SAN DIEGO, CALIFORNIA, Aug. 14, 2019 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL) today announced it has signed a Letter of Intent (the "LOI") to acquire roughly one acre of land with the plans and permits for 36 condominiums within the Bajamar Ocean Front Golf Resort.
The Bajamar Ocean Front Golf Resort is a master planned golf community located 45 minutes south of the San Diego-Tijuana Border along the scenic toll road to Ensenada.
The new project, branded "Costa Bajamar Oasis", is planned to include six separate 3-story buildings with one-bedroom and two-bedroom floor plans with prices ranging from $109,000 to $169,000.
The Company expects to complete due diligence and close this transaction, which includes an option for a second phase, with a series of preferred stock in the next 30 days and a target ground breaking by October 1, 2019. Upon completion of the first building, the Company intends to utilize the first unit as a model and sales office for Costa Bajamar Oasis, as well as its Valle Divino and Villas del Enologo properties.
For more information about Costa Bajamar Oasis, please visit: www.ila.company/costa-bajamar
About International Land Alliance, Inc.:
International Land Alliance, Inc. (OTCQB:ILAL) is an international land investment and development firm based in San Diego, California. 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.
Safe Harbor Statement
The press release may include certain statements that are not descriptions of historical facts but are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects," or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.
Jason Sunstein, Vice President at Jason@ila.company or Toll Free: 877.661.4811
Source: International Land Alliance, Inc.