Renascence Equity Ventures A Veteran And Minority Led Company Sets $400M Private Equity Offering To Expand Its Mixed-use Hotel & Residential Retail Real Estate Acquisitions And Development Portfolio
NEW YORK, December 6, 2021 / PRNewswire / – Renascence Equity Ventures Corporation has advanced its first-round plans to build a national owner and operator of a commercial real estate and entertainment technology company $ 400 million Private placement offer. The financing round of the private IPO is expected to go on the market in the week of December 15, 2021 for accredited and institutional investors and is expected to be in April 2022.
The company already has its first mixed-use hotel and residential retail properties in. targeted new York and in three other states for acquisition and is also exploring other commercial real estate development opportunities through public and private partnerships for much-needed affordable housing and communal cultural spaces.
Renascence has reached preliminary agreements to purchase the first three mixed-use properties, which are scheduled to close in early 2022. The company is in various phases of negotiations for three other major development sites, including New York City, The angel, and Atlanta that will include new hotels, affordable housing, retail and entertainment options.
“The firm’s ownership began with a small group of apartment buildings that has grown and is now expanding its real estate portfolio with an all-star development team and operational management partners who have owned and operated large office buildings and commercial property hotels.” , Residential housing, retail and high-rise development projects, “says David Gray, Corporate communications.
Renascence Equity Ventures is also in the process of completing its architectural design phases for a high-rise building in Manhattan, NYC. The joint venture development will include the Hip Hop Hall of Fame (501c3), a hotel, office, residential, retail and entertainment complex with a cultural arts and technology education center on the planned 1.4M 8-square-foot building slated to open in Midtown Manhattan next to the Empire State Building in 2024/2025, Madison Square Garden and Penn Station as part of the new infrastructure and transportation economic revitalization plans recently unveiled. In the meantime, the HHHOF is opening a Hip Hop Café™ & Interactive gallery in Harlem in 2022 as it prepares to bring back its flagship TV show, Induction Ceremony & Concert, to the Hip Hop Hall of Fame Awards in 2022, as seen on BET during the Talks and during the 1990s Negotiations with major producers and television networks continue.
The company will leverage the new round of equity financing to grow its commercial real estate portfolio, operations, staff, partnerships, marketing and technical capabilities to scale its businesses with quantifiable value propositions and proven industry growth strategies.
Renascence plans to operate its brand as a contemporary and technology-enabled value creative portfolio of companies with unique real estate and is committed to expanding through such real estate acquisitions and development projects, entertainment and technology real estate, as well as promoting and training exceptional management teams and employees who can be compiled from all areas.
The offer, which is carried out on a best effort basis, and the first round are based on a maximum gross proceeds of up to. estimated $ 400 million in shares will be announced as one of the scheduled four rounds of its round $ 3 billion Capitalization and expansion plan. Further details on the offer and its submissions will be published in the coming weeks.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such offer or solicitation is not permitted, and does not constitute an offer within any jurisdiction to any person to whom a such offer would be unlawful.
SOURCE Renascence Equity Ventures Corp
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