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Reliance Global Group, Inc. Announces Purchase and Sale Agreement to Acquire Contiguous Multi-Family Property and Provides Corporate Update

LAKEWOOD, NJ, Oct. 29, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company") , today announced that Reliance Global Holdings LLC ("Reliance LLC"), RELI's affiliated privately-owned LLC, has signed a Letter of Intent (LOI) to acquire a multi-family property for a purchase price of $15.2 million. The property consists of 176 apartment units, built in the late 1990s, located in a strong market in the central region of the US. The property currently has a high 95% occupancy rate. Upon completion of the acquisition, RELI anticipates completing an SEC-compliant audit of this multi-family property, to enable it to become an important component of the assets and business of RELI when the Comp...
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Reliance Global Group, Inc. Announces Purchase and Sale Agreement to Acquire Contiguous Class A Multi-Family Properties

LAKEWOOD, N.J., Oct. 02, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company") , today announced Reliance Global Holdings LLC, ("Reliance LLC"), RELI's affiliated privately-owned LLC, has executed the purchase and sale agreement to acquire two contiguous Class A multi-family properties for a total purchase price of $42.5 million, following the signing of the letter of intent, as previously announced on August 19, 2019. The properties consist of approximately 260 apartment units located in a strong market on the East Coast. The first phase of construction, which consists of 117 units, was completed in 2017, and is 97% occupied. The second phase of construction, consisting of 143 apartm...
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111 Hits

Reliance Global Group, Inc. Acquires Altruis Benefit Consulting and Completes Transfer of Southwestern Montana Insurance Center and Fortman Insurance Agency From Affiliated Entity

Lakewood, NJ, Sept. 10, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company"), is pleased to announce that it has completed the acquisition of Altruis Benefit Consulting. The acquisition follows a letter of intent between the parties as previously announced on May 8, 2019. Headquartered in Bingham Farms, Michigan, Altruis serves customers throughout the entire State of Michigan, specializing in providing individual and group health insurance. Altruis generated revenue of approximately $2.5 million in 2018. The transaction was completed through a combination of $1.4 million of cash, provided by Reliance Global Holdings, LLC, a Company controlled by Ezra Beyman, CEO of RELI, as well as ...
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Reliance Global Group, Inc. Announces LOI to Acquire Class A Multi-Family Property

LAKEWOOD, N.J. , Aug. 19, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("Reliance," "RELI" or the "Company") , today announced it has signed a Letter of Intent (LOI) to acquire a Class A multi-family property for a purchase price of $42.5 million . The property consists of approximately 260 apartment units. The first phase of construction, completed in 2017, is 97% occupied. The second phase of construction is expected to be completed in 2020, and all of the completed units have been pre-leased, subject only to total completion of construction. The Company also announced that its affiliated privately-owned entity, Reliance Global Holdings, LLC, has transferred $250,000 to RELI, which is to be used as the initial down payment...
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