The acquisition of interests in six properties in return for shares represents the benchmark of Community Redevelopment Inc.’s initial expansion strategy for ownership / ownership of projects in the Mid Atlantic and Southeastern Atlantic. United States.
MIAMI, Sep 20, 2021 (GLOBE NEWSWIRE) – Community Redevelopment Inc. (OTC: CRDV) (“the Company”), a developer of community real estate in urban and suburban markets that focuses on all aspects of the Real Estate Development Cycle Real Estate, today announced that it has entered into a merger agreement whereby it has now acquired a portfolio of interests in six retail, multi-family and mixed-use commercial properties in the Washington, DC metro area. All properties are both partially occupied and under continuous development. Community Redevelopment Inc. pursued this off-market opportunity and leveraged its reputation as a strong and credible buyer, which includes experienced senior executives, to facilitate an expedited close.
Community Redevelopment Inc. offers the public the opportunity to participate in current trends in the real estate market by investing in these projects as a shareholder. As an owner of common stock, investors can experience significantly increased liquidity compared to directly owning blocks of real estate.
Myron Jones, Head of Development for Community Redevelopment Inc., said: “The acquisition of these six premier commercial properties underscores our core investment criteria, which consist of quality real estate and well positioned on High growth markets and demographics, anchored by strong and stable tenants. . Mr. Jones continued, “In the years to come, we believe that the acquisition and development of Class A investment assets in prime neighborhoods will generate strong returns. “
Community Redevelopment Inc. offers potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, through a publicly traded company. Our experienced development team offers a number of client-focused commercial real estate services. Our development team is experienced in the development of mixed-use city centers, apartment and condominium buildings, class A and B office spaces, neighborhood shopping malls and many other projects. Our organization’s leaders have exemplified performance in the broad spectrum of real estate products and development services in the past and have grown in the Central Atlantic, Southeast, and Gulf Coast states markets. .
Community Redevelopment Inc. plans to deliver significant value to shareholders by developing and building high quality, well-located projects at a price below market cost, for its stabilized portfolio or to sell for profit. The Company also plans to partner with other developers to build or acquire fractional interests or members in economically viable projects. Community Redevelopment Inc.’s business model creates significant market advantage while delivering long-term value to investors. Our ability to acquire and develop single and multi-family rental properties that can either be owned by us or sold to regional and national companies further strengthens our product offering. We believe that our strategy of working with federal, state and local governments, as well as with community leaders and other developers in our core geography and targeted expansion areas, will provide us with a diverse product portfolio and opportunity to increase our market share and value as we expand into the Mid Atlantic, South East and Gulf Coast markets.
Charles Arnold, President and CEO of Community Redevelopment Inc., said: “The acquisition of interests in these six properties provides Community Redevelopment Inc. with a tremendous opportunity for growth and adds significant assets (equity) to our balance sheet, while increasing our cash flow. “Mr. Arnold continued,” Our management team has extensive experience in the acquisition, development, construction and management of high quality multi-family and commercial properties on attractive markets across the Mid-Atlantic and Southeastern United States, as well as extensive experience in capital markets. We look forward to executing our business plan and bringing more projects to our shareholders and real value in land use planning, design-build, real estate ownership and site redevelopment. ”
About Community Redevelopment Inc.
Community Redevelopment Inc. offers potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, through a publicly traded company. Community Redevelopment Inc. Inc. is a full service real estate company with a management team with extensive experience in the acquisition, development, construction and management of high quality multi-family and commercial properties in attractive markets. across the Mid-Atlantic and Southeastern United States. States, as well as capital markets. The Company focuses on all aspects of the real estate development cycle, including land development, design-build, real estate operations and site redevelopment. In addition to owning our portfolio of operating properties, Community Redevelopment Inc. plans to develop and construct desirable properties on its own behalf and through joint ventures with affiliated and unaffiliated partners.
Community Redevelopment Inc., Inc. focuses on community development in urban and suburban markets and our mission is to integrate our proprietary business model by delivering sustainable, long-term value to investors as we strive to deliver opportunities to improve residential, commercial, and industrial development projects while designing communities and commercial structures that are architecturally pleasing, clean and energy efficient. For more information on Community Redevelopment Inc. Inc., please visit www.comredev.com.
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. “anticipates”, “believes”, “intends”, “plans”, “targets “,” Projects “and similar expressions. The statements contained in this press release are based on the current beliefs and expectations of the management of our company and are subject to significant risks and uncertainties. Actual results may differ from those stated in forward-looking statements. Many factors could cause or contribute to such differences, including, but not limited to, the results of clinical trials and / or other studies, the challenges inherent in new product development initiatives, the effect any competitive product, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and / or regulation, potential litigation by or against us, any government review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our last 10-Q report filed May 17e, 2021. We assume no obligation to update any forward-looking statements or information contained in this press release or other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information concerning Community Redevelopment Inc. which are tolerated by the Company must come from the Company itself and bear our name as the source.
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