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LIG Assets Closes on 60 Acre Upscale Residential Subdivision Project in Brentwood, Tennessee. Projected Sales Phase 1 $28,000,000
LIG Assets Closes on 60 Acre Upscale Residential Subdivision Project in Brentwood, Tennessee. Projected Sales Phase 1 $28,000,000.
About this update from Lig Assets, Inc.
[{"type":"text","content":"\n\n Additionally, LIGA Homes Appoints Alexa Bass as Senior V.P. of Sales & Marketing\n\n \n \n \n \n \n \n \n \n \n \n \n EXIT Realty Elite\n \n \n \n \n \n \n \n \n\n DALLAS, TX , Feb. 01, 2018 (GLOBE NEWSWIRE) -- LIG Assets, Inc. (LIGA) (also known as the \"Leader in Green Assets\" or \"LIGA\"), announces it has launched the Company’s Joint Venture where the team of LIGA and real estate franchise leader EXIT Realty Elite have negotiated a two part deal to purchase a beautiful 60.19 acre tract along the hillsides of Brentwood, Tennessee. First phase of the acquisition on Bluff Rd., which officially closed with Smart Title & Escrow, Franklin TN, January on 30, 2018 entails the purchase of 30 acres for the price of $1,000,000 with first option to purchase the remaining 30.19 acres for an additional $1,000,000 within 12 months of the originally executed purchase agreement.  LIG Assets was required to deposit $150,000 to secure deeded title for the exclusive and highly sought property.  The acquisition was completed without the use of LIGA shares or convertible notes, ensuring the integrity of the stock structure.  CEO Allan Gillis stated, \"Our shareholders should be pleased to know that LIG Assets is now in a very strong financial position as we are able to be proceed on our development projects with support of our major long term shareholders and management team without having to go to the public markets to sell stock.\"  The structure of the deal partners the current owners in with the development which allows LIGA to incrementally pay for the parcel as the development sells inventory which allows a positive cash flow position throughout the build-out process. This financial win was leveraged by LIGA's Buyer Agents, Linda Byrd and Alexa Bass. The team also plans to develop the infrastructure in phases of 10 acres which will build equity early into the land value creating the opportunity to acquire favorable conventional lending terms if needed. The subdivision will be developed and marketed in three separate phases.  Developing the project in stages will reduce initial cash outlay to begin development, increase parcel value and equity return. Staging can also be geared to match the Company’s pre-sale commitments and offers the scope for accelerating the land development cash flow, b...