Thugmuffin
2 years ago
$CRDV Community Redevelopment Inc. Fiscal 2021 Year End Financial Highlights Include $18.47 Million Increase in Assets And $1 Million In CashPress Release | 04/05/2022
MIAMI, April 05, 2022 (GLOBE NEWSWIRE) -- Community Redevelopment (OTC: CRDV) ("the Company"), a real estate firm focused on community-oriented development in urban and suburban markets, with an expertise in all aspects of the real estate development life-cycle, today announced consolidated financial results for its Fiscal Year ending December 31, 2021. This is the first public disclosure of the strategic acquisitions undertaken by the company in last year’s fiscal ending December 31st.
Community Redevelopment Year End Highlights
Finalized a Merger Agreement with Red Hills Capital Advisors, LLC
Acquired six properties in the Washington D.C. metropolitan region
Assets increased by $18.47 million
Cash increased by more than $1 million
Charles Arnold, Chief Executive Officer of Community Redevelopment, said, "Fiscal 2021 kicked off our first full year as a public company. We plan to access the capital markets to enhance our ability to address our stated goals for land acquisition and development, planned product expansion, and several large-scale development projects. Market conditions have created exciting opportunities for homebuilders. Community Redevelopment has acquired membership interests in six properties that provide the Company an excellent base to grow from.”
Mr. Arnold added, "Over the last year, we set the stage for advancing our business plan towards becoming an all-inclusive finance and real estate company investing in the future of urban and suburban communities in the U.S."
Summary Fourth Quarter And Year End 2021 Results
Assets: Total Assets increased to $18.47 million for the Fiscal Year ending December 31, 2021. This was attributed to the acquisition of Red Hills Capital Advisors, LLC for shares of the Company’s stock. As a result of this acquisition, the Company has now acquired a portfolio of membership interests in six commercial retail, multifamily and mixed-use properties, in the Washington, D.C. Metro area.
The primary utilization for these properties are retail stores, apartment buildings, and centers which are either owned or held under long-term operating leases.
Community Redevelopment owns membership interests in six properties in the Washington D.C. metropolitan region, which are comprised of retail, multifamily and mixed-use development projects. Our acquisition strategy is based on acquiring quality, well positioned real estate in markets with robust growth and demographics, anchored by strong tenants. The Washington D.C. metropolitan area remains strong as a result of increased government spending. These properties are located in a market that is thriving and generating robust job growth with significant demand for housing.
As disclosed in our Audited Financials, the Company now has over $18.47 million dollars in land acquisitions and is currently holding over $1 million in cash. For the specifics of our year end financial performance, please read Community Redevelopment’s entire Form 10-K Annual Report as filed with the SEC this past Friday https://www.sec.gov/Archives/edgar/data/1084551/000168316822002262/0001683168-22-002262-index.htm.
About Community Redevelopment
Community Redevelopment affords potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, via a publicly traded company. Community Redevelopment Inc. is a full-service real estate company with a management team that has extensive experience in acquiring, developing, constructing, and managing high-quality multifamily, and retail properties in attractive markets throughout the Mid-Atlantic and Southeastern United States, as well as capital markets. The Company is focused on all aspects of the real estate development cycle including land development, design build, property operations, and site redevelopment. In addition to the ownership of our operating property portfolio, Community Redevelopment plans to develop and build desirable properties for its own account and through joint ventures with affiliated and unaffiliated partners.
Community Redevelopment Inc. is focused on community development in urban and suburban markets and our mission is to integrate our proprietary business model by providing sustainable, long-term value to investors as we strive to provide opportunities to improve neighborhoods with residential, commercial, and industrial development projects while designing architecturally pleasing, clean, energy efficient communities and commercial structures. For more information on Community Redevelopment Inc., please contact us at (954) 233-1481, or (800) 210-9438 for those outside of the calling area. You may also visit our website at www.comredev.com.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on November 16, 2021. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Community Redevelopment Inc. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
For Investor Relations, please contact:
David Kugelman
(800) 210-9438 extension 5
(404) 281-8556 Mobile and WhatsApp
Skype: kugsusa
ir@comredev.com
Bonous
2 years ago
Community Redevelopment Inc. Fiscal 2021 Year End Financial Highlights Include $18.47 Million Increase in Assets And $1 Million In Cash
Press Release | 04/05/2022
MIAMI, April 05, 2022 (GLOBE NEWSWIRE) -- Community Redevelopment (OTC: CRDV) ("the Company"), a real estate firm focused on community-oriented development in urban and suburban markets, with an expertise in all aspects of the real estate development life-cycle, today announced consolidated financial results for its Fiscal Year ending December 31, 2021.
