MONTREAL, June 17, 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.
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 current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not a guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements, as a result of various factors including the risk disclosed in the company's statements and reports filed with the OTC Markets. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements. Persons who are interested may see the latest company filings at
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
HUG#1929039