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The REvision Group joins forces with Banyan Investment Group to help raise $25M in their first GP Fund

ATLANTA, December 8, 2021 — Banyan Investment Group (BIG), an Inc. 5000-recognized, vertically integrated hotel investment company that acquires select-service hotels in the United States, today announced the $20 million first closing of Banyan Lodging Enhanced Value Fund, LLC, a fund vehicle that offers investors an opportunity to purchase hotels that have been impacted by the on-going COVID-19 crisis. Soft circles from prospective investors suggest that BLEV will reach its $35 million hard cap early next year, well before the formal end of its offering period.

“The hospitality industry continues to reel from the COVID pandemic and its uneven recovery, and many markets continue to suffer from a sustained, record decline in hotel performance, a lack of liquidity in the capital markets and value dislocation,” said Andy Chopra, managing partner & CIO, Banyan Investment Group. “We believe the impact caused by the pandemic has created a number of investment opportunities, ranging from newer assets selling at below replacement costs to discounts resulting from owners facing liquidity crises. BLEV will take advantage of these prevailing headwinds as we move further into a post-pandemic world.”

BLEV has been structured to provide a superior return profile to investors versus a typical co-mingled fund. The fund purposefully was created as a revolver, creating the ability to move and purchase quickly and backfill with external capital post-closing.

The fund will be used to form joint venture partnerships with institutional investors and/or syndicates of retail investors, implying total investible equity in the range of $350,000,000. BLEV will focus on high-barrier-to-entry hotel locations, targeting properties with significant discounts to replacement costs and/or historical sale prices. As the hospitality industry restabilizes, hotel sales prices are expected to rebound, as well, providing superior, risk-adjusted returns for investors.

BLEV will pursue well-respected branded and independent hotels mainly in primary and secondary markets with multiple business and leisure demand generators. Targeted hotels will be highly transient-demand-oriented and range from 100-350 rooms. The fund allows for both individual property and portfolio acquisitions. BLEV will serve as a general partner alongside institutional investors to acquire a collection of hotels—likely a dozen select-service, extended-stay, lifestyle, or compact full-service hotels, segments which have clearly emerged as resilient performers in the post-pandemic environment.

“Having weathered multiple hospitality cycles, we have firsthand knowledge and experience of acquiring, owning, and operating hotels through all phases of downturn and recovery,” said Rakesh Chauhan, managing partner, and CEO, Banyan Investment Group. “The velocity of this first raise was much stronger than we initially expected and has put us ahead of our own scheduling. We are confident that the time to capitalize is upon us, and we are looking for savvy investors to help take advantage of the situation.”

The REvision Group and Tauro Capital Advisor agree to partner up on opportunities

This podcast features the CEO’s of The REvision Group, Michael Friedman, and Tauro Capital Advisors, Stephen Stein. Interviewed in this 48-minute podcast discussing their companies and why they have decided to create a partnership

The synergies they discuss, which include common business practices, philosophy, and the ability together to offer both debt and equity

Rare Brilliance and Charisma W/ Mike Friedman & Dean Adler – Coach Cimoroni’s Undeniable Podcast

Friedman details this incredible life and journey with us on the podcast as well as in his new book “My Bible of Blunders” in which he shares with us the good and not so good in business. This candid and thoughtful conversation with Coach Cimoroni will enlighten and entertain you altogether.

Michael’s interview with Winning Mindset Solutions

Founded in 2011 by brothers Gene and Jeff Zannetti, Winning Mindset Solutions has worked with thousands of professionals, organizations, coaches, and athletes around the world. With our focus on mindset development as a foundation to realizing one’s full potential, our team of 75+ Mindset Coaches has worked with Executives and Staff of Fortune 500 Companies, School Districts, Non-Profits, and hundreds of Colleges & Universities.

The REvision Group to provide up to $100 million in short-term funding to real estate, hospitality companies affected by COVID-19

The REvision Group will provide $100 million or more in short-term funding to real estate developers and owners of hospitality assets around the country in an effort to keep their businesses afloat in the aftermath of the coronavirus pandemic.  The funds, which will come from two private equity firms, will be used as a Preferred equity investment and may provide the only alternative to infuse capital into small businesses that have been overlooked during the pandemic.

According to Michael Friedman, The REvision Group’s CEO and Founder, attempts by the federal government to provide relief to small businesses haven’t been effective.  “Our mission is to help fill the gap for formerly profitable small businesses including hotels that, through no fault of their own, have struggled mightily in the wake of coronavirus,” said Friedman. “The hard work and effort that went into building these businesses is the very foundation of the American Dream.  We are here to help protect that dream for these dedicated entrepreneurs.”

Friedman noted that The REvision Group is nimble and flexible, and because of that flexibility, the company can pivot from its day-to-day equity sourcing and focus on providing funds to existing small businesses who desperately need assistance.  The REvision Group is focusing its financing recovery efforts on the hospitality and commercial real estate sectors.

The criteria for obtaining financing through The REvision Group is simple.  The company is focusing on three key metrics when determining which businesses will receive funding; current equity, current debt, and 12 months of net operating income.  The goal with these funds is to provide new equity in a time when debt and existing equity from the current sponsors and their capital sources are scarce.

