Cal-Bay Receives $3M Funding Approval
(firmenpresse) - LAS VEGAS, NV -- (Marketwire) -- 01/09/12 -- (PINKSHEETS: CBYI)
A company spokesperson stated, "Cal-Bay has been negotiating the loan terms for some time with the European based group and received approval for the funding late last week. The loan has a 3 year term and is to be secured by Preferred shares and joint deed registration upon acquisition of the properties. Loan repayment is 3 years from the date of origination and the interest payable is in the form of an equity appreciation share along with a shared percentage of net revenues from rental income for each property term. The investment group is willing to consider additional funding for similar projects upon satisfactory completion of the initial portfolio."
The availability of the funds are immediate at closing and are for use specifically for real estate acquisitions and can only be accessed for the closing of the properties in escrow and are not available for use in the company's day to day operations and costs.
Cal-Bay expects to be able to purchase a portfolio of 25-30 undervalued bank owned properties in the Southwest region for designated rental income over the 3 year period. Cal-Bay intends to create a company controlled property management and maintenance division to oversee and maintain Cal-Bay's real estate portfolio.
This major addition to the company's assets and residual revenue stream is expected to accelerate the completion of the company's "Alternative Fuel & Energy" divisions.
:
Formerly a Residential & Commercial Real-Estate acquisition and development company, Cal-Bay now plans to continue the acquisition of distressed and undervalued residential and commercial real estate along with land acquisitions. The land acquisitions being primarily for use by its own subsidiary companies for the production of "Clean Energy & Power" creating a multi-level revenue center for the company and its Investors. More Information will be available on the company website currently operational and under ongoing development.
Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as CBYI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 09.01.2012 - 09:00 Uhr
Sprache: Deutsch
News-ID 1070996
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
LAS VEGAS, NV
Phone:
Kategorie:
Residential Real Estate
Anmerkungen:
Diese Pressemitteilung wurde bisher 137 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Cal-Bay Receives $3M Funding Approval
"
steht unter der journalistisch-redaktionellen Verantwortung von
Cal-Bay (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
