{"id":96432,"date":"2020-12-10T00:00:00","date_gmt":"2020-12-10T00:00:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=27776422777642"},"modified":"2020-12-10T00:00:00","modified_gmt":"2020-12-10T00:00:00","slug":"sortis-holdings-results-for-the-third-quarter-2020","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2020\/12\/10\/sortis-holdings-results-for-the-third-quarter-2020\/","title":{"rendered":"SORTIS HOLDINGS RESULTS FOR THE THIRD QUARTER 2020"},"content":{"rendered":"

\"SORTIS <\/a> <\/p>\n

iCrowdNewswire <\/strong>  Dec 9, 2020  2:00 PM ET<\/span><\/p>\n

Portland, OR. December 9, 2020 \u2013 Sortis Holdings<\/a>, Inc. (OTC: SOHI), a diversified alternative investment firm, announced results for the third quarter of 2020. For the quarter ending June 30, 2020, Sortis Holdings reported total revenue of $1,968,836 and a net income of $1,161,520, or around $0.08 earnings per share.<\/p>\n

Management Commentary<\/strong><\/p>\n

Jef Baker, President and Chief Executive Officer, stated: \u201cWith the continued growth of our Funds and assets under management, we\u2019re producing repeatable increasing quarterly revenue. This, coupled with our activities in regards to distressed acquisitions in the COVID-19 environment, is pushing our returns to record highs. As our Fund yields continue to exceed market averages along with our historically strong performance, we continue to attract investors and grow our Fund management business. The outlook for Sortis remains strong.\u201d<\/p>\n

Recent Developments<\/strong><\/p>\n

In October 2020, Sortis<\/a> announced third quarter returns for the Sortis Income Fund, a real-estate debt fund, which produced a net annualized yield to investors of 10.0%*. The Sortis Income Fund is an unleveraged mortgage fund that focuses on short-term notes collateralized by real estate.<\/p>\n

During the third quarter, the Sortis Rescue Fund also completed the acquisition of Sustainable Restaurant Group (Owner of Bamboo Sushi) out of bankruptcy. This marked the second high-profile acquisition based on a significantly discounted valuation compared to the pre-COVID valuation for Sortis, following the rescue of Rudy\u2019s Barbershop in May. The acquisition resulted in an ownership stake for Sortis Holdings.<\/p>\n

\u201cWe are thrilled to bring our team\u2019s experience, ideas, and energy to the Bamboo Sushi brand,\u201d said Sortis Executive Chairman and Founder, Paul Brenneke. \u201cBamboo Sushi was built on a thoughtful approach to dining, food sourcing, and growth. It had poor timing for its rapid growth opening four restaurants in the months prior to the pandemic\u2019s initial impact, but it\u2019s the kind of company that we believe will survive and thrive in a post-pandemic world.\u201d<\/p>\n

About Sortis Holdings, Inc.<\/strong><\/p>\n

Sortis<\/a> is a leader in diversified alternative investment strategies focused on real estate, lending, distress situations and rescue opportunities. Top priorities include capital preservation and long-term economic growth primarily focused in the Western U.S. The Sortis Family of Funds includes the Sortis Income Fund<\/a>, the Sortis Opportunity Zone Fund<\/a>, the Sortis Rescue Fund<\/a>, and the Sortis Growth Fund<\/a>.<\/p>\n

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Sortis Holdings, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words \u201cmay,\u201d \u201cwould,\u201d \u201cwill,\u201d \u201cexpect,\u201d \u201cestimate,\u201d \u201ccan,\u201d \u201cbelieve,\u201d \u201cpotential\u201d and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Sortis Holdings\u2019 ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Sortis Holdings\u2019 and Sortis Income Fund\u2019s disclosure documents and filings. This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities. Any offer will be made only by means of an offer memorandum. This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction other than the United States.<\/em><\/p>\n

Contact Information: <\/h3>\n<\/p>\n

Michael Sander,
503-805-5524,
michael.sander@sortis.com <\/p>\n

\n
\"iCrowdNewswire\"<\/a> <\/div>\n

<\/p>\n

Keywords:<\/strong>    Diversified Alternative Investing, Distressed and Opportunistic Investing, Commercial Real Estate, Investment Strategies, Investor Returns, Real Estate Investing<\/span><\/p>\n

<\/p>\n

The post SORTIS HOLDINGS RESULTS FOR THE THIRD QUARTER 2020<\/a> appeared first on Financial Market Brief<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

iCrowdNewswire   Dec 9, 2020  2:00 PM ET Portland, OR. December 9, 2020 – Sortis Holdings, Inc. (OTC: SOHI), a diversified alternative investment firm, announced results for the third quarter of 2020. For the quarter ending June 30, 2020, Sortis Holdings reported total revenue of $1,968,836 and a net income of $1,161,520, or around $0.08 earnings per […]<\/p>\n

The post SORTIS HOLDINGS RESULTS FOR THE THIRD QUARTER 2020<\/a> appeared first on Financial Market Brief<\/a>.<\/p>\n

Continue Reading →<\/span><\/a><\/p>\n","protected":false},"author":249,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-96432","post","type-post","status-publish","format-standard","hentry","category-press-release"],"yoast_head":"\nSORTIS HOLDINGS RESULTS FOR THE THIRD QUARTER 2020 - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipsnews.net\/business\/2020\/12\/10\/sortis-holdings-results-for-the-third-quarter-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SORTIS HOLDINGS RESULTS FOR THE THIRD QUARTER 2020 - Business\" \/>\n<meta property=\"og:description\" content=\"iCrowdNewswire   Dec 9, 2020  2:00 PM ET Portland, OR. December 9, 2020 – Sortis Holdings, Inc. (OTC: SOHI), a diversified alternative investment firm, announced results for the third quarter of 2020. For the quarter ending June 30, 2020, Sortis Holdings reported total revenue of $1,968,836 and a net income of $1,161,520, or around $0.08 earnings per […] The post SORTIS HOLDINGS RESULTS FOR THE THIRD QUARTER 2020 appeared first on Financial Market Brief. 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