HOLIDAY ISLAND, AR–HIHI, (Marketwired – Apr 11, 2016) – Holiday Island Holdings, Inc. (OTC PINK: HIHI), a development stage company operating in the land development business, announced today that it entered into a Letter of Intent with Holiday Island Development Corporation, the exclusive developer of Holiday Island, Arkansas to acquire a commercial property strategically located at the Holiday Island shopping center.
This is a first in a series of planned real estate acquisitions at Holiday Island from HIDC valued at $35 million. The property is strategically located to expand the shopping center’s existing medical complex.
Gene Thompson, CEO of HIHI, stated that, “We are very pleased to make this announcement that will kick off our planned strategy to acquire, further develop, market, and resale commercial and residential properties at Holiday Island. We expect the acquisition will be final in approximately 45 days, as it is the time necessary to complete the related due diligence and secure financing.”
Holiday Island Holdings, Inc. has the unique opportunity to acquire, further develop, market, and resell all of the real estate holdings of the exclusive developer of Holiday Island, Arkansas, and take his place with exclusive developer rights, including planning and zoning for the entire community, and the exclusive ability to expand the boundaries of Holiday Island.
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