Holiday Island, AR -- (ReleaseWire) -- 04/25/2017 --Holiday Island Holdings, Inc. (OTCMKTS:HIHI), a development stage company operating in the land development sector of the market, announced today that it has reached a deal in principle in its negotiations with the seller to acquire the Medical Clinics located at Holiday Island, Arkansas.
Consistent with its strategy to acquire certain properties located in the Holiday Island Shopping Center at a discount to market value and ultimately dispose at market premium prices, the Company is in negotiations with the seller to purchase its only local Medical Clinics.
The properties consists of two (2) Medical Clinics and the adjacent Heliport. Combined, the medical facilities have 16,000 square feet of rental space with strong long term tenants. The current annual gross income is approximately $ 170,000 with ROI of 8.1 %, and there is upside to the rental income and returns.
Gene Thompson, CEO of Holiday Island Holdings, said, "As we announced recently, we are first targeting commercial properties located in the Holiday Island Shopping Center with high occupancy and returns, including medical, storage, and retail facilities with strong tenants."
"A successful acquisition of these Medical Clinics would immediately give the Company high yield and occupancy income producing real estate properties. Plus, it would give us a monopoly on the local medical services."
"Further, we have verbally agreed on an acquisition price of $1.5 million with 10% down
($150,000) to tie the properties up initially with a Letter of Intent and Term Sheet while we perform our due diligence, raise the required capital, and move toward a Definitive Purchase Contract.
The Company's main goals for 2017 are to finalize a multi-million dollar fund raise and become a significant player in local commercial and residential markets at Holiday Island, Arkansas."
Holiday Island Holdings, Inc. will keep both its shareholders and public completely informed of the entire process as the details continue to develop. Please watch for regular press releases about the Company's progress.
For additional information, please visit the Company's website at www.holidayislandholdings.com.
About Holiday Island Holdings, Inc. (OTCMKTS:HIHI)
Holiday Island Holdings, Inc. is operating its core business in land development in a continued effort to acquire and further develop income producing commercial and residential real estate located in Holiday Island, Arkansas. The company is in the process of further developing a town poised to become the largest community between Northwest Arkansas Metroplex and Branson, Missouri, and prosper in its participation in the local retail, commercial, and residential markets.
Forward-Looking Statements Disclaimer:
This press release contains 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. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
Gene Thompson, CEO& Chairman
Source: UPTICK Newswire