DENVER, May 12, 2005 (PRIMEZONE) -- Across America Real Estate Development (Pink Sheets:AARD), a national publicly traded company that is an investor partner offering 100% financing for build-to-suit single pad "small box" real estate projects, announced today that it has received an increase in a funding agreement that it completed in November 2004 with GDBA Investments, LLLP, an affiliate and the Company's largest shareholder. This amended agreement will increase its subdebt financing $500,000 to $7.5 million in funding. All other terms of this amended agreement will be the same as the original agreement. The increase in this line of subdebt coupled with the newly established Vectra Bank of Colorado senior debt funding for ten million dollars will allow AARD to support current Company growth.
Alex Lagerborg, President and Chief Executive Officer of AARD said, "We continue to see developer and retail support for our market niche and construction financing model. We are growing faster than anticipated and it is our hope that with this increase from GDBA and with Vectra Bank Colorado as a financing partner, AARD will be able to accelerate its growth and financing plans which we believe will ultimately build shareholder value."
About Across America Real Estate Development
Based in Denver, Colorado, Across America Real Estate Development (AARD.PK) is an investor partner to real estate developers focusing on equity financing for build to suit projects and providing joint-venture financing for those transactions where a developer or a joint-venture partner requires equity. For more information visit our website www.aard.us or contact Alex Lagerborg at 303-893-1003 alagerborg@aard.us.
This press release contains certain information about AARD's business prospects and financial projections. These are only prospects and projections based upon good faith current expectations of the management of AARD. This information is based on assumptions as to future events that are inherently uncertain and subjective. AARD makes no representation or warranty as to the attainability of such assumptions or as to whether future results will occur as projected. You are expected to conduct your own investigation with regard to AARD and its prospects. The company assumes no obligation to update the information in this press release.