MIAMI, FL, (December 16, 2014) — Metrospaces, Inc. (OTC Pink: MSPC) (PINKSHEETS: MSPC), announces the execution of an LOI to acquire the 75-hectare wine producing real estate project for $5.5 million.
Mr. Silva stated, “Bringing this sort of world-class major projects to Metrospaces is what my coming to the Company is all about. Ikal Lodge and Winery is an exceptional wine-based real estate project that will be comprised of a 25-room luxury boutique hotel, a world-class winery and 29 luxury villas that will be sold under fractional ownership.
“The hotel will be operated by Prohotels and marketed as a Small Luxury Hotel property.
“This project sits on 75-hectares of the most sought-after region for wine in Mendoza, Argentina. On what is considered to be the “Golden Mile” for wine producers, our projects sit only a few kilometers from where Chandon and Rothschild have their wineries. This is a truly exceptional location.
“This amazing project already has a wine brand that is selling very well in the US, Spain and Mexico. Total wine sales revenue was approximately $250,000 for the first 2Q of 2014, representing a 15% over 2013 (see: ikal1150.com). Even though this is not significant, it will turn us into a revenue producing company once the deal is completed. Total expected real estate revenue for the sale of the Villas is expected to be over $95 million with a 45% EBITDA. The project is shovel-ready, so we would be able to begin construction as soon as possible. Our forecast calls for total Hotel EBITDA of approximately $1 million annually and winery revenue of over $8 million per year. Winery EBITDA is approximately $2 million. Wine-based real estate projects are becoming one of the fastest growing segments in the vacation homes and hospitality sectors. For me, it’s simple: I came to Metrospaces to do a job, and that I will do!”
For a link to the “IKAL LODGE AND WINERY” project:
For a link to our 3 hotel projects currently underway:
Metrospaces www.metrospaces.net is a publicly traded real estate investment and Development Company which acquires land, designs, builds, and develops then resells condominiums and Luxury High-End Hotels, principally in urban areas of Latin America. The company’s current projects are located in Buenos Aires, Argentina, and Caracas, Venezuela. It is operated by an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the America’s and across Europe valued in excess of US $350 Million.
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their world-wide network of highly recognized real estate entrepreneurs, the company was able to capitalize on unique real estate development opportunities. Since Inception the company has leveraged those relationships along with extensive financial expertise and transformed excellence by results.
Metrospaces is a boutique real estate development company, a product of the alliance of Metrospace shareholders, along with an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the America’s and across Europe valued in excess of US $350Million.
Metrospaces’ majority shareholders has partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, and is currently involved in negotiations for the development of several Elite luxury properties in South America.
Among Metrospace partners are Architects, Real Estate Developers, Agents and Attorneys of the highest standing, with extensive experience in the global property market.
Metrospaces was originally founded by company President Oscar Brito.
About Ikal Lodge and Winery:
Ikal Lodge and Winery is a 75 hectare wine-based vacation home/hospitality real estate project. The project consists of a 25-master suite luxury hotel, a winery and 29 luxury villas that will be sold under fractional ownership. Ikal currently sells its award-winning wines in Spain, Mexico and the US. See: www.ikal1150.com.
Safe Harbor Statement:
Statements in this news release may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Metrospaces Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
SOURCE: Metrospaces, Inc.