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Posted On: 01/04/2021 6:25:51 AM
Post# of 42590
$HIHI through its real estate advisor - continues to make progress on its targeted RV park located in north Texas. The purchase arrangement is in its contracting phase, and due diligence continues.
A funding source in Houston has verbally offered to fund the planned transaction, and then lease the property to HIHI for operational purposes. At this time we anticipate - due to Covid-19 concerns and U.S. election issues - that a planned closing of this purchase may not occur until the first quarter of 2021.
Additionally, our advisor has identified several other prospective acquisitions for the Company to consider, and it is conducting preliminary due diligence on each of them. We hope to report positive progress within the next several weeks."
S. Gene Thompson - the Company's CEO - said: "We continue to make significant progress on this acquisition now moving into the expected final financing and closing phase. We will keep you advised or our progress."
A funding source in Houston has verbally offered to fund the planned transaction, and then lease the property to HIHI for operational purposes. At this time we anticipate - due to Covid-19 concerns and U.S. election issues - that a planned closing of this purchase may not occur until the first quarter of 2021.
Additionally, our advisor has identified several other prospective acquisitions for the Company to consider, and it is conducting preliminary due diligence on each of them. We hope to report positive progress within the next several weeks."
S. Gene Thompson - the Company's CEO - said: "We continue to make significant progress on this acquisition now moving into the expected final financing and closing phase. We will keep you advised or our progress."
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