Business
Exxe Completes 19 Million Deal and Announces Plans for Further Acquisitions
Exxe Completes 19 Million Deal and Announces Plans for Further Acquisitions.
About this update from Exxe Group Inc.
[{"type":"text","content":"\nNEW YORK, Dec. 10, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Exxe Group (OTC PINK: AXXA), a diversified corporation focusing on investments in international real estate, financial services, AI, fintech and media, is pleased to announce that all negotiations have been finalized and has completed a highly anticipated 19 million, acquisition of  5-star luxury residences. The multi unit’s transaction involves contractual formations of a number of legal entities that protect the interests of all parties. As has been previously noted, the completed transaction will double the value of Exxe Group’s current assets under management.\n Condo Property Details: Luxury condominiums located at a prime location in midtown Manhattan, dimensions from just under 2,000 square feet to approximately 3,000 square feet. The luxury residences feature spectacular views of the NYC skyline. Control over the condominiums was purchased through a combination of installment payments of cash, debt, and assumption of bank loans, privately structured capital investments and personal guarantees from Exxe’s management. Revenues from tenant rentals is expected at $700,000; under 50% bank loans LTV lowers the risks. The condos are inhabited upscale long term tenants. The building is one of the most prestigious high rises located in NYC, with a high occupancy rate, and in high demand by high net worth and corporate tenants.Benefits Include: Opportunistic control of quality A-class NYC property, luxury flagship, reliable rentals, real property asset backed investments, value expansion through our Transaction Platform. Exxe Group brings a powerful combination of monetization through Exxe Group’s digital technology coupled with traditional real estate ownership. These internationally recognized real property acquisitions gather heightened interest from investors who want to own Manhattan real estate within the Exxe Group portfolio that monetizes assets in innovative ways. Future plans: The next tranche of Exxe Group’s ambitious real property acquisitions includes a new class of real property assets.  EG plans to expand into European Boutique Hotel acquisitions and is negotiating to acquire a real estate group out of Switzerland that operates small to midsize hotels. EG is also scheduled to release an exciting update on the dev...