DENVER, Oct. 7, 2004 (PRIMEZONE) -- Across America Real Estate Development (Pink Sheets:AARD), a national publicly traded company that is a developer partner focusing on 100% financing of build to suit real estate projects and also provides financing for those transactions where a bank requires developer equity, announced today that it has entered into an arrangement with S&O Development, LLC, a builder and developer of commercial property. AARD and S&O intend to develop an express tunnel carwash located in Littleton Colorado with an approximate cost of $1,850,000. AARD expects to start funding this project immediately.
Alex Lagerborg, President and CEO of AARD, said, "Across America Real Estate Development continues to expand it presence in the build-to-suit real estate market. The Company believes that the small pad built-to-suit real estate developer is an underserved niche that possesses significant market potential. Entering into this business relationship with S&O Development offers a winning combination for both companies."
Aaron Green, Commercial Development Manager for Colorado for S&O, stated, "Our team at S&O is delighted to partner with Across America Real Estate Development on this project. Because AARD provides 100% of our project financing, as well as a unique deal structure we believe that AARD could allow us to develop more projects this year as well as in the upcoming year."
About Across America Real Estate Development
Across America Real Estate Development is a national, publicly traded company that is an investor partner focusing on 100% financing of build to suit projects and also seeking to be the low cost provider of financing for those transactions where a bank requires developer equity.
Forward-Looking Statements. All statements contained in this press release that are not statements of historical fact constitute "Forward-Looking Statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from historical results or from any future results expressed or implied by such forward-looking statements. Readers are urged to consider statements that include the terms "believe," "belief," "expects," "plans," "anticipates," "intends" or the like to be uncertain and forward-looking. Forward-looking statements also include projections of financial performance, statements regarding management's plans and objectives and statements concerning any assumptions relating to the foregoing.
Additional information can be found at the Company's web site at www.aard.us. Copies may also be obtained by contacting Across America's offices at 303-468-3974. The company assumes no obligation to update the information in this press release.