Cal-Bay in Negotiations for Additional 30 Home Portfolio in Las Vegas, Nevada
Wednesday December 27, 9:01 am ET
CARLSBAD, Calif.--(BUSINESS WIRE)--Cal-Bay International, Inc. (OTCBB:CBAY - News) announces the company today opened negotiations for the acquisition of an additional 30 home portfolio in Las Vegas, Nevada.
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Cal-Bay\'s Board of Directors today announced the company entered negotiations for the acquisition of an additional 30 single family home portfolio in Las Vegas, Nevada.
Upon successful completion, the acquisition will add approximately $13M to Cal-Bay\'s rapidly growing Las Vegas property portfolio, and will additionally generate in the region of $500,000 per year in rental revenues.
The pending acquisition would increase Cal-Bay\'s Las Vegas residential property portfolio to over 85 Homes, and would generate approximately $1.53M per year in revenues.
Cal-Bay is currently in negotiations for several other Residential and Commercial development properties in the Las Vegas area.
FORWARD-LOOKING SAFE HARBOR STATEMENT: To the extent that this release discusses any expectations concerning Future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management\'s belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties.
The Company assumes no obligation to update any of the forward-looking statements in this release.
Contact:
Cal-Bay International, Inc.
Tim Garlin, 760-930-0100
Fax: 760-930-0200
IR@calbayinternational.com
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