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Community Redevelopment Inc. Executes Merger Agreement By Which It Acquires Interests In 6 Washington DC Area Retail, Multifamily And Mixed-Use Commercial Real Estate Portfolio; Adds Substantial Assets
Community Redevelopment Inc. Executes Merger Agreement By Which It Acquires Interests In 6 Washington DC Area Retail, Multifamily And Mixed-Use Commercial Real Estate Portfolio; Adds Substantial Assets.
About this update from Community Redevelopment Inc.
[{"type":"text","content":"\n MIAMI, Sept. 20, 2021 (GLOBE NEWSWIRE) -- Community Redevelopment Inc. (OTC: CRDV) (\"the Company\"), a developer of community oriented real estate in urban and suburban markets with a focus on all aspects of the real estate development cycle, announced today it executed a Merger Agreement by which it has now acquired a portfolio of membership interests in six commercial retail, multifamily and mixed-use properties, in the Washington, DC Metro area. All the properties are both partially occupied and under continued development. Community Redevelopment Inc. sourced this opportunity off-market and leveraged its reputation as a strong and credible buyer, which includes senior experienced management, to facilitate an expedited close. Community Redevelopment Inc. offers the public an opportunity to participate in the current trends in the real estate market by investing in these projects as a shareholder. As an owner of shares of common stock, investors may experience significantly increased liquidity as compared to owning blocks of real estate directly. Myron Jones, Head of Development for Community Redevelopment Inc. said, “The Acquisition of these six prime commercial properties showcases our foremost investment criteria, which consists of quality, well positioned real estate in high growth markets and demographics, anchored by strong, stable tenants.\" Mr. Jones continued, “In the coming years, we believe that acquiring and developing Class A investment assets in prime neighborhoods will yield strong returns.” Community Redevelopment Inc. affords potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, via a publicly traded company. Our experienced Development team offers a number of client-driven commercial real estate services. Our Development team is experienced in developing mixed-use town centers, apartment and condominium buildings, Class A and B office space, neighborhood retail centers, and many other projects. The principals of our organization have exemplified performance across the broad spectrum of real estate products and development services in the past and expanding into the Mid Atlantic, South East, and Gulf Coast states markets. Community Redevelopment Inc. plans to deliver significant value to sharehold...