Oriens Evaluates Property Appraisals; $400k Avg. Price per Unit
27 June 2014 - 10:15PM
Marketwired
Oriens Evaluates Property Appraisals; $400k Avg. Price per Unit
Pan American R.E. Appraisal Firm Estimates 42 Unit Jaco Beach
Property's Basic Unit Sales Price Is $405k per; Penthouses Fetch
More Than Twice the Amount
LAS VEGAS, NV--(Marketwired - Jun 27, 2014) - Oriens Travel
& Hotel Management Corp. (OTC Pink: OTHM) (PINKSHEETS: OTHM),
the Next Generation International Hotel Brand Operator, operating
its Hotel PURE brand, announced today, that Oriens has received an
official appraisal from a certified "Pan American Valuer,"
substantiating the value of the condo units within the 15 story,
forty-two unit beach front condo/hotel building [Costa Rica Jaco
Beach], of which BW Point Condominium Trust LLC SRL ("BW Point") is
in contract to sell its interest to OTHM.
The appraisal shows a range in value, reaching as high as $500k
for the property's 2-bedroom units (property comprised of 40
two-bedrooms). The property's large, 3-Bedroom penthouses can
yield as much as $1,000,000.
The acquisition, the first of several Oriens is currently
negotiating at Costa Rica's Jaco Beach, has been secured by an LOI
with BW Point. The deal was consummated by a cash payment made with
funds raised in a non-toxic financing.
"This acquisition will serve as the foundation, to launch and
develop our brand management, property ownership and online booking
services business model in beautiful Costa Rica," stated Ken Chua,
President of Oriens Travel & Hotel Management. "With the
assistance and support of local professionals and lenders, Oriens
is positioned to leverage some amazing opportunities here. We
expect that once this first acquisition is complete, we will have
the ability to quickly close on other anticipated projects. This
should give our shareholders the confidence to continue growing
with us."
Management expects this initial transaction to move toward
finalization within the next week; with the hopes of being closed
within 20+ business
days.
About Oriens Travel & Hotel Management Corp.
(www.orienscorp.com) (PINKSHEETS: OTHM) engages in the operation of
hotels and resorts primarily in the United States and Central
America under the Hotel PURE brand. The company also operates
Friendly Reservations Online, a proprietary and sophisticated
online booking system designed to execute reservations capture
through Hotel PURE consumer facing websites, as well as individual
hotel websites operated by Oriens on behalf of hotels branded under
the Hotel PURE brand. Oriens is based in Las Vegas, Nevada.
Safe Harbor Statements in this news release that are
not historical facts, including statements about plans and
expectations regarding products and opportunities, demand and
acceptance of new or existing products, capital resources and
future financial results are forward-looking. Forward-looking
statements involve risks and uncertainties which may cause the
Company's actual results in future periods to differ materially
from those expressed. These uncertainties and risks include
changing consumer preferences, lack of success of new products,
loss of the Company's customers, competition and other factors
discussed from time to time in the Company's filings with the
Securities and Exchange Commission.
Related Links:
Blog: http://orienscorp.wordpress.com/ Twitter: @orienscorp
Facebook:
https:/www.facebook.com/pages/Oriens-Travel-Hotel-Management-Corp
Contact: Team Oriens IR Div. (702) 483-0318
Meso Numismatics (PK) (USOTC:MSSV)
Historical Stock Chart
From Apr 2024 to May 2024
Meso Numismatics (PK) (USOTC:MSSV)
Historical Stock Chart
From May 2023 to May 2024