INTERNATIONAL LAND ALLIANCE, INC. ANNOUNCES LISTING OF EMERALD GROVE FOR $2.8M
International Land Alliance (OTCQB: ILAL) announced the listing of its 20-acre event venue in the Emerald Grove development, acquired for $1.1M in 2019. The company previously sold a 20-acre parcel for $630,000 and is subdividing 40 acres into residential lots. Current median prices for 5-acre lots in the area are $250,000. CFO Jason Sunstein highlighted that leveraging the real estate market's record prices offers a non-dilutive funding source, bolstering core business operations and marketing in Baja California developments.
- Listing of 20-acre event venue potentially creates a profitable exit opportunity.
- Previous sale of a 20-acre parcel for $630,000 demonstrates revenue generation.
- Subdividing 40 acres into residential lots could enhance land value.
- None.
SAN DIEGO, CALIFORNIA, Aug. 09, 2022 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB: ILAL), (“ILA” or the “Company”), an international land investment and development firm, announced that it has listed its 20-acre/8,000 square foot event venue at its Emerald Grove development in Southern California.
The Company acquired the 80-acre Emerald Grove development in 2019 for
Jason Sunstein, CFO of ILA, commented: “With real estate prices hitting record levels in Southern California, a decision was made to take advantage of the current climate and list this parcel. Creating a profitable exit opportunity and additional income provides us with an alternative and non-dilutive funding source to continue to drive its core business as we continue to ramp up the sales and marketing at all of our Baja California developments.”
The listing includes: 8,000 square feet, 20 acres, 4 beds, 4 baths, and 360-degree unobstructed views of the Temecula Wine County. To speak to a sales representative and make an appointment to tour the property, contact Lisa Landau at (619) 851-2681 or visit our website: https://www.emeraldgroveestates.com/.
About International Land Alliance, Inc.:
International Land Alliance, Inc. (OTCQB: ILAL) is an international land investment and development firm based in San Diego, California. As its’ core mission, the Company has embraced technology for sustainable and socially responsible solutions, in addition to using proptech and construction tech advanced applications to meet these goals. The Company is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The Company serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.
CONTACT:
International Land Alliance, Inc.
Jason Sunstein
Email: jason@ila.company
Phone: (877) 661-4811
Safe Harbor Statement
The press release may include certain statements that are not descriptions of historical facts but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects," or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions, which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.
FAQ
What did International Land Alliance announce on August 9, 2022?
What is the location of the Emerald Grove development?
What was the acquisition cost of the Emerald Grove development?
How much did the company earn from the sale of the vacant parcel?
What are the current median prices for lots in the surrounding area?
What is the significance of the event venue listing for ILAL?
