MIAMI, FL / ACCESSWIRE / December 5, 2014 / (OTC Pink: MSPC) (PINKSHEETS: MSPC): Mr. Brito stated: "The beautiful thing about this project is the way it is financially structured. The option agreement we executed is essentially a seller's note since it allows us to take control immediate of management, marketing and sales of this amazing project. We already have a local management team and will look to organize a sales team to begin marketing and sales in Q1 of 2015. This is an unexpected deal that we are very proud to be a part of. With our new world-class partner architect and developer Enrique Fornieles (http://www.arquitectofornieles.com.ar/), we are now taking our projects to the next level of execution. Mr. Fornieles will be Design Officer and will head construction operations for the project.
El Naranjo Yunga Estates project consists of 3000 hectares (7,143 acres) of undeveloped virgin land the pre-amazon region, northern Argentina. It will have 32 lots of an average size of 45 hectares (112 acres) giving each owner a real sense of "land ownership" in one of the most beautiful getaway places on earth. Additionally, the property will have an 8-room boutique hotel run and operated by re-known and prestigious luxury boutique hotel operator. This hotel will be made mostly to provide concierge services to the estates, and for guests of our land owners. Each lot is forecasted to be sold for $560,000 for total project revenue of about $18 million in 4 years approximately. Total land and development costs are expected to come in at about $8 million, thus providing and IRR of over 120% and $10 million in EBITDA. We are very excited about this project as we continue to execute and look to develop bigger, more quality and profitable projects.
For a link to the "El Naranjo Yunga Estates" project: https://db.tt/iYlW1sLx
For a link to our 2 hotel projects currently underway: https://db.tt/YYK50THw
About Metrospaces:
Metrospaces www.metrospaces.net is a publicly traded real estate investment and Development Company which acquires land, designs, builds, and develops then resells condominiums and Luxury High-End Hotels, principally in urban areas of Latin America. The company's current projects are located in Buenos Aires, Argentina, and Caracas, Venezuela. It is operated by an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the Americas and across Europe valued in excess of US $350Million.
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their world-wide network of highly recognized real estate entrepreneurs, the company was able to capitalize on unique real estate development opportunities. Since Inception the company has leveraged those relationships along with extensive financial expertise and transformed excellence by results.
Metrospaces is a boutique real estate development company, a product of the alliance of Metrospace shareholders, along with an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the America's and across Europe valued in excess of US $350Million.
Metrospaces' majority shareholders has partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, and is currently involved in negotiations for the development of several Elite luxury properties in South America.
Among Metrospace partners are Architects, Real Estate Developers, Agents and Attorneys of the highest standing, with extensive experience in the global property market.
Metrospaces was originally founded by company President Oscar Brito.
About Enrique Fornieles:
Mr. Fornieles is a world-re known Buenos Aires-based architect and land developer (http://www.arquitectofornieles.com.ar/). With over 25 years of land developing experience, Mr. Fornieles has successfully developed over 7000 hectares of land property in Europe and Latin America. Spanning from Madrid, to Mexico all the way down to Argentina, Mr. Fornieles is one of the most international and prolific land developer in Latin America. Combing his special design talent with great business acumen, Mr. Fornieles has been able to successfully develop land properties even in economic downturns.
Relevant Links: http://metrospaces.net/
Safe Harbor Statement:
Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Metrospaces Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
CONTACT:
Metrospaces, Inc.
Tel: 305-600-0407
Investor Relations: [email protected]
SOURCE: Metrospaces, Inc.