BETHESDA, MD / ACCESSWIRE / December 2, 2021 / Alset EHome International Inc. (NASDAQ:AEI) ("AEI" or the "Company"), a diversified holding company principally engaged through its subsidiaries in the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products, is pleased to announce that the Company's Singapore Exchange-listed majority-owned subsidiary Alset International Limited has completed the process of seeding its indirect subsidiary, American Home REIT ("AHR") with its first 30 occupied rental homes.
Alset International Limited intends to develop AHR as the owner and manager of a Class A portfolio of income-producing, high-yielding real estate in the US, with a focus on large gated single-family home ("SFH") communities. AHR targets to acquire assets having a capitalisation rate of approximately 5% on net operating income and intends to pay a quarterly dividend of up to 6% annualised yield.
AHR's current pipeline of SFH properties reside in Alset International Limited's master planned community, Alset at Black Oak in Magnolia, Texas, and other communities such as Northpark Woods in Porter, Texas.
"It has been our organisation's mission to develop a sustainable healthy living ecosystem, and AHR was strategically established as one of the key driving factors in this journey. Having successfully completed the seeding of our first 30 residential assets, AHR is well on its way to generate a steady flow of recurring income that will fuel our overall growth plans in the years moving forward." commented Mr. Chan Heng Fai, the Company's Chairman and Chief Executive Officer. Mr. Chan added, "Looking ahead, we hope to develop close to 5,000 intelligently designed sustainable energy homes over the next three to five years. With AHR, it provides Alset International Limited with a platform to free up capital to scale our portfolio of residential real estate assets at an expedited pace, whilst continuing to enjoy an attractive yield."
Alset International Limited will continue to tap its robust pipeline of rental properties at Alset at Black Oak, Northpark Woods and other communities to build up AHR's asset base. Plans are already in place to increase the number of SFH homes under Alset International Limited to more than one hundred (100) homes by the end of 2021.
About American Home REIT Inc.
AHR seeks to own and manage income-producing, high-yielding real estate in the United States. In particular, AHR focuses on bulk purchases of large gated SFH communities that meet the investment requirements set by a team of highly experienced management and advisors. This includes an existing organic pipeline from the parent company that is developing its master planned community, Alset at Black Oak (Magnolia, Texas) and other communities such as Northpark Woods (Porter, Texas). AHR will further acquire other SFHs in master planned communities to generate a steady income stream for investors. AHR targets to pay a quarterly dividend of up to 6% annualised yield.
For more information, please visit: www.americanhomereit.com.
About Alset International Limited
Incorporated on 9 September 2009 and listed on the Singapore Exchange in July 2010, Alset International Limited operates as a global enterprise involved in (i) property development and investments primarily in the United States and Western Australia; (ii) development, research, testing, manufacturing, licensing and distribution of biomedical products; (iii) asset management with a primary focus in the US medical and housing REIT space; (iv) direct sales of a variety of health and wellness products; (v) information technology-related businesses including blockchain technology; and (vi) food and beverage business under the Group's hospitality segment.
For more information, please visit: www.alsetinternational.com or email [email protected].
About Alset EHome International Inc.
Alset EHome International is a diversified holding company executing on its vision to accelerate sustainable healthy living with a focus on the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products. Through its operating subsidiaries, AEI's mission is to provide a healthy living ecosystem that drives long-term exponential growth, building liquidity and value for shareholders. AEI is led by its chairman and CEO, Heng Fai Chan, a successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. Over his distinguished career, Heng Fai Chan has successfully restructured more than 35 corporations with a combined value of $25 billion.
For more information, please visit: www.alsetehomeintl.com.
Dave Gentry, CEO
RedChip Companies Inc.
Forward-Looking Statement Disclaimer
Statements in this press release contain "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Alset EHome International Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a discussion of the most significant risks and uncertainties associated with the Company's business, please review our filings with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Alset EHome International Inc. undertakes no duty to update such information except as required under applicable law.
SOURCE: Alset EHome International Inc.