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Nashville, TN, — via NEWMEDIAWIRE — LIG Assets, Inc. (OTC PINK: LIGA) (also known as the “Leader in Green Assets” or “LIGA”) today announced it has closed on a funding agreement for $3.7 million from Tioga Capital for its “Bella Serra” Development in Brentwood, TN. The funding is non-dilutive thanks to the substantial market value of the property.
LIG Assets President, Marvin Baker, stated, “We reviewed multiple offers and believe that Tioga Capital provides us the best opportunity to complete our infrastructure development allowing us to build another level of exceptional value in the property.”
LIG Assets CFO, Douglas Vaughn, stated, “This funding is the final hurdle to begin the ‘Bella Serra’ development. Significantly, the $3.7MM is more than enough to develop the land all the way to the individual pads. At that point LIG Assets will have multiple options for financing and building the homes. The profits from lot sales alone should be in excess of $10MM dollars, and given the strength of the Nashville Metro market, the lots should sell very quickly. Closing this funding marks an inflection point in LIG Assets’ future and should lead to additional projects as the land development progresses.”
Paxton Griffin, a Principal in Tioga Capital, stated, “Tioga Capital is pleased to be providing this round of financing for the LIG Assets ‘Bella Serra’ Development. As a substantial real estate investor throughout the South East, Tioga sees numerous deals and we feel that the ‘Bella Serra’ Development has extraordinary potential. We look forward to building a long-term relationship with LIG Assets as they build their real estate development portfolio.”
After the recent re-zoning of the property, LIG Assets is ready to proceed with its grading permit applications and infrastructure construction. The latest site plan for “Bella Serra” Brentwood includes 155 residential units total with 43 Luxury single-family homes and 28 multi-family units consisting of 4 “Lifestyle Condos” per unit. The project, once fully developed, will generate significant revenue with preliminary revenue projections of approximately $80MM in gross home sales.
LIG Assets has met with several major homebuilders who have expressed strong interest in buying completed lots with discussions including forward sale contract opportunities. With this funding LIG will be able to build more value in the property substantially increasing equity basis for the company by completing the infrastructure construction.
Bella Serra – Brentwood:
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 3,500 degrees with a burn rate of 5 hours before the material begins to breakdown.
For more information about LIGA Homes’ disaster resistant homes and structures please contact our Company directly at www.LIGAHomes.com or call us at 833-LIGAHOMES
General inquiries: [email protected]
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.LeaderInGreenAssets.com — also follow LIGA at Twitter.com/LIGAssets.
About Tioga Capital:
Tioga Capital, LLC is a private investment firm based in Atlanta, GA that manages multiple partnerships across the real estate spectrum. Tioga takes a disciplined approach to opportunistically investing across the real estate capital structure, with a primary focus on the U.S. Sunbelt Region.
This press release may contain forward-looking statements. The words “believe,” “expect,” “should,” “intend,” “estimate,” “projects,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company’s current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks are detailed in the Company’s respective filings at www.otcmarkets.com.