This is the first public disclosure of the strategic acquisitions undertaken by the company in last year’s fiscal ending December 31st.
Community Redevelopment Year End Highlights
Finalized a Merger Agreement with Red Hills Capital Advisors, LLC
Acquired six properties in the Washington D.C. metropolitan region
Assets increased by $18.47 million
Cash increased by more than $1 million
Charles Arnold, Chief Executive Officer of Community Redevelopment, said, "Fiscal 2021 kicked off our first full year as a public company. We plan to access the capital markets to enhance our ability to address our stated goals for land acquisition and development, planned product expansion, and several large-scale development projects. Market conditions have created exciting opportunities for homebuilders. Community Redevelopment has acquired membership interests in six properties that provide the Company an excellent base to grow from.”
Mr. Arnold added, "Over the last year, we set the stage for advancing our business plan towards becoming an all-inclusive finance and real estate company investing in the future of urban and suburban communities in the U.S."
Summary Fourth Quarter And Year End 2021 Results
Assets: Total Assets increased to $18.47 million for the Fiscal Year ending December 31, 2021. This was attributed to the acquisition of Red Hills Capital Advisors, LLC for shares of the Company’s stock. As a result of this acquisition, the Company has now acquired a portfolio of membership interests in six commercial retail, multifamily and mixed-use properties, in the Washington, D.C. Metro area.
The primary utilization for these properties are retail stores, apartment buildings, and centers which are either owned or held under long-term operating leases.
Community Redevelopment owns membership interests in six properties in the Washington D.C. metropolitan region, which are comprised of retail, multifamily and mixed-use development projects. Our acquisition strategy is based on acquiring quality, well positioned real estate in markets with robust growth and demographics, anchored by strong tenants. The Washington D.C. metropolitan area remains strong as a result of increased government spending. These properties are located in a market that is thriving and generating robust job growth with significant demand for housing.
As disclosed in our Audited Financials, the Company now has over $18.47 million dollars in land acquisitions and is currently holding over $1 million in cash. For the specifics of our year end financial performance, please read Community Redevelopment’s entire Form 10-K Annual Report as filed with the SEC this past Friday https://www.sec.gov/Archives/edgar/data/1084551/000168316822002262/0001683168-22-002262-index.htm.
About Community Redevelopment
Community Redevelopment affords potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, via a publicly traded company. Community Redevelopment Inc. is a full-service real estate company with a management team that has extensive experience in acquiring, developing, constructing, and managing high-quality multifamily, and retail properties in attractive markets throughout the Mid-Atlantic and Southeastern United States, as well as capital markets. The Company is focused on all aspects of the real estate development cycle including land development, design build, property operations, and site redevelopment. In addition to the ownership of our operating property portfolio, Community Redevelopment plans to develop and build desirable properties for its own account and through joint ventures with affiliated and unaffiliated partners.
Community Redevelopment Inc. is focused on community development in urban and suburban markets and our mission is to integrate our proprietary business model by providing sustainable, long-term value to investors as we strive to provide opportunities to improve neighborhoods with residential, commercial, and industrial development projects while designing architecturally pleasing, clean, energy efficient communities and commercial structures. For more information on Community Redevelopment Inc., please contact us at (954) 233-1481, or (800) 210-9438 for those outside of the calling area. You may also visit our website at www.comredev.com.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on November 16, 2021. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Community Redevelopment Inc. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
For Investor Relations, please contact:
David Kugelman
(800) 210-9438 extension 5
(404) 281-8556 Mobile and WhatsApp
Skype: kugsusa
ir@comredev.com
Thugmuffin
2 years ago
$CRDV Community Redevelopment Targets Rapid Growth Through Its RedRock and Mosaic SubsidiariesPress Release | 03/01/2022
MIAMI, March 01, 2022 (GLOBE NEWSWIRE) -- Community Redevelopment (OTC: CRDV) ("the Company"), a developer of community oriented real estate in urban and suburban markets with a focus on all aspects of the real estate development life-cycle, announced today plans to locate, upgrade, and market properties through its RedRock Real Estate Investment LLC and Mosaic Development subsidiaries. The Company will be 100% focused on acquiring moderate to high-end residential and multifamily properties that can be infilled, expanded, or are capable of supporting an Accessory Dwelling Unit (ADU). Community Redevelopment will initially target the fast-growing South Florida market, where there is currently a housing shortage and an abundance of properties that can be re-developed.
