Nashville, TN, May 02, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- LIG Assets, Inc. (OTC PINK: LIGA) (also known as the "Leader in Green Assets" or "LIGA") announced today the closing on the purchase of the additional 30 acres for the Bella Serra Development in Brentwood, Tennessee. The terms of the agreement are identical to the initial 30 acre transaction bringing the total acreage for the project to 60. The total “As Is” appraised value of the land is now $5.2MM after the recent rezoning of the property. The company is now working on finalizing a $3.7MM non-dilutive financing commitment to begin the build out process with projected revenue of $52MM upon completion.
In order to assure rezoning approval and adequate access to the proposed development, LIG Assets Executive Management purchased two adjacent properties totaling approximately 5 acres for $662,000. LIG Assets President, Marvin Baker, stated, “The purchase of this additional 5 acre parcels allows for easy access to LIG’s 60 acres while also providing working and storage facilities for our crew and equipment necessary as we move forward in the development process.” Chief Financial Officer, Doug Vaughn, commented, “The recent annual report referenced the unrealized gains for various properties and assets. The $3.2MM gain on the Brentwood land is now complete as the appraisal was for the entire 60 acres. For every dollar we spend on infrastructure the value of the land is expected to increase by up to four times with each incremental dollar invested. Furthermore, given the scarcity of available lots and homes within a short drive of downtown Nashville, we believe and expect a rapid sales process.”
The Company continues working diligently on additional initiatives and expects to update shareholders via our newsletter regarding its progress in the coming days.
Bella Serra – Brentwood, Tennessee:
A Luxury Mediterranean hillside resort development offering the variety of custom single-family homes and the simplistic lifestyle living of condominium villas for the most discerning buyers of luxury living at its finest. The most unique feature of these homes will be the green sustainability factor built with consideration of the environment in mind. A high quality luxury resort lifestyle community with wellness in mind while reducing carbon emissions and energy consumption to improve our quality of life. Derived from the Latin/Italian influence Bella meaning beautiful and Serra meaning views from a high place or high ridge as our community rests at one of the highest peaks in Brentwood with our ridgeline facing south into Brentwood/Franklin and the lower lined development facing toward Nashville.
Bella Serra is a concept development using sustainable building products brought to us by well-known Environmentalist Robert Plarr. Bella Serra will be Nashville and Middle Tennessee’s first fully sustainable community. A new approach to residential build application using light gauge steel framing versus wood framing with our high-quality magnesium oxide panels where the combination creates a sustainable structure resistant to 185 mph winds, water and mold resistant, fire resistant to 3500 degrees with a burn rate of 5 hours before the material begins to breakdown.
About LIGA Homes:
LIGA Homes unique residential and commercial developments utilize specially designed and manufactured recycled "element resistant" steel framing, in addition to toxic free magnesium oxide building materials and panels that are 100% mold, fungus, termite and rot resistant and fire resistant against temperatures up to 3500 degrees Fahrenheit as well as famed environmentalist Robert Plarr's exclusive "maximum rated" R-60 insulation -- combining to create disaster resistant materials and structures that can withstand up to a 7.5 magnitude earthquake and sustained gale force winds up to 175 MPH while negating damage caused by rain and flood exposure. With the addition of Plarr's green and renewable systems and products, LIGA Homes is now capable of providing affordable, fully sustainable and disaster resistant living environments – LIGA Homes is at the forefront of this new and improved direction for the green, sustainable and construction sectors.
For more information about LIGA Homes visit - www.LIGAHomes.com or contact the Company directly at 833-LIGAHOMES.
General inquiries: ContactUs@LIGAHomes.com
About LIG Assets, Inc.:
LIG Assets, Inc. in association with Robert Plarr is the emerging "Leader in Green Assets" -- focused on exclusive green, renewable energy and sustainable homes, living systems, technologies and components to be utilized in the residential and commercial real estate acquisition and development projects currently under way and now individual product sales, as well as rapid expansion into other sectors via acquisitions, mergers and joint venture partnerships. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA".
LIGA Homes in association with the Company’s other wholly-owned subsidiary, LIG Developments, LLC., a steel framing manufacturing and design entity incorporated under the LIG Assets corporate umbrella will fast track LIGA Homes’ development as an emerging pioneer in the green and renewable energy sectors having successfully created the world’s first earthquake, flood, hurricane and fire resistant homes and structures that are 100% fully sustainable and disaster resistant – from individual green systems and homes to fully sustainable communities and commercial centers - completely revolutionizing the sustainable and renewable construction movement forever!
For additional information about LIG Assets, Inc., Robert Plarr, and/or how to purchase our exclusive homes, structures, products and technologies or to subscribe online to LIGA's free Shareholder Newsletter for regular updates and alerts regarding important Company developments please visit the Company's website at www.LigaHomes.com -- also follow LIGA at Twitter.com/LIGAssets.