Real Estate Veteran Joins Company Following Acquisition of Minority Interest in Rancho Costa Verde Development
SAN DIEGO, CALIFORNIA, May 17, 2021 (GLOBE NEWSWIRE) — International Land Alliance, Inc. (OTCQB:ILAL), (“ILA” or the “Company”), an international land investment and development firm, has appointed Frank Ingrande as President. Mr. Ingrande joins the Company from Rancho Costa Verde Development, LLC (“RCV”), a profitable developer of a 1,100-acre, 1,200-lot master planned community in Baja California. Concurrent with Mr. Ingrande’s appointment, the Company closed a 25% interest investment in RCV, which is located roughly 8 km north of ILA’s Oasis Park Resort, in a combination of cash and stock for a total of $4,000,000.
“I am pleased to announce the appointment of Frank to our senior management team,” said Roberto Valdes, Chairman & Chief Executive Officer of ILA. “His extensive experience in real estate sales and development in the northern Baja California region will prove to be invaluable as we execute on our operating strategy across our properties. Additionally, by closing on the ownership position in RCV we will have access to expanded sales and marketing resources, while the profitable development serves as an exceptional complement to our real estate portfolio.”
“Given my tenured experience in Baja California’s residential real estate industry, I am well-acquainted with the ILA team and am impressed with the portfolio they have built,” said Frank Ingrande, President of ILA. “Over the last two decades, the RCV team, including myself and co-partners Robert Rios and Michael Cresci, has built a deep network of affiliates throughout California and Baja by selling over $500 million of residential assets. I look forward to working closely with Roberto, Jason, and the ILA team to serve the flourishing demand in the region for luxury homes equipped with cutting-edge, sustainable technology.”
Mr. Ingrande currently serves as President of Rancho Costa Verde Development, LLC, which he co-founded in 2008. He holds a BBA in Finance and an MBA with an emphasis in new venture management & international business from the University of San Diego.
Rancho Costa Verde is a 1,100 acre master planned second home, retirement home, and vacation home real estate community located on the east coast of Baja California, Mexico. It is just south of the small fishing village of San Felipe which is home to over 6,000 retired US citizens. Rancho Costa Verde is a self-sustained solar powered green community that takes advantage of the advances in solar and other green technology. The beachfront location, close proximity to the mountains, and natural topography at Rancho Costa Verde has created breathtaking 180-degree sea and mountain views from almost every home. Rancho Costa Verde offers 1/4-acre home sites starting as low as $22,500 and custom home construction from $82 per square foot.
For more information on RCV, please visit www.ranchocostaverde.com.
About International Land Alliance, Inc.:
International Land Alliance, Inc. (OTCQB:ILAL) is an international land investment and development firm based in San Diego, California. As its’ core mission, the Company has embraced technology for sustainable and socially responsible solutions, in addition to using proptech and construction tech advanced applications to meet these goals. The Company is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The Company serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.
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CONTACT:
Investor Relations:
Brooks Hamilton
MZ Group – MZ North America
(949) 546-6326
ILAL@mzgroup.us
www.mzgroup.us