HOLIDAY ISLAND, Ark., July 25, 2017 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. (OTCPink:HIHI), a development stage company operating in the land development sector of the market, released the news today that there is an additional $200,000 acquisition in the works.
As announced in recent press releases, the Company’s strategy is 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.
In addition to the two Medical Clinics and Heliport, and the three (3) top performing commercial buildings, Holiday Island Holdings, Inc. (“HIHI”) now has the opportunity to acquire the only operating restaurant located in Holiday Island Shopping Center, Holiday Island, Arkansas.
This restaurant’s “El Mariachi” annual net rental income is $16,000 with an ROI of 8.0 %. The acquisition cost is $200,000. The plan is to close in 30 to 60 days.
In keeping with the Company’s acquisition strategy to initially purchase high yield, high occupancy commercial income producing properties located in the Holiday Island Shopping Center, starting with the El Mariachi Restaurant ($200,000), and later the Medical Clinics and Heliport ($1.5 M), and then the three (3) top performing commercial ($2.0 M).
Gene Thompson, CEO of the Company said, “This is yet another development indicating the commercial activity in the Holiday Island Shopping Center is heating up, and we have the opportunity to put a solid income producing asset on the books in very short period of time.”
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. (OTCPink:HIHI):
Holiday Island Holdings, Inc. is operating its core business in land development in a continued effort to acquire and further develop income producing commercial and residential real estate located in Holiday Island, Arkansas. The company is in the process of further developing a town poised to become the largest community between Northwest Arkansas Metroplex and Branson, Missouri, and prosper in its participation in the local retail, commercial, and residential markets.
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Source:Holiday Island Holdings, Inc.