Green Acquisition Corporation Acquires Holcong Holdings Bucks County Properties
PHILADELPHIA - January 9, 2021 - ( Newswire.com )
Green Acquisition Corporation, (GAC), successfully completed the assemblage and acquisition of five of the Singapore based Holcong Holdings commercial real estate assets in Bucks, and Montgomery Counties. And two Somerset County New Jersey properties.
John C. Green, Chairman and CEO of Green Family Corporate Holdings, LLP who shall remain seated at the helm. Indicated that the company’s latest acquisition was advantageous on several fronts. But primarily based on the discounted price of the assets and Holcong’s decision to expeditiously exit the east coast to focus on its west coast investments.
Green estimates the transaction which completed in December 2020, retains 7 current employees, and creates approximately 15-18 local jobs, between property management and maintenance personnel.
“We look forward to the prospect of a brand new, year and a return to profitability in the commercial real estate sector said Green. Bucks County has been a prosperous market in many of its boroughs. Much of which has been driven by the COVID exodus from larger metropolitan areas into the burbs. I commend the planning commissioners of both Bucks and Montgomery Counties, whom have been years ahead of schedule.” Commented Green.
Green Acquisition Corporation is a privately held private equity and real estate & commercial capital firm. Managed by Green Family Corporate Holdings, LLP Headquartered in Charleston, South Carolina. The company portfolio has diversified real estate holdings in the Mid-Atlantic, Southeast, Florida and South-Central United States.
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