Unlock stock picks and a broker-level newsfeed that powers Wall Street.
ROI Land Investments Ltd. Announces Land Purchase Agreement to Acquire a 225 Acres (9,801,000 Square Feet) Parcel of Land in the Town of Evans, Colorado.
GlobeNewswire
QUEBEC CITY, Quebec, January 12th, 2015 (GLOBE NEWSWIRE) -- ROI Land Investments Ltd. (ROII) ("ROI" or the "Company"), a diversified real estate land development investment company announced today it entered into a Land Purchase Agreement ("Agreement") to acquire 225 acres (9,801,000 square feet) land parcel located in the Town of Evans, which is adjacent to Greeley, in the North-East part of Colorado, 60 miles (one hour) from it`s capital, Denver. Both towns represent a population of approximately 93,000 people in a market composed of the following characteristics:
Low vacancy rates increase rents and driving renters to buy a house
Current low interest rates make home ownership more affordable
Food industry within the country is in expansion thus far creating new jobs
Towns of Greely and Evans: Both towns located in Weld County, one of the largest in the country that traditionally has attracted oil & gas companies using fracking technology for drilling oil wells. Other industries are also expanding in Weld County where property taxes are very low, 0.75%. In the lasts 12 months, appreciation of homes was 19% and inventory lasted 1 month. The market value of Weld County agricultural products exceed $1.5 billion and is consistently ranked in the top ten in the country for amount of agricultural products sold. Weld county ranks third in the U.S. for value of livestock and 30% of jobs are related to agriculture. The rest of the work force are in small businesses, healthcare, education and government. The energy industry is big in Weld County and still growing. More oil and gas well permits have been approved here than in any other county in Colorado. Weld County is greatly located with wide open plains and perfect for wind-generated electricity production. In a recent report issued by Wells Fargo Securities LLC and information obtained by the U.S. Department of Commerce indicated that Economic growth in Colorado has out paced the nation for the past two years. Strong population growth and a relatively young population have fueled job growth in the state. Colorado`s population is the third fastest growing of any state since 2010, rising a cumulative 6.1 percent. In addition, with a median age of 36.4 years, Colorado is the 12th youngest of all states. The relatively young population has helped fuel urbanization, with the population of the state`s largest metro area, Denver, accounting for more than its fair share of the state`s population growth since 2010.
Weld County has seen the strongest job growth of any county in the country over the past year, with nonfarm payrolls rising 8.9 percent from June 2013 to June 2014, which is the latest data available from the QCEW series. We fear that the recent fall in energy prices may have negative effects on the resources & mining sector, however, and June may be the high-water mark for job growth in this sector. The state`s sizable alternative energy industry may also be in for a dry spell. Lower energy prices make it more difficult for many alternative energy projects to stand on their own, just as many tax incentives are being scaled back. Fortunately, Colorado has an incredibly diverse economy and should be able to weather these changes, even though overall growth will likely slow. Source: U.S. Department of Labor and Wells Fargo Securities, LLC, December 30th, 2014.
About Colorado State Housing: Strong population and employment growth, particularly in high-paying jobs, has supported Colorado`s housing market. Home sales in Colorado were roughly flat from a year ago through the third quarter, compared to the nation, where sales have declined year over year. Single-family sales, however, declined 4.3 percent year over year and sales of condos and townhomes increased 19.4 percent. This is not surprising, given the rapid growth of Colorado`s metro areas and the relatively young population. Young people, particularly in urban environments, tend to live in apartments rather than single-family homes. Home prices have surpassed their prerecession levels in Colorado and now stand 11.2 percent above their prerecession peak. Conversely in the nation, home prices remain 12.4 percent below their prerecession levels. Although home price appreciation has moderated as of late, home prices were still 8.6 percent higher than a year ago in October. In the nation, however, home prices were only 6.1 percent higher. Improving permits data points to continued strengthening in construction activity in the future. It appears that the majority of construction in the multifamily market is in the apartment segment rather than condominiums.
Single-family construction remains well off its pre-recession levels and historical norms. Stronger population growth and improving household formations should drive home sales higher in the coming year and give single-family construction a much needed boost. The growing trend toward urbanization and the state`s relatively young population, however, will likely continue to tilt demand toward rental housing and apartments and continue to play a moderating influence on home purchases. Source: U.S. Department of Commerce, CoreLogic and Wells Fargo Securities, LLC, December 30th, 2014.
ROI proposes this new subdivision on a nine year project in approximately 5 phases, for more than 760 dwelling units, offering a mix of products in order to reach all the market: single family homes, town-homes, duplexes, triplexes, condos, parks and a commercial and retail area. A school is currently under construction immediately adjacent to this property.
Philippe Germain, President stated: "We are particularly excited about this project which represents our initial break through into the Colorado, US market. This 225 acre parcel meets our Company`s business model, thus far offering us additional opportunity to expand into the U.S. market" We will keep abreast our shareholders as developments continue to materialize. About ROI Land Investments Ltd.: ROI Land Investments, Ltd. ("ROI") is a diversified real estate investment company specializing in land development. ROI`s business model consists of acquiring attractive land developments free of zoning restrictions, obtaining the necessary development permits, outsourcing the development of the infrastructure and profiting from the sale of the subdivided land units to known large regional developers. www.roilandinvestments.com SAFE HARBOR AND INFORMATIONAL STATEMENT This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company`s financing plans; (ii) trends affecting the company`s financial conditions or results of operations; (iii): the company`s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not a guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the company`s ability to control, and that actual results may differ materially from those projected in the forward-looking statements, as a result of various factors including the risk disclosed in the company`s statements and reports filed with the OTC Markets. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements. For more information please visit our website: www.roilandinvestments.com Philippe Germain, President T: +1 (514) 667 9470 M: +1 (418) 264 7134 Email:pgermain@roilandinvestments.com
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: ROI Land Investments LTD via GlobeNewswire HUG#1885983
