DL Holdings (1709.HK) announced a non-binding MOU with Carmel Reserve LLC to acquire shares for US$5 million consideration, subject to final valuation. The preliminary post-money valuation places Carmel Reserve LLC at US$35 million.
Carmel Reserve LLC owns 891 acres in Carmel Valley, San Francisco Bay Area, where the ONE Carmel Development will create a premier community with 73 ultra-high-end residential lots.
Despite COVID-19 impacts, high-end Bay Area properties have seen increased transactions as tech billionaires and wealthy families pursue premium land. As a multi-family office serving ultra-high-net-worth clients for nearly 10 years, DL Holdings aims to leverage growing Asian demand for global real estate investments. This acquisition marks the firm's strategic expansion into US real estate, positioning it to benefit from long-term asset appreciation.
T : +852 3890 2900
E : info@dl-holdings.com
Headquarter: DL Tower, 92 Wellington Street, Central, Hong Kong
