Press Release (ePRNews.com) - New York City, NY - Oct 12, 2017 - Gorilla Capital, a leader in buying, remodeling and selling distressed houses, announced today that it has engaged Castle Placement as its exclusive placement agent to raise $150 million in equity and debt for its Houston Home Recovery Investment Platform. The new capital will be used to acquire, renovate and sell 2,500+ homes over the next 36 months in Houston, Texas area.
Houston, post-Harvey, provides a unique opportunity to execute Gorilla’s business in a large-scale, focused platform. Gorilla has a successful 11-year track record and is currently operating in 31 states, including Texas. From 2006 to 2016, Gorilla’s sales increased from $3 million to $58 million. In Houston, Gorilla’s expected average investment per home will be $200,000 (including purchase and renovation), with a nine-month average expected turn-around.
Gorilla’s proprietary software system tracks inventory of homes through acquisition, remodel, listing, sale, and closing. John Helmick, the CEO of Gorilla Capital, has significant experience and expertise in the residential real estate – finance, construction, and operations. Before founding Gorilla, Mr. Helmick was co-founder of eCollege.com which had its initial public offering in 1999 and was ultimately purchased by Pearson (NYSE: PSO), and was part of the executive team at PowerSchool, which was purchased by Apple Computer in 2001.
Founded in 2009, Castle Placement raises equity and debt capital for private early-stage and middle market companies across a broad spectrum of industries. Its highly experienced investment bankers and robust, data-driven innovative technology platform connect issuers with global institutional investors. Castle Placement has over 27,000 private equity, venture capital and strategic investors, family offices, pension funds, foundations, endowments, sovereign wealth funds, hedge funds and lenders.
Contact: Richard Luftig. (212) 418-1181. email@example.com.