Holiday Island, AR -- (ReleaseWire) -- 07/19/2017 --Holiday Island Holdings, Inc. (OTCMKTS:HIHI), a development stage company operating in the land development sector of the market, released the news today that it has a Reg A+ unregistered offering in the works with a New York-based investment firm.
The Company has an agreement with GPL Ventures LLC – a New York City-based investment group – and it is in the process of completing the documents to raise up the $ 5 M this year.
As announced in recent press releases, the proceeds will be used to acquire certain properties located in the Holiday Island Shopping Center at a discount to market value, operate them at high yield, with the option to dispose at premium market prices.
The properties to acquire consists of two (2) Medical Clinics and the adjacent Heliport and $2.0 million for the top 3 financially performing buildings in the center of the shopping center where consumer traffic is the heaviest.
Combined, the medical facilities have 16,000 square feet of rental space with strong long term tenants for $1.5 million. The annual net income of the clinics is approximately $150,000 (actual clinic l+ projected clinic II). The acquisitions will be done in stages, starting with clinic I for $1.0 million. Clinic II will be acquired when the occupancy and net income is maximize expected to be late 2017, or early 2018. Clinic II is projected to generate $ 67,000 in annual net income with an ROI of 8.2%. The heliport will be deeded to the Company at no cost on the close of the purchase of clinic II.
Acquisition of the 3 top performing buildings would give HIHI a monopoly on the local retail markets and, it will create synergy from its related services and proximity to the Medical Clinics.
The 3 buildings consist of Sunfest Market – the most popular grocery store in the area – Powell's Hardware – a very successful regional chain – and, Fred's Discount and Pharmacy – a top performing store in the regional chain.
Combined, these buildings have 51,000 SF of rental space on 3.5 acres, and they generate $190,000 of annual net lease income at a 9.2% ROI.
Acquisition costs are as follows: 1) Sunfest - $1,000,000 M, 2) Fred's - $660,000, 3) Powell's –$340,000.
Gene Thompson, CEO of Holiday Island Holdings, said, " A successful acquisition of these Medical Clinics and 3 top performing buildings would immediately give the Company high yield and 100 % occupancy income producing real estate properties with $ 3.5 million in fixed assets. Plus, it would give us a monopoly on the local retail and medical/health services."
The Company's main goals for 2017 are to finalize this 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.
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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