HOLIDAY ISLAND, AR--(Marketwired - Jul 19, 2017) - Holiday Island Holdings, Inc. (
The Company has an agreement with GPL Ventures LLC -- a New York City-based investment group -- and it is in the process of completing the documents to raise up the $5M this year.
As announced in recent press releases, the proceeds will be used to acquire certain properties located in the Holiday Island Shopping Center at a discount to market value, operate them at high yield, with the option to dispose at premium market prices.
The properties to acquire consists of two (2) Medical Clinics and the adjacent Heliport and $ 2.0 million for the top 3 financially performing buildings in the center of the shopping center where consumer traffic is the heaviest.
Combined, the medical facilities have 16,000 square feet of rental space with strong long term tenants for $ 1.5 million. The annual net income of the clinics is approximately $ 150,000 (actual clinic l + projected clinic II). The acquisitions will be done in stages, starting with clinic I for $ 1.0 million. Clinic II will be acquired when the occupancy and net income is maximize expected to be late 2017, or early 2018. Clinic II is projected to generate $ 67,000 in annual net income with an ROI of 8.2 %. The heliport will be deeded to the Company at no cost on the close of the purchase of clinic II.
Acquisition of the 3 top performing buildings would give HIHI a monopoly on the local retail markets and, it will create synergy from its related services and proximity to the Medical Clinics.
The 3 buildings consist of Sunfest Market, the most popular grocery store in the area; Powell's Hardware, a very successful regional chain; and, Fred's Discount and Pharmacy, a top performing store in the regional chain.
Combined, these buildings have 51,000 SF of rental space on 3.5 acres, and they generate ~ $ 190, 000 of annual net lease income at a 9.2 % ROI.
Acquisition costs are as follows: 1) Sunfest - $1,000,000 M, 2) Fred's - $ 660,000, 3) Powell's - $ 340,000.
Gene Thompson, CEO of Holiday Island Holdings, said, "A successful acquisition of these Medical Clinics and 3 top performing buildings would immediately give the Company high yield and 100 % occupancy income producing real estate properties with $ 3.5 million in fixed assets. Plus, it would give us a monopoly on the local retail and medical/health services."
The Company's main goals for 2017 are to finalize this 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. (
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HIHI Contact : Gene Thompson CEO & Chairman Phone: (479) 244-6047 Email: sgenethompson@gmail.com Website: www.holidayislandholdings.com
