Hoffman United and Blue Group Properties (BGP) are pleased to announce the addition of Mr. Paul E. Simon to their Development Team. Paul will serve as the Manager of Business Development and Capital Investments for the organizations.
Paul joins Hoffman and BGP with a wealth of pertinent experience having co-owned the Erie-based Simon Building Products for 28 years. Following the sale of Simon Building Products, Paul returned to his Alma Mater, Cathedral Preparatory School, to serve as its Major Gift Officer for more than 10 years. Paul Hoffman, President of Hoffman United and Manager of Blue Group Properties, notes, “Paul is a valuable addition to our diverse team of professionals. His extensive knowledge and a vast amount of industry expertise will provide a unique advantage to help grow the Blue Group Funds exponentially.”
BGP is a Private Real Estate Fund with an active focus on acquiring stabilized real estate for the long-term investment horizon. BGP focuses on acquiring assets in great locations, in a market with solid demand, and quality construction. Specifically, BGP is focused on acquiring core retail plazas with national credit tenants and shadow-anchored with major essential retailers. BGP was founded in 2019 and has already acquired an impressive 12 million of real estate assets in Pennsylvania and Ohio. Continuing on its success, BGP outperformed its projected annualized leveraged IRR with an annualized return of 15.25% for the 2020 fiscal year. Paul joins BGP with a wide range of professional relationships and decades of experience that will aid in continuing the success of BGP and propel it into the future.
As the Manager of Business Development and Capital Investments, Paul will focus on raising capital for Blue Group II, a fund in BGP that will focus on targeting commercial and multi-family real estate opportunities. Blue Group II was formed in November of 2021 with a goal to raise 10 million of equity and acquire 30 million of real estate assets across the United States.
“We are very excited to welcome Paul Simon to the team,” Hoffman notes, “He brings a local and national expertise and knowledge that will allow BGP to continue to invest in our community but also expand across the United States.”
BGP is committed to making a positive economic impact in the communities where it invests while providing a valuable return for our investors. Practicing and committing to the art of long-term investment allows BGP to a build successful business model and generate strong returns for investors while supporting the communities where we serve. Hoffman adds, “Our investors can take pride in knowing that their investment is making a positive impact and with their investment dividends can continue to reinvest in their communities through the philanthropic initiatives they feel passionate about.”
For more information about the Blue Groups, please visit thebluegroups.com.
