Skyrise Development Group Announces Launch of Real Estate Equity Fund

    FORT LAUDERDALE, Fla., March 28 /CNW/ -- Skyrise Development Group, a
multi-faceted South Florida-based owner, developer and manager of prestigious
commercial and residential real estate properties throughout the United
States, has announced the launch of an important new real estate equity fund
to be known as Skyrise Real Estate Capital (SREC).
    SREC has already begun a $30 Million minimum, $50 Million maximum raise,
and is in discussions with several pension funds and institutional investors
throughout North America and Canada. Although The Fund has preliminary
commitments for the minimum raise amount, it will continue to actively seek
additional partners.
    SREC is proving to have tremendous appeal due to its focus on three areas
of the market that are experiencing high growth, specifically new commercial
office, multi family / affordable housing and mixed-use developments. The
Fund's primary geographic focus is in the Central and North Florida region, an
area in which Skyrise Development Group has extensive experience.
    In addition to current investments, SREC will continue to identify
markets and sectors that are over-performing, while at the same time
partnering with tier-one financial institutions in order to optimize debt
financing on an ongoing basis for development and permanent exit financing.
    The announcement of SREC's formation was made by David Houri, president
and CEO of Skyrise Development Group. Heading the new division is Carlos de
Miguel, CFO of Skyrise Development Group. Mr. de Miguel brings to SREC
extensive operational and transactional experience across multiple industries
throughout the United States, Latin America and Europe. He has advised both
private and public companies, as well as private equity funds, on financial
and strategic initiatives for building their businesses and increasing
shareholder value.
    Today, Skyrise Development Group's real estate properties and holdings
span the nation and consist of commercial properties, multi-use urban
complexes, industrial developments and luxury residential buildings. The
Company's scope of capabilities encompasses financing, acquisition, rezoning
and conversions, development and construction. For additional information on
Skyrise Real Estate Capital contact Carlos de Miguel at 954-712-9555.

For further information:

For further information: Carlos de Miguel of Skyrise Development Group 

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