Brent Coetzee, seasoned real estate entrepreneur and President of Community Redevelopment’s RedRock Real Estate Investment LLC subsidiary, said, “The joint effort between RedRock and Mosaic exists to take advantage of marketing trends as demand outpaces supply. Many older neighborhoods with great schools and amenities that are close to shopping, entertainment, and major centers of employment have large lots with smaller homes that can be significantly expanded.” Mr. Coetzee continued, “The best way to describe this is future land planning. In many communities, over the last five years a large number of development approvals have been for these types of projects. The communities we are targeting already have all of the ingredients that make them a great place to live. In many ways it’s more efficient, since existing water, sewer, streets, and transit routes are already there.”
A recent article in Mansion Global clearly defined the South Florida real estate market by saying, “Across South Florida, listing prices for high-end homes shot up around 14% between 2020 and 2021, according to Realtor.com data. The median cutoff price for South Florida’s luxury segment—defined as the top 5% by list price in Miami-Dade, Broward and Palm Beach counties—was $2.93 million through November 2021. Meanwhile, housing stock in the luxury tier plummeted, with the number of available homes asking over $1 million declining 26.1% in one year.”
Community Redevelopment’s plans call for building within unused and underutilized lands within existing development patterns, typically but not exclusively in urban areas. The Company believes this type of development is critical to accommodating growth and redesigning our cities to be environmentally- and socially-sustainable. Community Redevelopment offers investors an opportunity to participate in the growth and upside of trends in the real estate market by being a shareholder. As an owner of shares of common stock, investors experience significantly increased liquidity as compared to owning real estate.
Myron Jones, Head of Development for Community Redevelopment, said, "Developers are seeing significant opportunity when it comes to acquiring and repurposing sustainable, moderate to high-end residential and multifamily assets that can be expanded as a means of increasing the intrinsic value of the property. Community Redevelopment essentially has two opportunities for revenue. The first opportunity is by forcing appreciation and increasing equity in the property. The second opportunity would be through the generation of revenue if, or when, RedRock Real Estate Investment LLC should decide to sell the property.”
The Company expects to have both the RedRock Real Estate Investment and Mosaic Development entities created by the end of the first quarter of 2022.
About Community Redevelopment
Community Redevelopment affords potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, via a publicly traded company. Community Redevelopment Inc. is a full-service real estate company with a management team that has extensive experience in acquiring, developing, constructing, and managing high-quality multifamily, and retail properties in attractive markets throughout the Mid-Atlantic and Southeastern United States, as well as capital markets. The Company is focused on all aspects of the real estate development cycle including land development, design build, property operations, and site redevelopment. In addition to the ownership of our operating property portfolio, Community Redevelopment plans to develop and build desirable properties for its own account and through joint ventures with affiliated and unaffiliated partners.
Community Redevelopment, Inc. is focused on community development in urban and suburban markets and our mission is to integrate our proprietary business model by providing sustainable, long-term value to investors as we strive to provide opportunities to improve neighborhoods with residential, commercial, and industrial development projects while designing architecturally pleasing, clean, energy efficient communities and commercial structures. For more information on Community Redevelopment Inc., please contact us at (954) 233-1481, or (800) 210-9438 for those outside of the calling area. You may also visit our website at www.comredev.com.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on November 16, 2021. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Community Redevelopment Inc. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
For Investor Relations, please contact:
David Kugelman
(800) 210-9438 extension 5
(404) 281-8556 Mobile and WhatsApp
Skype: kugsusa
ir@comredev.com
AskMuncher
2 years ago
$CRDV Community Redevelopment Announces Launch of New Division - Mosaic Homes
Press Release | 02/15/2022
MIAMI, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Community Redevelopment (OTC: CRDV) ("the Company"), a developer of community oriented real estate in urban and suburban markets with a focus on all aspects of the real estate development cycle, announced today that it has launched its new division, Mosaic Homes and signed a LOI for a residential redevelopment joint venture in Biscayne Park, FL. A LOI for a second project is currently under negotiation, and Community Redevelopment is in talks for a LOI on a third project.
