Real Estate News

International Land Alliance Updates Binding Letter of Intent to Acquire Remaining 75% of Rancho Costa Verde Development, LLC

SAN DIEGO, CALIFORNIA, Oct. 26, 2022 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILA” or the “Company”), an international land investment and development firm, is providing an update to the previously announced executed Binding Letter of Intent to acquire the remaining 75% interest in Rancho Costa Verde Development, LLC (“RCV”) for $13,500,000 paid through a new series of the Company’s preferred stock.

Hersha Hospitality Trust Closes the Sale of Hotel Milo Santa Barbara and Pan Pacific Seattle

– Price implies a blended 2.9% cap rate and 27.0x EBITDA multiple on 2019 results and a ~ $455K per key valuation–

– Coupled with the USS-7 sale and pending dispositions, the sale of Hotel Milo and Pan Pacific would increase total sales to nearly $650M in 2022–

– Funds from Sales facilitate Debt repayment of $500M and generate unrestricted cash of approximately $120M–

PHILADELPHIA, Oct.

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