DENVER, June 14, 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 'small box' real estate projects, announced today that its Funding Agreement with GDBA Investments, LLLP has been amended to provide an additional $2.5 million in subordinated debt. This increases the Company's ability to borrow for projects up to a maximum of $10 million under this amended agreement. All the other terms of the amended agreement are the same as the original agreement. This revolving line of credit, together with the Company's line of credit with Vectra Bank Colorado, supports AARD in obtaining up to $18 million in funding for specific development projects.
Alex Lagerborg, president and CEO of AARD, said, "This additional funding will assist Across America Real Estate Development in providing funding to 'small box' retail, which we believe is an underserved market. It will also assist the Company in maximizing our return on investment for each project and provide an opportunity for the Company to be more efficient in deploying its capital. We believe we can provide an efficient financing experience to our developer partners in this underserved 'small box' market."
GDBA Investments, LLLP is a private investment partnership which owns approximately 65% of AARD.
About Across America Real Estate Development
Across America Real Estate Development is a national, publicly traded company that is an investor partner focusing on 100% financing of build-to-suit projects and also seeks to be the low cost provider of financing for those transactions where a bank requires developer equity.
Forward-looking Statements. All statements contained in this press release that are not statements of historical fact and constitute "Forward-Looking Statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act). Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause our actual results to differ materially from historical results or from any future results expressed or implied by such forward-looking statements. Readers are urged to consider statements that include the terms "believe," "belief," "expects," "plans," "anticipates," "intend," or the like to be uncertain and forward-looking. Forward-looking statements also include projections of financial performance, statements regarding management's plans and objectives, and statements concerning any assumptions relating to the foregoing.
Additional information can be found at the Company's web site at www.aard.us. Copies may also be obtained by contacting Across America's offices at 303-893-1003. The company assumes no obligation to update the information in this press release.