The Galesi Group Real Estate team is responsible for the acquisition, financing, management, and sale of more than 30,000 residential units in Alabama, Arizona, Florida, Georgia, Indiana, Nevada, North Carolina, Tennessee and Texas over the past 16 years. Galesi entities have managed all of these multifamily assets whose value exceeded $1.1 billion dollars. On several of these projects, we completed the construction and lease up as well as major rehabilitation to improve the asset values. Our management team successfully outperformed in all markets in which these properties were located enhancing financial yields.

In December 2000, the Galesi related entities completed a $670 million joint venture acquisition consisting of a 52-property, 13,000 unit apartment portfolio concentrated in Georgia, North Carolina, Indiana and Texas. In June 1998, Galesi sold 8,000 apartment units to a publicly traded REIT for a sales price in excess of $310 million. In December 1998, Galesi acquired a portfolio of 17 complexes for a total consideration of $287 million. The Group completed the acquisition, development and sale of approximately 1,400 acres in Dallas, Texas (Valley Ranch) from 1992 to 1996, and is in the process of carrying out the development of a 1,800 acre mixed-use development in Austin, Texas (Harris Branch).

Today, Galesi partners with Westdale Sunbelt Properties Ltd. in managing nearly 12,000 residential units in the states of Arizona, Florida, Georgia, Indiana, North Carolina, Tennessee and Texas.