The REvision Group partners with Pepper Pike Capital to arrange more than $100 million in financing for a 997-unit apartment complex in Indianapolis.

In the midst of a global pandemic that has paralyzed credit markets, Cleveland-based real estate advisory company The REvision Group partnered with Pepper Pike Capital, to raise $35 million as part of a $127 million capital stack to complete financing for the 997-unit Riverbend apartment complex in Indianapolis. The capital stack included $84.5 million in debt, $22 million in preferred equity, and $13 million in common equity.

According to Michael J. Friedman, President, and CEO of The REvision Group, the financing deal was completed over a four-month period and proved that quality projects can find funding in spite of challenging circumstances. “We have arranged to finance for a number of projects and developments that were quite complicated over the years but none in such a challenging environment as what we experienced during the COVID-19 pandemic,” said Friedman. “This financing project is the culmination of a lot of hard work but also is a testament to quality development being reimagined by Pepper Pike Capital.” Friedman and his team at The REvision Group worked with several family offices and private investors ) to complete the financing.

The REvision Group was founded in 2010 to create a solution for sourcing equity for “best-in class” sponsors.  The company has offices in Cleveland, Ohio, and Greenwich, Connecticut.

Check out Mike on the Blood Time podcast!

Michael Friedman has successfully made the transition from excellent Basketball coach (at all levels) to very successful entrepreneur and deal maker. From coaching Beachwood High to numerous University positions, to clinics with Magic Johnson and many other stellar stars of the sport Michael has taken those attributes into the Business World. Michael has created some of the largest acquisitions in Ohio as well as assisted many in capital raises for numerous real estate and commercial opportunities.

Friedman details this incredible life and journey with us on the podcast as well as in his new book “My Bible of Blunders” in which he shares with us the good and not so good in business. This candid and thoughtful conversation with Coach Cimoroni will enlighten and entertain you altogether.

Watch Mike’s Keynote speech at Millennia Companies

Mike Friedman was featured as the Keynote Speaker at The Millennia Companies 2017 Annual Conference. As president of Millennia Housing Capital, Mike helped put together and brokered a deal for Millennia to purchase the largest building in Cleveland, Key Tower Center.

Mike enthusiastically shares his story with conference attendees, starting with professionals sports and business, and provides valuable advice on how to balance on career and life goals.

Acquisition of KEY TOWER CENTER, Cleveland, Ohio

Recently, Michael helped put together and brokered a deal for Millennia to purchase the largest building in Cleveland, (KEY TOWER CENTER). This iconic structure is the largest office building between New York and Chicago. Michael is currently finalizing the capital raise which include $265 million in debt, and $80 million in equity. Michael worked with Eastdil, the brokerage from Chicago and the Seller, Columbia REIT from Atlanta.

The REvision Group, under Michaels’s leadership, will continue deal sourcing, connecting, and closing. The strength of our company is that we source not only capital for Joint ventures for developers and businesses, but we help find a safe and profitable place for the the capital companies to invest in.

Key Tower Center

Mike’s New book is out NOW!

After forty years in professional sport and business, Michael Friedman sits down to describe the harrowing career path that he — a self-described “ordinary guy”– pursued, stumbled on, raced along, departed from, triumphed through and is still following with undiminished enthusiasm.

After forty years in professional sport and business, Michael Friedman sits down to describe the harrowing career path that he — a self-described “ordinary guy”– pursued, stumbled on, raced along, departed from, triumphed through, and is still following with undiminished enthusiasm.

This is no “how to” book, as Friedman admits, nor a “how not to” book. It’s simply what happened, but recounted with enough honesty that we can laugh and learn as we try to keep up with Mike’s busy but meandering path.

Crain’s Cleveland Business “Go West, Friedman!”

While a lot of Ohioans were waiting for drilling to take off in the Utica shale, Beachwood resident Michael Friedman already was cashing in on the new boom in high-volume, slick-water, horizontal drilling, and hydraulic fracturing, or fracking, as it’s commonly known.

He just had to go to North Dakota to do it.

Friedman has been working the big Bakken shale play in the Dakotas, and he said he’s finding more opportunities as he expands the scope of his activities. While Friedman originally focused on building and renting out housing for oilfield workers, he’s now also brokering deals and arranging to finance for other developers in the region.

MIAMI, January 30, 2018 (Newswire.com)

Statler Arms Apartments is a historically renovated former Statler Hotel high-rise in the Theater District on East 12th Street and Euclid in downtown Cleveland that was converted into 295 apartments in 2001. Millennia Companies closed on the building this past Tuesday with plans on renovating and redeveloping the tired asset into a higher-end property, geared towards the ever-expanding market of Millennials flocking to downtown Cleveland along with 30-40+ age professionals.  Berkadia underwrote the debt while GenX Capital Partners secured the equity for the “all in” $53MM transaction.

“No question, it’s still a heavy lift if you will, procuring equity financing for downtown Cleveland projects, but we have access to equity partners not many developers are aware of and sort of fly under the radar, not to mention Millennia and its CEO Frank Sinito are A+, high-quality sponsors, so that was helpful. Combining that with the incredible teamwork from Mike Friedman of Millennia Capital we were able to pull together the needed equity with one of our funds to get this massive deal to the closing table.”

The Statler Arms

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