variety of special situations including underperformers, corporate divestitures, turnarounds, and orphan public companies. Its team of in-house professionals brings both operational and transactional expertise to its portfolio companies. Since inception in 2001, Resilience has acquired 17 companies with total revenue in excess of $1.5 billion and over 4,000 employees. The Resilience Real Estate Fund is focused on investing in hospitality, retail, office and multi-family properties, including the formation of property-related debt/equity securities, and property-related operating businesses. For more information, please visit www.resiliencecapital.com.
Labels: Resilience Capital Partners Names Stanley Shashoua Managing Partner Of Real Estate Fund
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Monday, March 16, 2009
EZTEC S.A. announces today its results for 2008.
Highlights
-- In fiscal year 2008, EZTEC's Net Revenue was R$334.0 million, growing 81.2% in relation to 2007.
-- Gross Income in the fiscal year was R$160.2 million, up 70.3% versus 2007, for gross margin of 48.0%.
-- EBITDA in 2008 was R$77.8 million, an increase of 332.0% in relation to 2007, for EBITDA margin of 23.3%.
-- In 2008, Net Income was R$102.2 million, 213.1% higher than in 2007, for net margin of 30.6%.
-- Net Cash closed 2008 at R$175.4 million, while performed receivables from real estate developments totaled R$91.8 million.
-- Launch in 4Q08 of the Chacara Sant'Anna development located in the city of Sao Paulo, with own potential sales (PSV) of R$67.1 million. At the close of 4Q08, 51% of the project's units were sold, with an average unit price of approximately R$1 million.
-- EZTEC's share of Contracted Sales totaled R$357.9 million, up 2.2% versus 2007.
-- On December 31, 2008, EZTEC's land bank was worth R$3.4 billion in own PSV. The average land bank acquisition cost is 8.8% of PSV.
About EZTEC
With a 30-year history, EZTEC is one of the most profitable publicly held companies within the Brazilian real estate industry. Through its entirely integrated business model, the Company has already launched 51 projects, totaling 1.1 million square meters including built area and area under construction, and 8,609 units. EZTEC S.A. is listed on the Bovespa's Novo Mercado segment under the ticker EZTC3.
Website: http://www.eztec.com.br/ir/ posted by Avoid foreclosure, We buy houses, Stop foreclosure
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