HOLIDAY ISLAND, AR--(Marketwired - Apr 25, 2017) - Holiday Island Holdings, Inc. (
Consistent with its strategy to acquire certain properties located in the Holiday Island Shopping Center at a discount to market value and ultimately dispose at market premium prices, the Company is in negotiations with the seller to purchase its only local Medical Clinics.
The properties consist of two (2) Medical Clinics and the adjacent Heliport. Combined, the medical facilities have 16,000 square feet of rental space with strong long term tenants. The current annual gross income is approximately $170,000 with ROI of 8.1%, and there is upside to the rental income and returns.
Gene Thompson, CEO of Holiday Island Holdings, said, "As we announced recently, we are first targeting commercial properties located in the Holiday Island Shopping Center with high occupancy and returns, including medical, storage, and retail facilities with strong tenants.
"A successful acquisition of these Medical Clinics would immediately give the Company high yield and occupancy income producing real estate properties. Plus, it would give us a monopoly on the local medical services.
"Further, we have verbally agreed on an acquisition price of $1.5 million with 10% down ($150,000) to tie the properties up initially with a Letter of Intent and Term Sheet while we perform our due diligence, raise the required capital, and move toward a Definitive Purchase Contract.
"The Company's main goals for 2017 are to finalize a multi-million dollar fund raise and become a significant player in local commercial and residential markets at Holiday Island, Arkansas."
Holiday Island Holdings, Inc. will keep both its shareholders and public completely informed of the entire process as the details continue to develop. Please watch for regular press releases about the Company's progress. For additional information, please visit the Company's website at www.holidayislandholdings.com.
About Holiday Island Holdings, Inc. (
Holiday Island Holdings, Inc. is operating its core business in land development in a continued effort to acquire and further develop income producing commercial and residential real estate located in Holiday Island, Arkansas. The company is in the process of further developing a town poised to become the largest community between Northwest Arkansas Metroplex and Branson, Missouri, and prosper in its participation in the local retail, commercial, and residential markets.
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