SAN DIEGO, March 08, 2021 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB: ILAL) (“ILA” or the “Company”), an international land investment and development firm, announced today that it has started site preparation for a second Merlot model home, a single-family residence at the Company’s 80-unit Plaza Bajamar community, of which Phase I includes 22 Merlot villas.
The Plaza Bajamar community is located within the internationally-renowned Bajamar Ocean Front Hotel and Golf Resort. The Bajamar Ocean Front Golf Resort is a master planned guarded and gated wine and golf community located 45 minutes south of the San Diego-Tijuana Border along the scenic toll road to Ensenada on the Pacific Ocean.
The 1,150 square-foot Merlot home features two bedrooms and two baths. The home includes two primary bedroom suites – one on the first floor and one upstairs, as well as fairway and ocean views from a rooftop terrace. Planned amenities include a pool, wellness and fitness center and office space.
Pricing for this floorplan starts at $189,000 with a variety of financing and payment options. Interested buyers and brokers are encouraged to visit: https://ila.company/plaza-at-bajamar/. To speak to a sales representative and make an appointment to tour the community, contact Analo Valdes at sales@ila.company or (858) 900-8056.
The Company further announces that is has closed a $500,000 bridge loan. The majority of proceeds will be used in the construction of infrastructure and model homes at the Company’s Plaza Bajamar and Valle Divino communities.
“This financing will allow us to continue executing on our development strategy at our Plaza Bajamar and Valle Divino communities,” said Roberto Valdes, Chairman & Chief Executive Officer of ILA. “While the terms of the loan provide for conditional conversion to equity as a form of collateral, we intend to repay the loan amount in entirety. This keeps both projects unencumbered and, ultimately, the financing will help strengthen our balance sheet at an attractive cost of capital.”
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.
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.
Investor Relations Contact:
Brooks Hamilton
Senior Vice President
MZ Group – MZ North America
(949) 546-6326
ILAL@mzgroup.us
www.mzgroup.us
International Land Alliance
Jason Sunstein, Vice President
Direct: (858) 692-2677
Jason@ila.company