NRPI news:
(COMTEX) B: National Rehab Properties, Inc. CEO Addresses Miami City
B: National Rehab Properties, Inc. CEO Addresses Miami City Commission
MIAMI, Jan 13, 2000 (BUSINESS WIRE) -- National Rehab Properties, Inc.
(OTCBB:NRPI) announced today that its President and CEO, Richard Astrom
made a presentation to the Miami City Commission of NRPI's two
apartment projects, Granada Grand and Conquistador Plaza. Astrom spoke
about the neighborhood impact of the buildings and that NRPI was not
asking the City for monies, zoning changes, or favors, only speedy
approvals of its building plans and issuance of building permits.
Astrom described the very slow process of building permit issuances
NRPI has experienced at the Metropolitan Miami Dade County Building
Department and their unresponsiveness to small projects and those
projects in low income areas. Astrom explained that NRPI wanted to do
more projects in the City of Miami and enjoy a good relationship with
the City of Miami. Commissioner Willie Gort stated: "You will find that
we are a very friendly city". Commissioner Tomas Regalado stated: "We
need new buildings in the city and we welcome you".
ABOUT THE COMPANY
NRPI, based in Miami, is in the business of land acquisition and
property development in Florida. Other NRPI projects are: building
single family homes in Miami, 100 homes projected for next 12 months
generating $9,000,000 in revenues and $1,500,000 net income; building a
60 unit apartment house in Miami (known as "Granada Grand"), generating
$8,500,000 revenues and $2,500,000 net income by 2001; developing a
subdivision in Vero Beach in which it is developing the land and
building houses (known as "Eagle Trace")generating approximately
$18,000,000 revenues and $2,500,000 net income between 2000 and 2001;
and a window manufacturing plant in Ft Lauderdale, Florida.
The company is seeking acquisitions and land for real estate
developments.
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) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: National Rehab Properties, Inc., Miami
Richard Astrom, President and CEO
Telephone 305/573-8882
FAX 305/571-8357
nrpi.com
E-Mail: www.RA@NRPI.com
or
Investor Relations:
Stockbroker Relations Inc.
Marc Jablon or Warren White
Telephone 800/546-7950
FAX 407/884-0125
WEB PAGE: businesswire.com
GEOGRAPHY: FLORIDA
INDUSTRY CODE: BUILDING/CONSTRUCTION
REAL
ESTATE
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