The launch of Mosaic Homes by Community Redevelopment is another step toward the Company’s mission. Mosaic Homes will build or rehabilitate for-sale single family, townhomes, and condominium residential properties with an eye toward inspired sustainability. The Company will be working toward acquiring infill lots to build or to renovate properties with a focus on sustainable improvements.
For the Company’s first project, in conjunction with its joint venture partner, it will acquire the property in Biscayne Park and undertake development and construction work as is necessary to sell the upgraded single-family property upon the end of the investment period. Mosaic Homes will be responsible for all development activities.
Biscayne Park has a median property value of $457,300 in 2019, which is 1.9 times larger than the national average of $240,500. Between 2018 and 2019, the median property value increased from $405,700 to $457,300, a 12.7% increase. Biscayne Park is a triangular-shaped residential neighborhood just north of Miami Shores. Founded in the 1920’s by Arthur Griffing, who was the landscape architect for the famous Carl Fisher, this area has been one of Miami’s best kept secrets. As a result of its close proximity to Miami, this community with beautiful tree lined streets is seeing a revitalization as potential residents see the beauty in the traditional modern Miami homes of Biscayne Park.
Community Redevelopment offers investors an opportunity to participate in the growth and upside of trends in the real estate market by being a shareholder. As an owner of shares of common stock, investors experience significantly increased liquidity as compared to owning real estate.
Myron Jones, Head of Development for Community Redevelopment, said, "This residential redevelopment joint venture is the first of what could be many for Mosaic Homes. For our Company, we acquire equity in the project and each project chosen will have very strong upside potential as well as will improve the sustainability and help enhance the neighborhoods where we are investing. We chose Biscayne Park for our first project under Mosaic Homes, as a result of its green history, close proximity to Miami, and the rapid growth in its real estate market. This residential redevelopment project is basically a template for future projects wherever we see opportunity to make an impact."
About Community Redevelopment
Community Redevelopment affords potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, via a publicly traded company. Community Redevelopment Inc. is a full-service real estate company with a management team that has extensive experience in acquiring, developing, constructing, and managing high-quality multifamily, and retail properties in attractive markets throughout the Mid-Atlantic and Southeastern United States, as well as capital markets. The Company is focused on all aspects of the real estate development cycle including land development, design build, property operations, and site redevelopment. In addition to the ownership of our operating property portfolio, Community Redevelopment plans to develop and build desirable properties for its own account and through joint ventures with affiliated and unaffiliated partners.
Community Redevelopment, Inc. is focused on community development in urban and suburban markets and our mission is to integrate our proprietary business model by providing sustainable, long-term value to investors as we strive to provide opportunities to improve neighborhoods with residential, commercial, and industrial development projects while designing architecturally pleasing, clean, energy efficient communities and commercial structures. For more information on Community Redevelopment Inc., please contact us at (954) 233-1481, or (800) 210-9438 for those outside of the calling area. You may also visit our website at www.comredev.com.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on November 16, 2021. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Community Redevelopment Inc. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
For Investor Relations, please contact:
David Kugelman
(800) 210-9438 extension 5
(404) 281-8556 Mobile and WhatsApp
Skype: kugsusa
ir@comredev.com
AskMuncher
2 years ago
$CRDV Community Redevelopment Announces Its Qualification of a Regulation A+ Public Stock Offering
Press Release | 02/03/2022
MIAMI, Feb. 03, 2022 (GLOBE NEWSWIRE) -- Community Redevelopment (OTC: CRDV) ("the Company"), a developer of community oriented real estate in urban and suburban markets with a focus on all aspects of the real estate development cycle, today announced that it has been qualified by the Securities and Exchange Commission (SEC) to list a $25 million exempt public stock offering using the Regulation A+ Tier 2 framework. Reg A+ allows companies to offer shares to the general public and not just accredited investors. The net proceeds of the offering will be used to accelerate the development and distribution of Community Redevelopment's community centric real estate projects in the Mid Atlantic, South East, and Gulf Coast states markets.
In addition to developing communities where families live, work and play, in 2022 Community Redevelopment plans to launch a property management division, and a full service, in-house real estate brokerage in the Miami Metropolitan Area with a commercial & residential division.
“While we have raised money from friends and family as well as institutional investors; our commitment to the unaccredited investor is still preeminent. As such we have invested tremendous time, energy and resources to file a “Reg A +” registration statement with the SEC, which allows small, normally “unaccredited” investors the right to invest in equities they are normally shut out of,” said Charles Arnold, Chief Executive Officer of Community Redevelopment. “Our executive officers have over 180 years of experience in start-ups, real estate, and finance and the Board of Directors is comprised of individuals who have had tremendous success in their business and political endeavors. We are very passionate about democratizing investment opportunities so any investor can reap the rewards, and take all of the risks of early investment in game-changing companies.”
