GREAT NEWS!! This stock has shown buying on news several times in a row now. What a great habit :)
NRPI Gives Details of $18,000,000 ''Eagle Trace''
MIAMI--(BUSINESS WIRE)--June 8, 1999--National Rehab Properties,
Inc. (OTC BB:NRPI) announced today that it has entered into an
agreement to purchase 20 Acres for $14,000 per acre cash. Projected
profit from the sale of 100 homes will be $3,500,000. The project will
be known as "Eagle Trace".
The land is approximately 2 miles north of the Indian River Mall,
a De Bartolo regional shopping mall. The land is on Kings highway, the
road to Disney's Atlantic beachfront resort at Orchid-Vero Beach. The
area is approximately 100 miles from Disneyworld in Orlando.
Richard Astrom, President and CEO, stated: "Home Depot, Sams
Wholesale Club, Olive Garden, Walgreens, Eckerds, 5 banks and every
franchise imaginable are already around the Indian River Mall. The
area is booming with new subdivisions replacing citrus orchids. It is
obvious that there is a huge demand for residential lots and homes".
The company announces it has a new Internet Web site, with a
temporary address of http:/www.pagelot.com/nrpi.htm.
The company is in final negotiations on several additional
acquisitions and anticipates being able to disclose them publicly in
the very near future.
National Rehab Properties, Inc. builds homes and rehabilitates
homes for the "first time homebuyer" in the mature established
residential neighborhoods of Florida and will continue to do so.
Forward-looking statements in this press release are made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation reform act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties, including
without limitation, continued acceptance of the company's products,
competition, completion problems, technological changes and other
risks.
CONTACT:
National Rehab Properties, Inc., Miami
Richard Astrom, President and CEO
Telephone: 305/573-8882
Fax: 305/571-8357
nrpi.com
E-Mail: Realtyrich@aol.com
or
Investor Relations:
PMR and Co
Patrick M. Rost
Telephone: 760/942-0015
E-Mail: PMRandCo@aol.com
KEYWORD: FLORIDA
BW1330 JUN 08,1999
7:43 PACIFIC
10:43 EASTERN |
