J.I. Kislak, Inc. Announces Intent to Expand

July 27, 2010 – Miami Lakes, FL – J.I. Kislak, Inc. (J.I. Kislak) announced today its plan to expand the Company’s footprint by acquiring multifamily properties with a focus on Ariz., Fla., Texas, and throughout the Sunbelt region of the United States.  Kislak’s long track record in this asset class combined with its strong balance sheet and capital partners positions the Organization to expand its portfolio and deploy upward of $200 million to support these efforts.

J.I. Kislak is a national investment company, primarily operating as an owner and operator of multifamily properties in Fla., Ariz., Texas, and Nev.  The organization plans to invest in existing properties, including broken condominium projects, and is interested in properties with 150 units or more. 

“Multifamily assets have eroded in value due to the current economic recession; however, in a number of markets, apartment fundamentals are slowly beginning to stabilize and we believe that now is an opportune time to increase our presence by adding to our holdings in these local regions,” said Stephen Braun, Senior Vice President of J.I. Kislak.

For more than a decade, J.I. Kislak has established a successful track record of acquiring, repositioning, and managing properties with concentration in multifamily and commercial properties.  J.I. Kislak works with a network of private and institutional investors, including private equity, hedge funds, and REITs.   

Dung Lam, Chief Financial Officer of J.I. Kislak added, “J.I. Kislak is focused on creating sustainable, long-term value.  We believe that there are attractive deals on the market, and our strong capital base enables us to be creative and close transactions quickly to achieve our investment goals.”