(COMTEX) B: National Rehab Properties, Inc. Announces Acquisition of
B: National Rehab Properties, Inc. Announces Acquisition of Land for 60 Unit
Building
MIAMI, Oct 4, 1999 (BUSINESS WIRE) -- National Rehab Properties, Inc.
(OTC BB:NRPI) announced today that it has closed on and acquired title
to a 60 unit apartment site in Miami, Florida for $800,000. The project
is known as "GRANADA GRAND".
Richard Astrom, President and CEO stated: "We anticipate that the
company will realize revenues of $8,500,000 from the Project by 2001.
Upon completion of the project we expect a $2,500,000 profit which can
only mean good news for our shareholders".
NRPI is in the business of land acquisition and property development in
Florida. The company presently has projects in Miami, Vero Beach, and
Ft Lauderdale, Florida. NRPI is based in Miami.
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.
Copyright (C) 1999 Business Wire. All rights reserved.
Bruce |
