Business
Exxe Group is Set to Double Current Assets on Implementation of Memorandum of Understanding
Exxe Group is Set to Double Current Assets on Implementation of Memorandum of Understanding.
About this update from Exxe Group Inc.
[{"type":"text","content":"\nNEW YORK, NY, Nov. 26, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE-- 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 an immediate pipeline of acquisitions including a two level Penthouse, located in South Beach, Miami, Florida, and several prestigious, 5-star residences in New York City, that includes a gala reception space of 5000+ sq.ft. at a landmark tower.\n The milestone agreement that contains these acquisitions is a binding Memorandum of Understanding valued at $19 million of A-class, 5-star residences located in one of the tallest, top rated NYC towers in midtown Manhattan. The detailed contractual agreement is scheduled to be completed within 10 days. Once completed this transaction will double Exxe Group’s current assets under management. Residences at the NYC property include the following: Four luxury condominiums located in the prestigious East Side of Manhattan. Residences range from just under 2000 square feet to almost 3000 square feet. Recent renovations include new state of the art kitchen and bath appliances.  The luxury condo residences feature spectacular views of the NYC skyline; previous building’s residents included Derek Jeter, Bill Gates, Harrison Ford, Jocelyn Wildenstein, Kellyanne Conway, Sophia Loren.  The condominiums held by Exxe Group will be purchased through a combination of cash, privately structured capital investments and traditional bank loans. The projected revenue stream from tenant rentals is approximately $700,000 USD, while the bank indebtedness will be under 50% of equity value. The financially structured deals with private investors and private lenders as secondary holders of debt have flexible terms and create a stable low risk investment. Current tenants include executives of leading international corporations including the US, Germany, Japan and Israel. As one of the most prestigious addresses in NYC, the building has a high occupancy rate and future prospects for rental units in this luxury residence is assured, appealing to high net worth individuals, corporate tenants and because of its proximity to the United Nations, to diplomats and UN officials. Key Benefits of Exxe Group Real Estate Acquisitions:  Opportunistic control of...