SAN DIEGO, CALIFORNIA, June 01, 2021 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILA” or the “Company”), an international land investment and development firm, has announced that Rancho Costa Verde Development, LLC (“RCV”) has commenced a fund to provide flexible financing solutions for homesite construction to selected qualified owners. The Company previously announced it closed a 25% interest investment in RCV in a combination of cash and stock for a total of $4,000,000.
“Given the abundant and increasing demand for affordable, sustainable housing in the Baja California region, we are committed to offering innovative financing solutions for the construction of new homes at RCV,” said Frank Ingrande, President of ILA. “The fund is currently accepting commitments from investors seeking stable returns, including some of the over 850 existing homeowners at RCV, which have already pledged over $1 million. We expect construction to accelerate as the fund matures, ultimately giving interested parties the ability to experience oceanfront homeownership through flexible financing terms.”
The total target amount for the new home construction fund is $5 million. RCV currently has over 50 homes completed, over 20 homes under construction, and approximately 30 additional homes planned for development.
Rancho Costa Verde is a 1,100 acre master planned second home, retirement home, and vacation home real estate community located on the east coast of Baja California, Mexico. It is just south of the small fishing village of San Felipe which is home to over 6,000 retired US citizens. Rancho Costa Verde is a self-sustained solar powered green community that takes advantage of the advances in solar and other green technology. The beachfront location, close proximity to the mountains, and natural topography at Rancho Costa Verde has created breathtaking 180-degree sea and mountain views from almost every home. Rancho Costa Verde offers 1/4-acre home sites starting as low as $22,500 and custom home construction from $82 per square foot.
For more information on RCV, please visit www.ranchocostaverde.com.
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.
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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.
CONTACT:
Investor Relations:
Brooks Hamilton
MZ Group – MZ North America
(949) 546-6326
ILAL@mzgroup.us
www.mzgroup.us