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SimplyBestPennyStocks Newsletter
Simply Best Members We hope you had the chance to start your research on BDVI. If you did not there is still time! BDVI just released big news that they have entered into escrow on a $1 mill dollar Fresno property. This news was just released and is yet to be traded on! Black Castle Developments Enters Into Escrow on $1 MillFresno Property FRESNO, Calif., June 16, 2011 /PRNewswire/ — Black Castle Developments, Inc.
(“BCD”), a real estate acquisition firm focused on purchasing non-performing notes and bank-owned, income-producing commercial properties, today announced that it has entered into escrow to acquire an over 50-unit apartment complex located in Fresno, CA. The Company previously announced it had entered into a letter of intent agreement to purchase the property for $1 mill. The terms of the purchase and sale agreement have been agreed upon between BCD and the bank that owns the property and also a $25,000 deposit has been made into the escrow account at Placer Title.
“BCD continues to embark on new commercial and residential acquisitions that can help alleviate and revitalize the troubled real estate market. Our ability to identify properties and negotiate extremely favorable pricing positions us to create a windfall of opportunity for our shareholders. The purchase price of the Fresno complex is $1 million, but the real value is at least double that,” said BCD Chief Executive Officer Jeff Holroyd. He goes on to share that, “Our #1 focus with our property acquisitions is income. We anticipate at least a 20% annual rate of return on our $1,000 ,000 acquisition. Over the past decade, I have personally established business relationships with a plethora of investors, bankers and brokers. I am pleased to say that with the formation of BCD, many of my constituents are now selecting BCD to represent them exclusively. Furthermore, we have an opportunity to close a minimum of 400+ more units with the same profit potential at a 50% discount.” About Black Castle Developments, Inc.
Black Castle Developments, Inc. is focused on the direct acquisition of non-performing notes (NPNs) and the development, operation and management of income-producing commercial and residential distressed properties. The Company was founded by executives with over 20 years of experience in commercial real estate finance, origination, negotiation, and transaction execution. Profiling hundreds of NPNs daily in the $1 trillion U.S. loan marketplace, Black Castle Development`s financial deal makers are capitalizing on the unprecedented and opportunistic U.S. real estate market. For more information, visit [1]www.blackcastledevelopments.com.
[2]Full News Release BDVI has been very active the last few days and could continue with that trend today. Be sure to watch it closely and always remember to do all the proper research.
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References 1. http://us.lrd.yahoo.com/SIGr7t46eq/EXP09437749/**http%3A//www.blackcastledevelopments.com/
2. http://finance.yahoo.com/news/Black-Castle-Developments-prnews-2216641909.htmlx=0&.v=1 This message was sent to from:
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