ROI Land Investments Completes First Land Acquisition in the United States
17 Giugno 2015 - 2:03PM
Company to Develop 220 Acres (9,583,200 Sq.Ft)
of Land into Residential Housing
in Fast-Growing Northeastern Colorado
Montreal, Canada, June 17th, 2015
(GLOBE NEWSWIRE) -- ROI Land Investments Ltd. (OTCQB: ROII) ("ROI"
or the "Company"), a diversified real estate land development
investment company, announced today that it has made its first U.S.
investment, completing the initial acquisition of 220 acres
equivalent to 9,583,200 sq.ft of land and 763 water rights in
Evans, Colo., pursuant to its previously announced Land Purchase
Agreement on January 12, 2015. ROI intends to develop residential
housing on the property, which it acquired for $6.7
million.
"The development opportunity in Evans is consistent with ROI's
strategy to target markets that have a strong economic outlook and
a shortage of high-quality, affordable housing," said Philippe
Germain, President of ROI. "Northeastern Colorado boasts a diverse
economy, which has benefitted from strong job growth. This,
combined with low property taxes, has driven an increase in housing
prices in the area. By taking advantage of the opportunity to
acquire land at a price below its appraised value, we expect to
generate a significant return for shareholders, while delivering
sought after quality housing."
Beginning in 2016, ROI intends to develop 1,200 lots in
approximately four phases. The project may extend over a 9 year
period and will feature a mix of housing units, including single
family homes, town homes, duplexes, triplexes and condos. The
Company also plans to build a park as well as commercial and retail
areas. A new middle school will open this summer adjacent to
the property, which is expected to further fuel demand for quality
housing.
Marc Andre Levesque, COO of ROI, added, "The opportunity to develop
land in Evans offers a compelling value, with the acquisition of
water rights adding to the project's potential return on
investment. ROI is poised to create a vibrant new community in this
fast growing market as we seek to develop lots for quality housing,
which we shall be offering to local builders.
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Evans is approximately 60 miles
north of Denver in Weld County, which has a population of over
250,000. According to the Department of Labor, Weld County has seen
the strongest job growth of any county in the U.S., with nonfarm
payrolls rising 8.9 percent from June 2013 to June 2014, the last
period for which data is available. Evans and Greeley, the town
next to it, have become increasingly desirable areas to buy a home
because of the robust labor market and low vacancy rates, which are
pushing up average rents and low interest rates.
About ROI Land Investments Ltd.:
ROI Land Investments, Ltd. ("ROI") is a diversified real estate
investment company specializing in land development. ROI's business
model consists of acquiring attractive land developments free of
zoning restrictions, obtaining the necessary development permits,
outsourcing the construction of the infrastructure and profiting
from the sale of the subdivided land units to known large regional
builders.
SAFE HARBOR AND INFORMATIONAL
STATEMENT
This press release may contain forward-looking information within
the meaning of Section 21E of the Security Exchange Act of 1934, as
amended (the Exchange Act), including all statements that are not
statement of historical fact regarding the intent, belief or
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For more information, please visit our website:
http://www.roilandinvestments.com
Investor Contacts:
KCSA Strategic Communications
Jeffrey Goldberger / Brad Nelson
212-896-1249 / 212-896-1217
roi@kcsa.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ROI Land Investments LTD via Globenewswire
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