Nov 17, 2021 | Books, Business
5 MLK
LOS ANGELES – Nov. 15, 2021 – PRLog — Mesa West Capital has provided the joint venture of The Green Cities Company and American Realty Advisors with $100 million in first mortgage debt to refinance 5 MLK, a recently completed mixed-use development in Portland, OR.
The 17-story LEED Gold building developed by The Green Cities Company consists of 220 multifamily units on top of 118,000 square of commercial office space, 14,000 square feet of ground floor retail space, with subterranean parking for 165 automobiles. The glass curtain wall building is located at 5 SE Martin Luther King Jr. Blvd, in the popular Close-In Eastside neighborhood at the foot of Burnside Bridge providing residents with a direct connection via bicycle or automobile to Old Town and Downtown Portland. In addition to the numerous entertainment, dining and shopping options in the Close-In Eastside neighborhood, residents also can walk to the nearby Pearl District, one of Portland’s more popular shopping destinations.
Mesa West Capital’s five-year, floating rate, non-recourse loan retires the existing construction loan, with a portion of the proceeds to be used for costs associated with stabilizing the commercial and residential space.
The residential component, which offers a mix of studio, one- and two-bedroom floorplans has seen significant leasing velocity since being delivered in late 2020. The residential units have been built with top quality finishes that are complimented with 30,000 square feet of shared tenant amenities that includes a fitness suite with yoga studios and showers, conference center with private work pods, wellness rooms, outdoor deck with swimming pool, outdoor bar area with firepits and grilling stations, dog wash station, and multiple indoor lounges on the 6th and 17th floors. The retail and office components of the Property are currently vacant.
“The Close-In Eastside neighborhood has experienced substantial redevelopment activity in the last 10 years spurred in part by the investment in transportation infrastructure by the city of Portland,” said Mesa West Director Joshua Westerberg who led the origination team out of the private lender’s San Francisco office. “This activity has resulted in a significant increase in the residential population along with a migration of commercial tenants to newly constructed and converted creative office buildings. At the base of the Burnside Bridge, 5 MLK sits at the center of this activity and is well poised to capture both residential and commercial demand in greater Portland. The sponsor has an extensive history developing and operating some of the city’s most prominent buildings and we are confident in their ability to successfully capitalize on 5 MLK’s unique potential.”
Ramsey Daya, Vice Chairman with Newmark arranged the financing. Gibson, Dunn, and Crutcher LLP represented Mesa West Capital as legal counsel for the transaction, led by a team including Mark Osher, Eric Steiglitz and Adam Hopkins
About Mesa West Capital, LLC
Mesa West Capital (http://www.mesawestcapital.com) is a leading commercial real estate debt fund manager and portfolio lender. With offices in Los Angeles, New York, Chicago and San Francisco, Mesa West has been one of the leading providers of commercial real estate debt since its founding in 2004. Mesa West provides non-recourse first mortgage loans for core/core-plus, value-added or transitional properties throughout the United States. Mesa West’s lending portfolio includes all major property types with loan sizes ranging from $20 million up to $400 million. Since inception, the firm has sourced and closed more than 300 transactions totaling over $20 billion.
Contact
Bruce Beck
DB&R Marketing Communications, Inc.
***@dbrpr.com
Sep 1, 2021 | Business
DigiMax Global Inc. (the “Company” or “DigiMax”) (CSE:DIGI)(OTC:DBKSF), a company that provides artificial intelligence (AI) and cryptocurrency technology solutions, is pleased to announce that it has received confirmation from the Cayman Islands Monetary Authority (CIMA) to operate one or more segregated funds domiciled in the Cayman Islands under registration number 1900360 (the “Fund”).
