MIAMI and NEW YORK, May 18, 2016 /PRNewswire/ --
The Libra Group today announces the creation of a new real estate company for the Americas. Elandis, born out of group's former subsidiaries, FCA Group, FSA Group and US Hotels, incorporates Libra's entire real estate ownership, development and property management capabilities in the region. It brings a new, integrated player to the North, Central and South American real estate markets with a focus on diverse property assets in the residential, commercial, industrial and hospitality sectors.
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The company has approaching 2,500 residential units, 25 hotels and 10 real estate development projects across six countries. It has a combined portfolio of more than 5.8 million square feet developed and under development and is a major player in the multifamily residential sector, owning units primarily in the southern United States.
Elandis's hospitality portfolio of 25 hotels ranges from historic properties in New England, USA to a new villa and hotel development south of Buenos Aires, Argentina. The company has formed a landmark partnership with Hyatt Hotels for the $300 million development of nine Hyatt Place hotels throughout Brazil and has a close relationship with its sister company within the Libra Group, Grace Hotels - owning and developing Grace properties throughout the region.
The company's residential investments outside the multifamily sector include premium properties in prime locations throughout the Americas. Its commercial real estate is typically located in primary markets secured by leases from strong and stable tenants while its industrial investment strategy concentrates on the growing demand for logistics and warehousing facilities.
The Elandis property management team offers a full range of property management services to third-parties such as property owners, investors and homeowner associations. The scope of services spans the entire property management lifecycle from routine maintenance to consulting on revenue management and rental agreements. The company's strategy for its own and third party projects is to optimize living conditions for residents and reduce tenant turnover, thereby raising overall occupancy and rental rates, and upholding long-term asset values.
"Over many years we have developed comprehensive experience in the real estate sector throughout the Americas," comments Frank Espinosa, CEO of Elandis. "This new company embraces capabilities spanning property development to investment along with the management of individual estates and assets. Our expertise and insight across multiple real estate sectors represents a unique platform for commercial growth in the Pan-American market. Through further investment and the formation of strategic partnerships we intend to develop our core business within and beyond the countries in which we are now present." Elandis has principal offices in Miami, New York, Buenos Aires, São Paulo, Panama City and Madrid.
Elandis develops, owns and manages real estate assets throughout the Americas with over 5.8 million square feet both developed and under development. Its development strategy is focused on real estate assets in the residential, commercial, industrial and hospitality sectors including a major portfolio of multifamily properties, principally in the southern United States. http://www.elandis.com
Elandis is part of the Libra Group, an international business group which is focused on shipping, aviation, real estate, hospitality and renewable energy as well as selected diversified investments. Libra Group has a track record of large-scale real estate investment across six continents.
SOURCE Libra Group