TORONTO, ONTARIO and FORT LAUDERDALE, FLORIDA–(Marketwire – April 4, 2012) – Delavaco Properties Inc. announced today that it has completed a private placement of common shares for aggregate proceeds of $12.25 million. The offering was co-led by Delavaco Securities Inc. and PowerOne Capital Markets Limited and was financed by Delavaco Capital, Inc. and a group of institutional investors. The proceeds from the private placement will be used by Delavaco Properties to acquire additional residential properties in South Florida and for general working capital purposes. Delavaco Properties currently holds a portfolio of 290 residential properties located in South Florida.
About Delavaco Properties Inc.
Delavaco Properties is a real estate investment firm specializing in the acquisition and subsequent leasing of distressed residential real estate in the state of Florida. Delavaco Properties was founded and is currently managed by Dallas Wharton and the principals of Delavaco Capital, a private equity firm headquartered in Fort Lauderdale, Florida with offices in Toronto, Canada and Bogota, Colombia.
Chief Executive Officer
2300 E. Las Olas Blvd.
Fort Lauderdale, FL 33301