As originally announced on April 19, 2021, the Fund will provide a fully systematic long/short active investment into a basket of cryptocurrencies capitalizing on crypto volatility and powered by proprietary trading algorithms. The Fund will, on a simultaneous basis with its subscribers, utilize the CryptoHawk prediction engine, to continuously spot relevant patterns, make decisions and generate accurate price trend change predictions. With this Fund, DigiMax aims to offer alternative investments to high net-worth individuals, institutions, and family offices in a bid to allow such investors to protect their investment portfolios from market volatility, while generating positive returns regardless of market sentiments and direction.
The fund is open to investors from around the world but it may not be marketed in some jurisdictions including the United States. Minimum investment size into the Fund is US$100,000.
The fund is served by a group of first-class, highly experienced third-party service providers that includes:
Investment Manager: Seneca House Fund Management
Administrator: Sudrania Fund Services Corp.
Auditors: KPMG
Legal Counsel: Forbes Hare Pte. Ltd.
Custodian: SFOX Inc.
Prime Broker: SFOX International Ltd.
Depository Bank: DMS Bank & Trust Ltd.
“This actively managed Fund provides an excellent opportunity for larger investors to gain exposure to cryptocurrencies in their portfolios. Through the use of CryptoHawk and DigiMax artificial intelligence capabilities, investors can profit from high volatility all while reducing risk and volatility in their own portfolio,” said Seneca House CEO Miltiades Caldis.
Seneca House is the registered Portfolio Manager and owns 20% of the Fund with DigiMax owning the remaining 80%. DigiMax has reserved an option for 18 months to acquire an additional 15% of the Fund for the higher of US$1 million or 2% of Assets Under Management from Seneca House.
“Given the results we have seen from CryptoHawk since it was introduced on June 1, 2021, we believe this Crypto Hedge Fund will provide a perfect solution for large investors, family offices and institutions who want to have crypto holdings in their own portfolios,” said DigiMax CEO Chris Carl. “Many of these investors have stayed away from investing in cryptocurrencies due to their high volatility. This Fund provides the perfect solution to this quandary by capturing profits from the high volatility in both up and down momentum markets and returning a more steady, non-volatile monthly return to investors.”
Fund documents can be obtained by contacting:
Seneca House Fund Management
3rd Floor, Zephyr House
122 Mary Street
George Town, Grand Cayman
Cayman Islands
Attn: Miltiades Caldis
Miltiades@senecahousefm.com
About DigiMax
DigiMax is an Artificial Intelligence technology company committed to unlocking the potential of disruptive technologies by providing advanced financial, predictive, and cryptocurrency solutions across various verticals. DigiMax is an official IBM Watson partner, and the Company’s engineering team has extensive experience in Machine Learning, Neural Language Processing, AI, Big Data and Cryptocurrency technology.
To learn more, visit our website: https://digimaxglobal.com/
Contact:
Damon Stone
Fund Investor Communications
647-465-0148
dstone@digimax-global.com
Chris Carl
President & CEO
416-312-9698
ccarl@digimax-global.com
Cautionary Note Regarding Forward-looking Statements
This press release contains “forward-looking statements or information”. Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements in this press release include, among others, statements about the Company and Kirobo Inc.’s future plans, expectations and objectives.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. The Company may not actually achieve its plans, projections, or expectations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the future plans of Kirobo Inc. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the adequacy of our cash flow and earnings, the benefits and uses of our software, the pricing and availability of our software, the availability of future financing and/or credit, and other conditions which may affect our ability to expand the platforms and software described herein, the level of demand and financial performance of the cryptocurrency industry, developments and changes in laws and regulations, including increased regulation of the cryptocurrency industry through legislative action and revised rules and standards applied by the Canadian Securities Administrators, Ontario Securities Commission, and/or other similar regulatory bodies in other jurisdictions, disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, consumer sentiment towards the Company’s products and services, failure of counterparties to perform their contractual obligations, government regulations, competition, loss of key employees and consultants, and general economic, market or business conditions, the impact of technology changes on the products and industry, the ability for Kirobo Inc. to complete its business objectives, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Contact