Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Due Diligence who wrote (30393)	2/24/2000 11:19:00 AM
From: SSP	Respond to of 150070

MMDI - parent company TNAV has news out! Tri-National Names Morgan Stanley Dean Witter Preferred Lender Business Editors SAN DIEGO--(BUSINESS WIRE)--Feb. 24, 2000--Tri-National Development Corp. (OTC BB:TNAV) and its majority owned subsidiary, Alpine Gardens East, Inc. ("AGE"), announced today that Morgan Stanley Dean Witter (NYSE:MWD) has been named the preferred lender for the individual mortgage financing for Youngtown Gardens. Youngtown Gardens is a 126-unit assisted living facility in Youngtown, Arizona. The Company completed construction on two models and the main entry building with offices and is currently 60% completed on the remaining 124 units, with an expected completion date in May of 2000. The Company hosted a formal open house at the site, with over 1,000 visitors in attendance, to publicize the project and the sale of its 126 condominiums for investment and owner occupied senior housing. The Company received additional reservations, now totaling over 200, to buy the 126 condominiums at an average of $197,500 each. The 6-acre facility is expected to be built-out for under $17,000,000. AGE will operate the facility and manage the condominiums for the investors, leasing them to seniors in need of housing. Incorporated in the Youngtown development will be 36 units specifically for people suffering from Alzheimer's and Dementia, which will be overseen by Dr. Javaid Sheikh. Dr. Sheikh is a world-renowned expert on geriatrics and currently Associate Professor of Psychiatry at Stanford University. In addition to providing a separate independent profit center for the project, the Alzheimer's and Dementia facility will provide on-site basic care to residents of the assisted living condominiums. Tri-National's objective is to provide high quality senior independent and assisted living services and Alzheimer's and Dementia care in a cost-effective manner. AGE senior care facilities will offer housing and have available basic health care and personal support for elderly residents who are in need of assistance with certain activities of daily living but do not require the resources of a complete nursing facility. Currently, 23% of the U.S. population requires assisted living while 95% of all assisted living beds in the U.S. are full. This release contains forward-looking statements that involve risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors. FOR MORE INFORMATION SEE WWW.TRI-NATIONAL.COM. Tri-National Development Corp. is an international real estate development and management company. --30--sdg/ny* CONTACT: Investors and Media: The Investor Relations Group, New York Lisa Lindberg and Dian Griesel, Ph.D. 212-736-2650 Theproteam@aol.com or Tri-National Development Corp., San Diego Jason Sunstein Phone 619-718-6370 Fax 619-718-6377 e-mail: jason@adnc.com tri-national.com