Roundup: Real Estate Deal Aimed at New York's Distressed Market
Vision Real Estate Management and Development has closed its merger with Future Capital Investments, a deal Vision says will position the firm "to be a force in the distressed real estate market in upstate New York."
In June, the company announced signing letters of intent with three private companies. By finalizing the merger with Future Capital Investments, Vision has completed the process, said outgoing president Daniel Duffy, who remains a director with the firm.
Visions One Management Group, Capital District Property Investors and Future Capital Investments are real estate investment firms. They specialize in acquiring, rehabilitating and transitioning foreclosed real estate to individual investors. The firms also provide property management services to the investors after the sale of the property.
"While we are excited about finalizing the last of these mergers, now is the time to increase the production of the combined companies," said Donovan Rhoden, the newly appointed president. "Furthermore, we expect to invest upwards of $3 million this year. This should result in profits in excess of $900,000," he said.
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