PORTLAND, Oregon, May 18, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Sortis Holdings, Inc. (SOHI), a Portland, Oregon-based alternative investment fund manager, announces the launch of its sixth investment fund, the Sortis Distressed Opportunity Fund, which will look to capitalize on “once-in-a-cycle” real estate and business opportunities created as a result of the COVID-19 outbreak.
The Sortis team does not estimate a lengthy recession following the pandemic, but they do believe the crisis will have a deep enough impact on certain areas of the real estate market to create special situation opportunities. While the fund will remain asset class agnostic, the management team is eyeing a few particular areas within the real estate market initially.
The Sortis Distressed Opportunity Fund will look to acquire qualified distressed debt, physical real estate, and select operating businesses across the Western United States. This could include, but not limited to: failed projects, discounted performing & non-performing loans, foreclosures, bankruptcies, and other complex situations.
Building upon its existing fund family foundation, the Sortis team will continue its thematic approach into distressed opportunities, while maintaining a keen focus on capital preservation through built-in downside protection and safeguards.
Fund officers will include:
· Jef Baker: Sortis Holdings President and CEO
· Paul Brenneke: Sortis Holdings Executive Chairman
· Sam Ross: Sortis Holdings Asset Manager
”Our team and platform worked through the last recession, to successfully underwrite and sell over a billion dollars of distressed real estate loans and assets from bank balance sheets. This background added to our lending and real estate developing expertise puts us in the perfect position to bring significant value to our investors participating in the opportunities this current economic environment provides,” stated Paul Brenneke, Sortis Holdings Executive Chairman.
Sortis Distressed Opportunity Fund joins the Sortis Income Fund, the Sortis Growth Fund, the Sortis Opportunity Zone Fund, and two project specific Opportunity Zone Funds, as the company continues to build its family of funds.
For more information on Sortis’s funds, please visit https://sortis.com/funds/.
About Sortis Distressed Opportunity Fund, LLC
Sortis Distressed Opportunity Fund, LLC (the “Fund”) is a Delaware limited liability company established by Sortis Fund Manager, LLC (the “Manager”) to capitalize on the dislocation and market stress in both the real estate and business markets caused by the COVID-19 global pandemic and subsequent economic fallout. The asset class-agnostic fund will focus on distressed debt, physical real estate and operating businesses opportunities primarily across the Western United States.
About Sortis Holdings, Inc.
Sortis Holdings (OTCBB:SOHI) is an investment firm with a primary focus on real estate, both as a lender and as a direct investor. From its origins as a bank holding company, Sortis has evolved into a diversified firm that both lends and opportunistically invests in real estate, with a focus on the Western U.S. Since real estate and financial markets are constantly evolving, the firm’s ability to move between asset classes and positions in the capital stack makes it nimbler than its competitors. In 2017, Sortis merged in a loan/real estate acquisition and disposition platform and team that began in 2008 that successfully transitioned over a billion dollars in distressed real estate loans and assets. Sortis is also a developer of real estate through its affiliate companies. Operating under the principles of client focus, integrity, hard work and creativity, Sortis Holdings provides its accredited investors with well-managed, diverse asset-based investment strategies. Learn more at sortis.com.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Sortis Holdings, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Sortis Holdings’ ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Sortis Holdings’ and Sortis Income Fund’s disclosure documents and filings.
This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities. Any offer will be made only by means of an offer memorandum. This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction other than the United States.
IR Contact: Spotlight Growth SOHI@spotlightgrowth.com