Reliance Global Group to Form Real Estate Investment Trust
New REIT to Focus on Multi-Family Apartment Complexes Throughout the United States
NEW YORK, NY / ACCESSWIRE / November 27, 2018 / Reliance Global Group, Inc. (OTC PINK: RELI) (''RELI'' or the ''Company'') is pleased to announce that it is forming a Real Estate Investment Trust (''REIT''), for the purpose of acquiring, developing and owning primarily multi-family apartment complexes throughout the United States. The REIT to be formed is tentatively entitled "Edmonton Realty Trust USA."
The formation of the REIT is intended to facilitate RELI's rapid entry into the REIT sector. The REIT to be formed is intended to be owned by RELI, enabling the Company to own interests in multi-family apartment complexes located in the United States, in compliance with all applicable federal securities and tax laws.
As previously announced, RELI's focus will be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both insurance agencies and real estate projects.
RELI's CEO, Ezra Beyman, has extensive experience in acquiring, owning, operating and selling multi-family apartment complexes. Mr. Beyman is already in active discussions with owners of multi-family apartment dwellings, on behalf of RELI.
Mr. Beyman stated, ''Creating this REIT demonstrates our commitment to pursuing opportunities in the real estate sector. We intend to leverage our specialized industry knowledge, targeted investment philosophy and extensive industry relationships to expand our investment activities as we execute on our forward growth strategy.''
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SOURCE: Reliance Global Group, Inc.
