SANTA FE, N.M. /PRNewswire/ --
Gemini Investments (Holdings) Limited, a Hong Kong listed company
and U.S.-based Rosemont Realty, announce the formation of a joint
venture, Gemini-Rosemont Realty LLC, to acquire and manage Class A
institutional-quality commercial office properties in U.S.
markets.
Logo - http://photos.prnewswire.com/prnh/20150824/260437LOGO
"Gemini Investments' financial strength coupled with Rosemont's
existing platform, management team and superior track record
creates a powerful partnership," said Michael Mahony, chief executive officer of Gemini
Rosemont. "We see great opportunities to continue acquiring
high-quality real estate in the U.S. market while also harvesting
value for our investors, both existing and new. The possibilities
for this venture are tremendous."
Gemini Rosemont will launch a multi-year acquisition program
utilizing the joint venture's access to capital in the U.S. and
throughout the world. The company's investment strategy will build
on Rosemont's success targeting Class A properties in gateway,
primary, and select secondary U.S. markets.
In addition, a substantial portion of Rosemont's existing
portfolio, comprised of 135 buildings representing approximately
15.9 million square feet of commercial real estate in 22 U.S.
states will be transferred to Gemini Rosemont. The existing
Rosemont team will remain in place to run the operations of the
joint venture.
"Rosemont, with its comprehensive real estate platform and superior
performance history, was precisely the investment opportunity
Gemini Investments was looking for in order to invest in the U.S.
real estate market," said Li
Ming, chairman of Sino-Ocean Land Holdings Limited and
Gemini Investments. "We look forward to a strong and successful
partnership."
The other major partners in the Gemini Rosemont venture
are Dan
Burrell, chairman and chief executive officer The Burrell
Group, LLC, and former CEO of Rosemont; existing Rosemont senior management; and Neutron Property
Fund Limited, a fund specializing in real estate investment.
"Sino-Ocean Land and Gemini Investments
together represent one of Asia Pacific's leading commercial real estate
platforms," said Burrell. "This is an exceptional opportunity
for Rosemont to aggressively push forward its strategic
plan and I look forward to working closely with the company to make
this a reality."
About Gemini Investments
Gemini Investments is a Hong Kong-based corporation whose shares are listed on
the main board of The Stock Exchange of Hong Kong Limited
(00174.HK) and is an investment arm of Sino-Ocean Land, also listed on the Hong Kong Stock
Exchange (3377.HK) which is one of the largest real estate
companies in the
People's Republic of China (PRC) with an equity market
cap of over $4.3 billion. Sino-Ocean Land has acquired and developed millions
of square feet of commercial property in China and plans to utilize Gemini Investments as a
vehicle for direct investment in the U.S. as well as other parts of
the world.
About Gemini-Rosemont Realty LLC
Headquartered in Santa Fe, New Mexico, Gemini-Rosemont Realty LLC, is a
market leader in commercial real estate acquisition and asset
management. The company's portfolio consists of approximately 15.9
million square feet in 135 buildings in 22 states across the
U.S.
Since October 2010, Gemini Rosemont has acquired more than 6.8
million square feet of Class A and B multi-building office assets
in select secondary markets valued at more than $950 million. As of December 2014, Gemini Rosemont has sponsored 165
investment vehicles, deployed over $805 million of investor equity to
make over $2.5 billion in purchases, and acquired/managed
approximately 30 million square feet of commercial real estate.
Founded in 1991, Gemini Rosemont employs more than 200
professionals and has nine regional offices located inAlbuquerque, Atlanta, Dallas, Denver, Houston, New
York, Peoria, San
Antonio and Tulsa. For information, please visit
GeminiRosemont.com.