Today Metrospaces, Inc. (OTC PINK: MSPC), (PINKSHEETS: MSPC), a real estate investment and development company focused on building & reselling condominiums and Luxury High-End Hotels, principally in urban areas of Latin America, is happy to announce that it has acquired the Coche Island hotel project located in Coche Island, Venezuela.
Metrospaces has recently acquired a 50% stake in this exceptional 28-villa luxury hotel and spa. The company has an option to acquire an additional 10% from current shareholders. This destination hotel will have 28 luxury villas of 680ft2 of space, each unit will have its own Jacuzzi and kitchen made for gourmet dinners specially ordered by our guests. This project will be aimed at the luxury destination segment with forecasted room rates of $300 per night.
“This represents an amazing testament to our ability to drive value by finding amazing hotel development opportunities and being able to capitalize on them. We have hit the ground running on this project and are looking to have permits renewed and bank financing approved by 1Q of 2015”, Mr. Brito said. “This will be our second hotel project in Venezuela in only 9 months. We certainly expect to be able to continue to find exceptional hotel investment and development deals in the region”.
VISUAL PRESENTATION DOWNLOAD LINK ON TULASIR VILLA SPA AND HOTEL:
VISUAL PRESENTATION ON ORINOCO HOTEL PROJECT LINK:
For more information about Coche Island, please see:
Metrospaces www.metrospaces.net is a publicly traded real estate investment and development company which acquires land, designs, builds, develops, and 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.
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 Americas and across Europe, valued in excess of US $350Million.
Metrospaces’ majority shareholders have partnered with Investors on Elite properties, including The London BVLGARI 5 Star Hotel, and is 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.
SOURCE: Metrospaces, Inc.