FAR HILLS, N.J., May 02, 2017 (GLOBE NEWSWIRE) -- Mango Capital, Inc. (OTC:MCAP) announces the acquisition of an ownership stake in Pretty Pond Investors LLC. Consideration for the purchase consists exclusively of MCAP shares. The investment is expected to yield a positive future income stream.
Pretty Pond Investors LLC is set to build an apartment complex in Zephyrhills, Florida. Zoning has been approved and 168 units are expected to be built on the ten acres. CBD Real Estate Investment LLC is the managing member of Pretty Pond Investors LLC.
David Waronker, President of CBD Real Estate Investment LLC, stated, “Nationally there has been an insatiable demand for quality rental housing and Pretty Pond promises to bring much needed luxury and affordable housing to the northern Tampa market.” He continued by saying, “With strong investors such as Mango Capital partnering with our project, we expect Pretty Pond to be solidly funded and will be a highly desired asset in the east Pasco County housing market.”
“This transaction continues our business plan of growing via acquisition of real property using restricted shares in Mango as currency. We have some additional interesting opportunities in the pipeline as well, and are aggressively seeking more purchases to grow our balance sheet and to take Mango mainstream,” stated Mango President Rick Makoujy.
About Mango Capital, Inc.
Mango Capital Inc. is a real estate holding company specializing in acquiring undervalued American land and complimentary operating businesses in promising markets. MCAP recently completed the acquisition of more than 500 real estate properties in Colorado, Arizona, Texas, Arkansas and New Mexico. With a motivated team, Mango will seize the opportunity to efficiently grow Mango into a major domestic land owner. Mango plans to acquire promising real property efficiently utilizing company shares as currency and intends to opportunistically sell properties for cash and/or notes.
For additional information about Mango, contact Jacqueline Palumbo, Communications Director, Mango Capital, Inc., at (845) 270-5792 or Rick@MangoCapitalInc.com.
Please visit our website http://mangocapitalinc.com/
This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. The matters discussed in this news release involve goals, forecasts, assumptions, risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements.
Source:Mango Capital, Inc.