DENVER, Feb. 24, 2005 (PRIMEZONE) -- Across America Real Estate Development (Pink Sheets:AARD), a national publicly traded company that is an investor partner offering 100% financing as well as equity for "small box" real estate projects, announced today the closing of the land for a proposed express tunnel carwash site. Other terms of the project have yet to be finalized. This site was purchased in the name of AARD-Belle Creek LLC, a wholly-owned subsidiary of the Company. The 1.09 acres is located in the Belle Creek subdivision on the northwest corner of 104th and US Highway 85 in Commerce City, CO. When completed the estimated cost of the project will be $1,830,000.
Alex Lagerborg, President and CEO of AARD, said "Across America Real Estate Development is excited to act as the financial partner on this carwash site. We believe that the property has a premier location with traffic of over 40,000 cars per day and growth of residential development around the site. Also, we view Highway 85 is the primary commuter route from Brighton to Denver and 104th connects Thornton to DIA. We are very glad to be involved in this project."
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 303-893-1003. The company assumes no obligation to update the information in this press release.