Company Overview
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Urban Logistic Advisory Services Inc. is a Texas State corporation investment vehicle and an associate company to Continental Advisory Services , LLC, a family office. While CAS was incorporated in NYC in 2002, ULAS was incorporated in NYC in 2016 and later in Texas in 2021. The purpose of ULAS is to pool non-overlapping, yet complementary integrated offerings in Aeronautics, engineered Energy products for the Li-ion mobile power energy sector, Gallium Nitride power electronics provider, professional mechanical and electrical engineering services , a data center operator and IT services firm (NYI), and Conscious Content Media, Inc. d/b/a BEGIN. The ULAS strategy allows an integrated engineering value chain strategy and an opportunity to right-size the combined balance sheets, improve WACC and create a measured growth strategy. The combined ULAS entities have a proforma adjusted 2023 EBITDA of USD 22.1 Million over USD 169.3 Million in Revenues.
FEATURED COMPANY AND PROJECT DETAILS
Details
Urban Logistics Advisory Services (ULAS) has onboarded The Latigo Reno LLC and is finalizing an allocation of USD 125 Million (representing 42% LTV) for the construction financing of The Highland Avenue Work Force Housing (“The Property”). This project, situated in Downtown Reno near the University of Nevada, Reno campus, is set to become an approximately 900-bed community-benefit live-work housing building. Site preparation for The Highland is currently in progress. Significantly, this financing arrangement is cross collateralized with ULAS's assets.
The essence of this project lies in its strategic approach to housing. By leveraging the modular construction prowess of Advanced Building Systems (ABS), the project promises not just timeliness but also impeccable quality standards. Modular construction, a revolutionary shift in the construction domain, ensures that large-scale projects like The Highland are efficiently executed while upholding the highest construction standards.
Downtown Reno Districts
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Project Timeline Overview
The development site has initiated the entitlement process, with plan revisions and reviews spanning September to December 2023. By the end of that period, both site and building permits are set to be issued. Key construction phases, from grading to infrastructure setup, are meticulously planned, kicking off in January 2024. The comprehensive construction phase will span approximately months, culminating around mid-2025. Concurrently, marketing efforts in the form of leasing are expected to commence as early as June 2024. The aim is to start renting the housing by August 2025, optimally positioning the property for the University 2025-26 academic year. With stabilization achieved post the occupancy, refinancing options for the senior loan will be explored, and sponsors are gearing up for a potential sale of the property by 2030.