About Community Redevelopment
Community Redevelopment affords potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, via a publicly traded company. Community Redevelopment Inc. is a full-service real estate company with a management team that has extensive experience in acquiring, developing, constructing, and managing high-quality multifamily, and retail properties in attractive markets throughout the Mid-Atlantic and Southeastern United States, as well as capital markets. The Company is focused on all aspects of the real estate development cycle including land development, design build, property operations, and site redevelopment. In addition to the ownership of our operating property portfolio, Community Redevelopment plans to develop and build desirable properties for its own account and through joint ventures with affiliated and unaffiliated partners.
Community Redevelopment, Inc. is focused on community development in urban and suburban markets and our mission is to integrate our proprietary business model by providing sustainable, long-term value to investors as we strive to provide opportunities to improve neighborhoods with residential, commercial, and industrial development projects while designing architecturally pleasing, clean, energy efficient communities and commercial structures. For more information on Community Redevelopment Inc., please contact us at (954) 233-1481, or (800) 210-9438 for those outside of the calling area. You may also visit our website at www.comredev.com.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on November 16th, 2021. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Community Redevelopment Inc. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
For Investor Relations, please contact:
David Kugelman
(800) 210-9438 extension 5
(404) 281-8556 Mobile and WhatsApp
Skype: kugsusa
ir@comredev.com
Bonous
2 years ago
Community Redevelopment Issues Shareholder Letter and Provides Corporate Update
Press Release | 01/27/2022
MIAMI, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Community Redevelopment (OTC: CRDV) ("the Company"), a developer of community oriented real estate in urban and suburban markets with a focus on all aspects of the real estate development cycle, today issued a letter to shareholders from its Chief Executive Officer, Charles Arnold.
Dear Fellow Shareholders,
Our mission at Community Redevelopment is that we are committed to sustainable community development constructing high-quality mixed-use, multifamily residential, and commercial properties in culturally diverse markets. Over the last year, we’ve made significant strides toward achieving that mission, and now find ourselves transitioning to an all-inclusive finance and real estate company investing in the future of urban and suburban communities in the U.S. and abroad.
Why Community Redevelopment is Important
Before I discuss the milestones Community Redevelopment achieved in 2021, I would like to provide a reminder of the problem we are targeting and our mission to impact it. At its core, the problem is simple – with recent studies showing rising levels of income inequality in the United States, the question of economic mobility has become increasingly more important. Community Redevelopment can help impact economic mobility by focusing on partnerships between the public and private sector to generate both business interest and business activity in low-income neighborhoods that have gone unnoticed by the development community at large, while repairing and amending relationships in these underserved communities. Our Company intends to work with other real estate developers, as well as local and state government agencies to implement the community’s vision for our projects. We are confident in our ability to deliver community centric projects because we have built a team that understands the challenges facing underserved communities from living and working in them.
Corporate Actions and Key Executive Appointments
We began 2021 with a motivated team in place making preparations to implement our business plan. In the first quarter we became a fully reporting company when we filed a Registration Statement, including audited financial statements for the years ended December 31, 2018 and December 2019, with the U.S. Securities and Exchange Commission to register Community Redevelopment's common stock under the Securities Exchange Act of 1934. By becoming an SEC reporting company, we not only demonstrate our continued commitment to transparency and communication, but provide a valuable means of insight for our shareholders. By midyear we announced an independent Board of Directors, a Compensation Committee, and an independent Audit Committee, by electing Joe Gibbons and Randy Avon to both. Mr. Gibbons is a technology executive and previous elected official, while Mr. Avon is an international trade executive who previously owned am investment banking firm. Both men continue to add a wealth of information to Community Redevelopment’s board.
As we built out our board and executive leadership team for future growth, we appointed Garfield Antonio as President of Community Redevelopment, and to our Board of Directors. Mr. Antonio is a highly acclaimed, award winning minority real estate executive who has developed in excess of two million square feet of construction throughout his career. He is the co-founder of The Velocity Companies a leading Real Estate Development Company headquartered in Washington DC, as well as a minority owner of the Gastonia Honey Hunters, an Atlantic League Minor League Baseball team. Mr. Antonio has more than 30 years of experience in banking, financing, and real estate development where he specializes in apartments and commercial real estate development that requires an understanding of Municipal Financing, Tax Incentive Financings (TIFs), Tax Exempt Bonds, Private Placement Bond Financing, Planned Community Developments, and pioneering emerging markets. We began 2022 with a world-class team in place as we set the stage for continued operational momentum and expansion.
