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HOLIDAY ISLAND, AR / ACCESSWIRE / May 6, 2021 / Holiday Island Holdings, Inc. (OTC PINK:HIHI) operating in the recreational and remote living real estate market in the geographic markets of Texas, Arkansas, Oklahoma, Missouri, and Louisiana, .announced today that the Company has signed a purchase contract to acquire a partially developed lakeside RV park in Jackson County, Texas, in proximity to Lake Texana and the new Interstate-69 highway (connecting Houston to Corpus Christi and to the Rio Grande Valley).
The park is also within the highly-touted Texas "Coastal Industrial" area as nearby are a major Alcoa processing plant, a major Formosa Plastics plant, and several other major manufacturing/processing plants, most who need access to Texas' coastal shipping outlets.
The acquisition price is $500,000 with development cost of $600,000 for a total cost of $1,100,000.
Thompson added: "This is a significant opportunity as the 25-acre property is now partially developed with a few RV sites, allowing us to add new RV spaces and rental units to our design and specifications. We have immediate access into Lake Texana, and we have a two-acre pond which we will incorporate into our design as an amenity. At this time, this will be our first recreational/remote living project, and we will operate it as "HIHI Lake Texana Retreat".
"We are working on two other acquisitions prospects (one in Houston and one north of Houston), and they are being presented to our investor groups for acquisition and growth financing. We expect our initial due diligence to be completed within 30 days."
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
Gene Thompson, CEO & Chairman
SOURCE: Holiday Island Holdings, Inc.
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