SPZI: JP 3E Holdings, Inc. Acquires $37,460,000 Appraised Value, 510 Hamilton Real Estate
JP 3E Holdings, Inc. (OTC: SPZI) has acquired the 510 Hamilton Real Estate property for $24,000,000, appraised at $37,460,000 with $14,300,000 equity. The property, located in Somerset, NJ, is an 84-unit multipurpose student housing facility with two commercial spaces, generating approximately $200,000 in monthly income. It's projected to yield $2,430,000 in annual rental income for 2024.
The acquisition was made through a combination of 70,000,000 warrants at $.20 per share ($14,000,000) and 20,000,000 Series C Preferred Stock at $0.50 per share ($10,000,000). This move aligns with JP3E's strategy of combining education, eating, and energy platforms. CEO John Park emphasized the immediate value this acquisition brings to JP3E's balance sheet and income statement, hinting at a larger real estate acquisition announcement coming soon.
- Acquisition of 510 Hamilton property valued at $37,460,000, purchased for $24,000,000
- Property generates $200,000 monthly income, projected $2,430,000 annual rental income for 2024
- Acquisition strengthens JP3E's balance sheet and income statement
- CEO converting $100,000 personal loan to common stock, eliminating company debt
- Potential dilution due to issuance of 70,000,000 warrants and 20,000,000 convertible preferred shares
On Track to generate
NEW YORK, July 18, 2024 (GLOBE NEWSWIRE) -- JP 3E Holdings, Inc. (OTC: SPZI), formerly known as Spooz, Inc. is excited to announce the addition of our first of several real estate purchases, which falls into the education/real estate platform of JP3E’s three “E’s” platform strategy of combining education, eating and energy under JP3E. The 510 Hamilton Real Estate property was acquired through a signed Membership Interest Purchase Agreement with Hamilton Street Associates, LLC, and was appraised by A.F. Lama Realty Services, Inc. at
The 510 Hamilton property is cash flow positive and currently generates approximately
The 510 Hamilton Street Property is located at 510 Hamilton Street, Somerset, NJ 08873 and was constructed in 2019. It is an 84 multipurpose student housing facility with two commercial spaces. The property is improved with a 4-story over parking garage and is an elevator mixed-use building. The facility is approximately 93,000± SF of gross building area (GBA) and 71,330 SF of rentable building area (RBA). It is approximately 1.03 acres and zoned HBD, Hamilton Business District.
John Park, Chairman and CEO of JP 3E Holdings, commented, “The acquisition of 510 Hamilton will bring immediate value to JP3E, strengthening our Balance Sheet and Income Statement. A larger real estate acquisition will be announced in the coming days to reflect our commitment to bringing significant value into JP3E. I will also be converting my
Investor Presentations will be available under the “Research” tab for the above real estate project and business entity at OTC Markets: https://www.otcmarkets.com/stock/SPZI/research
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About JP3E:
JP3E is a global leader in commodity trading, known for its innovative approach to optimizing trade processes and solutions across numerous sectors. With a commitment to sustainability and market leadership, JP3E continues to drive new trends and solutions in global commodity markets.
Company Contact:
John K. Park, Chairman and CEO
john.park@jp3eholdings.com
732-241-0598 Office
Websites: https://www.jp3e.com/
https://www.jp3eholdings.com/
Twitter: http://www.twitter.com/SpoozInc
Facebook: http://www.Facebook.com/SpoozInc
E-Mail: info@jp3e.com
FAQ
What is the value of the 510 Hamilton property acquired by JP 3E Holdings (SPZI)?
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