Commercial Property Acquisitions
In the third quarter Community Redevelopment executed a Merger Agreement through which it acquired a portfolio of membership interests in six commercial retail, multifamily and mixed-use properties, in the Washington, DC Metro area. The properties are comprised of retail, multifamily and mixed-use development projects, and were in line with our acquisition strategy of acquiring quality, well positioned real estate in markets with robust growth and demographics, anchored by strong tenants. The Washington D.C. metropolitan area remains strong as a result of increased government spending. These properties are located in a market that is thriving and generating robust job growth with significant demand for housing.
We anticipate acquiring several properties and expanding into other markets. Community Redevelopment Inc. is currently seeking additional opportunities in the Mid Atlantic, South East, and Gulf Coast states markets. Community Redevelopment’s business model creates a tremendous advantage in the marketplace, while providing long-term value. Our ability to acquire and develop single and multi-family rental properties that can either be held by us, or sold to regional and national companies, further strengthens our market standing. We believe our strategy of working with federal, state, and local governments, as well as community leaders and other developers in our principal geographic areas and our targeted areas for expansion will provide us with a diverse product portfolio and an opportunity to increase our overall market share and value
Our Shared Future and Final Words
Moving forward in 2022, we plan to aggressively pursue the acquisition, development, constructing, and management of high-quality multifamily, and retail properties in attractive markets throughout the Mid-Atlantic and Southeastern United States. Our plans call for significantly contributing to our targeted communities by providing a comprehensive neighborhood plan that includes public green space, high-quality housing, neighborhood supporting retail, and local job creation. Community Redevelopment recently embarked on its first Reg A offering to support our 2022 business plan. More information on our Reg A can be found on Community Redevelopment’s website at www.comredev.com.
In 2022 Community Redevelopment plans to open, a property management division, an investment asset management division, and a full service, in-house real estate brokerage in the Miami Metropolitan Area with a commercial & residential division. The newly formed brokerage will specialize in residential sales and providing commercial real estate investment services to maximize value for clients. The mission of Community Redevelopment’s brokerage will be to ensure that the entire process of acquiring, selling, and leasing real estate is positive for all parties involved: Buyers, Sellers, and Realtors. Community Redevelopment plans to provide expertise in the areas of acquisition and disposition of multifamily, mixed-use, retail, land, and office assets as well as for-sale residential (single-family homes, townhomes, vacation homes, and condominiums).
Real estate in Miami-Dade County continued to post record results as December 2021 was the best sales month in history. During the month of December, we saw many records fall, such as the most all-time annual total home sales, highest annual total dollar volume, most single-family home sales, and most condo transactions, according to the MIAMI Association of Realtors and the Multiple Listing Service system. Not only was December strong, we saw 49% more sales and 103% more-dollar volume in 2021 than in 2020. We believe 2022 will see more global companies relocating to Miami and more people moving from high-tax, high density cities, which will bode well for our real estate brokerage and development businesses.
Our diverse team is our strength. As a result, we actively promote diversity and inclusion in all our projects by ensuring minority, women-owned, and small business participation in our industry. In 2021, we announced our firm commitment to sustainability and corporate responsibility, and we believe non-financial factors, such as environmental, social, and governance are a major part of identifying material risks and growth opportunities.
We look forward to sharing our accomplishments in the coming year as we strive to create value for our customers, shareholders, employees and communities – and we thank all our stakeholders for their support of our mission.
Sincerely,
Charles Arnold
Chief Executive Officer
About Community Redevelopment
Community Redevelopment affords potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, via a publicly traded company. Community Redevelopment Inc. is a full-service real estate company with a management team that has extensive experience in acquiring, developing, constructing, and managing high-quality multifamily, and retail properties in attractive markets throughout the Mid-Atlantic and Southeastern United States, as well as capital markets. The Company is focused on all aspects of the real estate development cycle including land development, design build, property operations, and site redevelopment. In addition to the ownership of our operating property portfolio, Community Redevelopment plans to develop and build desirable properties for its own account and through joint ventures with affiliated and unaffiliated partners.
