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Autris Completes Substantial Land Purchase to Create the Newest Veritas Village Community in Costa Rica with an Appraised Value of $34.29 Million
Autris Completes Substantial Land Purchase to Create the Newest Veritas Village Community in Costa Rica with an Appraised Value of $34.29 Million.
About this update from Autris
[{"type":"text","content":"\r\n\r\n \r\n \r\n Autris Completes Substantial Land Purchase to Create the Newest Veritas Village Community in Costa Rica with an Appraised Value of $34.29 Million\r\n \r\n \r\n\r\n\r\nAutris Completes Substantial Land Purchase to Create the Newest Veritas Village Community in Costa Rica with an Appraised Value of $34.29 Million\r\n\r\n\r\n\r\nNewsfile Corp.\r\n\r\n\r\nNewsfile Corp\r\n\r\n\r\nPanama City, Republic of Panama--(Newsfile Corp. - September 22, 2025) - Autris (OTC: AUTR), (\"Autris\" or \"the Company\"), a pioneering company dedicated to promoting freedom and self-sustainability through the acquisition, design, development, and construction of self-sustainable communities throughout Latin America and the Caribbean, reports completion of the purchase of 138.225 hectares (over 340 acres) to create the newest Veritas Village Community in Atenas, Costa Rica.\r\nFurther to the company's Press Release dated June 19, 2025, Autris, through a newly formed wholly owned Costa Rican subsidiary, is pleased to report that it has purchased a 138.225-hectare site for the new Veritas Village Community in Atenas, Costa Rica. It is the company's largest undertaking to date with a recorded value of $29,026,725 (appraised value was $34,290,637.50). The company obtained vendor financing over 10 years of $15,587,326 partly tied to lot sales giving substantial flexibility for repayment with the balance paid in cash and a surplus valuation reserve. Payment totals in the first 4 years are minimal, leaving the company with ample funds to market and develop the community without any need for additional capital. This acquisition triples the balance sheet of the company and sets the stage for dynamic growth. Given the huge success of the company's flagship properties in Panama and Nicaragua, Autris looks forward to expanding on that success in Costa Rica and beyond.\r\nThe company estimates, based on initial master planning, that the community will consist of between 350 and 400 residences and all the amenities associated with the Veritas Villages brand. We anticipate a revenue runway of between 240 million to 280 million for the project with a margin consistent for our communities at 40% blended between house and lot sales.\r\nKey features of Veritas Village - Atenas land and future community:\r\n\r\n \r\nAtenas, Costa Rica boasts the enviable...