DENVER, Dec. 7, 2004 (PRIMEZONE) -- Across America Real Estate Development (Pink Sheets:AARD), a national publicly traded company that is an investor partner offering 100% financing for build-to-suit "small box" real estate projects, announced today that it has completed a Funding Agreement to provide up to $7 million in subordinated debt with GDBA Investments, LLLP. This revolving line supports AARD in obtaining up to an additional $18 million in senior debt funding for specific development projects. The term of the agreement is for three years.
Alex Lagerborg, President and CEO of AARD, said: "We are pleased that Across America Real Estate Development has successfully negotiated this funding agreement. This facility will expand our presence in the build-to-suit real estate market. The Company firmly believes that the 'small box' build-to-suit real estate developer is an underserved niche that possesses significant market potential. If the Company can redeploy its capital twice a year AARD could participate in up to $50 million in build-to-suit projects annually. Entering into this funding agreement with GDBA offers a significant growth opportunity for AARD and its developer partners."
GDBA Investments LLLP, a private investment partnership owning approximately 65% of AARD.
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.