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Sortis Holdings, Inc. (OTC: SOHI) announces a definitive agreement to acquire Ace Group International for $85 million in an all-cash transaction. The deal includes 12 hotels, enhancing Sortis's portfolio to 15 properties and aiming to double its hotel footprint by 2025. This strategic acquisition is expected to close by the end of Q1 2023. Sortis focuses on amplifying unique brands through innovative hospitality, with a vision rooted in culture and community. The acquisition led by Kelly Sawdon, a key figure in Ace's success, will advance the Ace Hotel brand and support its growth as a cultural hub.
Sortis Holdings (OTC: SOHI) announced the appointment of Dusti Guzmán as their new Senior Vice President and Chief Human Resources Officer. Guzmán, a seasoned professional with 30 years of experience in the hospitality sector, aims to enhance Sortis' culture and employee engagement. He has previously held leadership roles in human resources at various renowned companies. Executive Chairman Paul Brenneke emphasized Guzmán's role in making Sortis a choice employer, aligning with the company's mission to support its brand portfolio while driving cultural growth.
Sortis Holdings (OTC: SOHI) has announced a merger between Fellow Barber and Rudy's Barbershop to enhance the barbering industry. The strategic consolidation aims to boost the workforce, streamline operations, and leverage synergy in upscale men's grooming. This merger follows Sortis's acquisition of Rudy's in 2020, with both brands poised for growth despite pandemic challenges. CEO Sam Buffa will lead the unified brands, focusing on education and expansion, including the launch of a barbering academy and new locations for both brands.
Sortis Holdings (OTC: SOHI) has announced the acquisition of WLCR, a digital creative agency focused on D2C growth. This strategic move comes after a successful partnership since 2020, aiming to enhance Sortis' digital capabilities and accelerate brand growth.
WLCR, known for its work with brands like Nike and Intel, will leverage first-party analytics to improve consumer engagement across Sortis’ portfolio. The acquisition aligns with Sortis' commitment to ESG priorities and will undoubtedly strengthen its market position.
Sortis Holdings, Inc. (OTC: SOHI) announced the resignation of independent directors Stan Morris and Gary Delorit, effective January 17, 2022. After 27 years of service, their departure aligns with Sortis's shift towards becoming a scalable platform of lifestyle brands. Executive Chairman Paul Brenneke indicated plans for new board appointments with lifestyle industry expertise to enhance the company's vision. Sortis aims to combine creative vision with business acumen across multiple sectors, including hospitality, coffee, food and beverage, and wellness.
Sortis Holdings, Inc. (OTC: SOHI) has announced key acquisitions, including Bamboo Sushi, Rudy’s Barbershops, and Current Co Brands, to enhance its platform for scalable lifestyle brands. The company's transition follows the sale of its fund management business on December 31, 2021. Sortis aims to foster growth by integrating brands with strong customer bases and commitments to sustainability. Ryan Smith has been appointed as Chief Financial Officer to guide the financial strategy during this shift. Sortis also changed its corporate domicile to Delaware, impacting share distributions.
Sortis Holdings (SOHI) announced a net annualized return of 10.54% for the Sortis Income Fund (SIF) during Q2 2021. The fund focuses on short-term notes collateralized by real estate and has maintained an average loan-to-value ratio of 62%. Highlights include the resolution of two non-performing loans and a lending pipeline that exceeds capital. The fund's recent performance, aided by its extensive networks, allows for better pricing and reduced fees.
Recent annualized returns include 10.3% for Q1 2021 and 9.5% for Q4 2020.
The Sortis Income Fund, managed by Sortis Holdings, reported a net annualized return of 10.3% for Q1 2021. The fund focuses on short-term, unleveraged mortgage loans collateralized by real estate, maintaining a low average Loan-To-Value ratio of 61%. The successful resolution of troubled loans has contributed to performance, attributed to a conservative underwriting process. The fund aims to leverage its growth to originate larger commercial bridge loans, enhancing stability and efficiency amidst reduced competition in the lending market.
Sortis Holdings, Inc. (SOHI) announced a 9.5% net annualized return for its Sortis Income Fund during Q4 2020. This unleveraged mortgage fund focuses on short-term notes secured by real estate, demonstrating resilience in a challenging market. The Fund's conservative mandate and expertise in unique transactions have bolstered its reputation, attracting continued investor confidence. With a commitment to principal protection and high yield income streams, the Sortis Income Fund remains accessible to accredited investors through major investment platforms.
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