News , >> Black Castle Developments Announces Reorganization
Black Castle Developments (PC) (USOTC:BDVI)
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Today : Tuesday 26 July 2011
Black Castle Developments, Inc. (PinkSheets: BDVI) ("BCD"), a real estate acquisition firm focused on purchasing non-performing notes and bank-owned, income-producing commercial properties, today announced it is undergoing a reorganization to change its corporate name to Black Castle Developments Holdings, Inc. BCD is awaiting final confirmation of the accepted corporate action and anticipates completion soon from FINRA.
"The process of the corporate reorganization has postponed or otherwise halted BCD's ability to close escrow on its first purchase of the 50 + unit apartment complex and to enter into escrow on the first block of 10 homes in a Fresno, CA; which it appreciates the understanding and. While our reorganization is pending approval, we have diligently worked on putting multiple deals together within our targeted, discounted areas," said Jeff Holroyd, Founder and CEO of BCD. "Recent studies show that stocks in the real estate investment trust sector outperformed the S&P 500 in 2010 and are expected to deliver 9% to 11% in total returns in 2011. BCD's focus on the real estate sector can deliver core portfolio earnings, external growth, and superior access to very attractively priced capital in a depressed and inflationary economy. We believe we are on the right track for tremendous growth in 2011."
About Black Castle Developments, Inc.
Black Castle Developments, Inc. is focused on the direct acquisition of non-performing notes (NPNs) and the development, operation and management of income-producing commercial and residential distressed properties. The Company was founded by executives with over 20 years of experience in commercial real estate finance, origination, negotiation, and transaction execution. Profiling hundreds of NPNs daily in the $1 trillion U.S. loan marketplace, Black Castle Development's financial deal makers are capitalizing on the unprecedented and opportunistic U.S. real estate market. For more information, visit www.blackcastledevelopments.com.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Contact: Jeff Holroyd, CEOBlack Castle Developments559-435-2300info@blackcastledevelopments.comwww.BlackCastleDevelopments.comFind us on Facebook
SOURCE Black Castle Developments, Inc.
Get rich slow get poor fast.
“When a man with money meets a man with experience, the man with the experience ends up with the money, and the man with the money ends up with the experience.”
You have to take their money before they take yours. :-))))
