CPP

CapGain Properties Inc. (TSX VENTURE:CPP) is pleased to announce that its
wholly-owned subsidiary, CapGain Holdings Inc. ("CapGain") has closed upon its
acquisition of a 45.36% interest in the entity Orlando MF Partners LLC ("Orlando
MF Partners"), which is a single purpose entity whose sole asset are the
properties located at 1200 West Holden Avenue, Orlando, Florida and 4855 South
Orange Blossom Trail, Orlando, Florida (the "Properties"). The final purchase
price paid by Orlando MF Partners for the Properties was $10,373,301. In
addition to the Properties, $300,000 of cash reserves was acquired, bringing the
net purchase price to $10,073,301. 


The Properties are adjacent to one another and are an extended stay hotel with
140 rooms and an apartment complex with 110 units and were appraised by
Whitewater Realty Advisors, LLC. Their report states that as of June 5, 2013 the
Properties are worth $13,100,000. The Properties have $7,220,768 worth of debt
currently secured against them, and there is accordingly, $5,879,232 worth of
equity in the Properties. Through CapGain's interest in the owning entity,
CapGain has realized $2,666,820 of equity. It is anticipated the Properties will
generate, before debt service, $1,300,000 to $1,700,000 of net operating income
annually, 45.36% of which CapGain will realize. Furthermore, CapGain is
currently negotiating an option to acquire additional ownership interest in
Orlando MF Partners.


Dollar amounts referenced herein are in United States currency.

About CapGain

CapGain is an investment company that is focused on the acquisition of income
producing real property in select markets in the United States. The Company's
management and expertise within the real estate and finance industries allow it
to acquire properties at significantly below market value. 


Additional information on CapGain may be accessed through the TMX website
(www.tmx.com) and the SEDAR website (www.sedar.com) under the profile for
CapGain.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that
term is defined in the Policies of the TSX Venture Exchange) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of
applicable legislation. All statements included in this report and the documents
that we incorporate by reference, are forward-looking statements and can
generally be identified by words such as "will," "allow," "outlook," or the
negative of these terms, and other comparable terminology. 


Various risks and other factors could cause actual results, and actual events
that occur, to differ materially from those contemplated by the forward looking
statements, such as whether CapGain is able to meet price, performance, quality
and delivery requirements. Although CapGain believes that the expectations
represented by any forward-looking statements and forward-looking information
contained herein are reasonable based on the information available to them on
the date of this document, management cannot assure investors that actual
results, performance or achievements will be consistent with these
forward-looking statements or forward-looking information. CapGain undertakes no
obligation to update the information in this press release to reflect events or
circumstances after the date hereof or to reflect the occurrence of anticipated
or unanticipated events.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CapGain Properties Inc.
Brian Knight
Chief Executive Officer
(847) 854-4213
bknight@capgain.ca

CapGain Properties Inc. (TSXV:CPP)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

CapGain Properties Inc. (TSXV:CPP)
Historical Stock Chart
Von Jun 2023 bis Jun 2024