Press Release – For Immediate Release
PRG Investments
Pinnacle Opportunity Investments Raises and Deploys Funds for Foreclosure Homes In Louisville, KY:
Louisville, KY (October 1, 2011) Pinnacle Opportunity Investments (“POI”), an investment syndication which includes PRG Investments Principals Fred Sutterlin and Reed Weinberg, recently completed a bulk purchase of 13 foreclosure homes from a community bank in Louisville, KY. POI raised all of the necessary dollars to consummate the transaction, which did not involve any bank debt. The homes were located in several different areas of Louisville, but were all located near the City’s urban “core”. The Sponsors of the investment partnership were Weinberg, Sutterlin and Josh Lindley and Kevin Jaggers of Alltrade Service Solutions. Alltrade, a local residential property management firm, is overseeing the renovation and subsequent management of the properties. The homes required various stages of rehabilitation, and the Partnership invested approximately $50,000 in the renovation of the homes. POI intends to engage in a second round of fundraising in the first quarter of 2012. This capital will be deployed into more foreclosure homes in the local market.
Reed Weinberg
President
reed@prginvestments.com
502. 365. 3840 ext. 30
Fred Sutterlin
CEO & Chairman
fred@prginvestments.com
502. 365. 3840 ext. 26