NEW YORK, NY (Nov 30, 2015) — Metrospaces, Inc. (OTC PINK: MSPC) announces that it will re-launch its Chacabuco 1353 residential project in Buenos Aires as Telmo & Tango Apart-Hotel. Additionally, the project’s apart-hotel units will be sold as fractional ownership.
Mr. Daniel Silva, CEO of Metrospaces, stated: “This re-launching will give us the opportunity to sell the project’s units under a fractional ownership scheme. We expect that through this structure we will obtain a price 80% above the sale price of these units if sold as residencies, and will also give us a long-term business as the hotel operator. We are especially excited about this opportunity since it launches the same week that Mr. Mauricio Macri, a center-right candidate, won the Argentinean Presidency. We expect this victory to bring more a market-friendly economic policy that will help us in the marketing of the fractional units, as well as the hotel business once it launches. We expect for Telmo & Tango Apart-Hotel to open to the public end of 1Q of 2016.”
Total expected revenue for the sale of the fractional units is expected to be at approximately $3M in the next 2 years, with a 25% EBITDA margin for Metrospaces, and we will begin sales immediately. Additionally, once stabilized we expect the hotel operation to generate approximately $500K in revenue with a 30% EBITDA margin. We expect that this being MSPC’s first executed project, it will open up many doors for us in Buenos Aires, just in a period where we expect high investment levels into the country, as well as increased tourism.
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 Americas and across Europe valued in excess of US $450 Million.
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their worldwide 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 Metrospaces 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 $450 Million.
Metrospaces’ majority shareholders has partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, and are currently involved in negotiations for the development of several Elite luxury properties in South America.
Among Metrospaces’ 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.
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.
PRESS RELEASE SOURCE: Metrospaces, Inc.