Community Redevelopment, Inc. is focused on community development in urban and suburban markets and our mission is to integrate our proprietary business model by providing sustainable, long-term value to investors as we strive to provide opportunities to improve neighborhoods with residential, commercial, and industrial development projects while designing architecturally pleasing, clean, energy efficient communities and commercial structures. For more information on Community Redevelopment Inc., please contact us at (954) 233-1481, or (800) 210-9438 for those outside of the calling area. You may also visit our website at www.comredev.com.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on May 17th, 2021. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Community Redevelopment Inc. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
For Investor Relations, please contact:
David Kugelman
(800) 210-9438 extension 5
(404) 281-8556 Mobile and WhatsApp
Skype: kugsusa
ir@comredev.com
https://www.otcmarkets.com/stock/CRDV/news/Community-Redevelopment-Issues-Shareholder-Letter-and-Provides-Corporate-Update?id=341038
AskMuncher
2 years ago
$CRDV Community Redevelopment Continues Expansion; Signs LOI To Acquire An Upscale Residential Development Property In The Orlando Suburb Of Gotha, Florida
Press Release | 01/24/2022
MIAMI, Jan. 24, 2022 (GLOBE NEWSWIRE) -- Community Redevelopment (OTC: CRDV) ("the Company"), a developer of community oriented real estate in urban and suburban markets with a focus on all aspects of the real estate development cycle, announced today that it has signed a Letter of Intent (LOI) to acquire 100% of an upscale 14.48-acre residential parcel in the heart of Orlando. CV Inc., an engineering firm focused on sustainable and innovative solutions to the real estate industry, played a key role in sourcing the property for Community Redevelopment.
The Company expects to execute the definitive agreements during the first quarter of 2022 with closing occurring in the 1st quarter of 2023. As a result, Community Redevelopment will add millions of dollars in real estate assets to its balance sheet. Community Redevelopment will provide deposit to the seller, which shall be credited toward the purchase price at closing.
Community Redevelopment offers investors an opportunity to participate in the growth in the real estate market by being a shareholder. As an owner of shares of common stock, investors experience significantly increased liquidity as compared to owning real estate.
Chinmay Vyas, PE, CFM, LEED, President and CEO of CV, Inc., who worked closely with Garfield Antonio of Community Redevelopment to finalize the land deal, said, "I have provided engineering services to Garfield’s real estate transactions for almost a decade. During this time, I have realized Garfield brings a strong sense of ethics and commitment to the communities he develops. I look forward to seeing this piece of property being developed as a signature statement by Community Redevelopment."
Garfield Antonio, President of Community Redevelopment, said, "We are confident in Florida’s residential market as we believe it will continue to see strong growth over both the short and long term. Supply constraints in existing residential real estate along with rising construction costs for new product will continue to drive both home prices and rental rates upwards across the board. This 14.48-acre parcel is a high quality, well-maintained property with tremendous development capabilities. Community Redevelopment is continuing to set the stage to expand our footprint of highly-functional, well-located properties in attractive markets throughout the Mid-Atlantic and Southeastern United States."
About Community Redevelopment
Community Redevelopment affords potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, via a publicly traded company. Community Redevelopment Inc. is a full-service real estate company with a management team that has extensive experience in acquiring, developing, constructing, and managing high-quality multifamily, and retail properties in attractive markets throughout the Mid-Atlantic and Southeastern United States, as well as capital markets. The Company is focused on all aspects of the real estate development cycle including land development, design build, property operations, and site redevelopment. In addition to the ownership of our operating property portfolio, Community Redevelopment plans to develop and build desirable properties for its own account and through joint ventures with affiliated and unaffiliated partners.
Community Redevelopment, Inc. is focused on community development in urban and suburban markets and our mission is to integrate our proprietary business model by providing sustainable, long-term value to investors as we strive to provide opportunities to improve neighborhoods with residential, commercial, and industrial development projects while designing architecturally pleasing, clean, energy efficient communities and commercial structures. For more information on Community Redevelopment Inc., please contact us at (954) 233-1481, or (800) 210-9438 for those outside of the calling area. You may also visit our website at www.comredev.com.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on May 17th, 2021. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Community Redevelopment Inc. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
For Investor Relations, please contact:
David Kugelman
(800) 210-9438 extension 5
(404) 281-8556 Mobile and WhatsApp
Skype: kugsusa
ir@comredev.com
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