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Presidential Realty Corporation Announces The Settlement Of All Claims Against The Company Related To Its Puerto Rico Property And Its Plan To Grow The Company In 2014 By The Acquisition Of Class B Multifamily Apartments
PR Newswire - Fri Dec 20, 5:00PM CST
Presidential Realty Corporation (OTC: PDNLB/PDNLA). Presidential Realty Corporation, a publicly traded real estate investment trust ("Presidential REIT") announced that the company settled all claims against it relating to the foreclosure and company guaranty of the Hato Rey Center property in Puerto Rico. Nickolas Jekogian, CEO stated, "The company is now ready to move ahead with its plan to grow as a multifamily REIT through the acquisition of class B multifamily apartments on a national basis using its stock and proceeds from financing activities."