International Land Alliance Provides Corporate Update on Portfolio Developments and Business Operations
SAN DIEGO, CALIFORNIA, Sep. 28, 2021 — International Land Alliance, Inc. (OTCQB:ILAL), (“ILA” or the “Company”), an international land investment and development firm, today provided a corporate update on its property portfolio, business operations, and capital markets initiatives.
Recent Company Highlights:
- Appointed Northern Baja California real estate veteran Frank Ingrande as President, concurrent with ILA’s minority interest acquisition in Rancho Costa Verde development.
- Executed residential plot sales agreements for its Valle Divino project and accepted reservations for home sales for its Plaza Bajamar project. A master bank trust is in process of creation to provide ILA the rights and interest to each property, which will allow the Company to record revenue from its Valle Divino and Plaza Bajamar projects, as sales are made, and individual trusts are established for each buyer. The Company expects to have this trust established by the end of its fourth fiscal quarter.
- Partnered with CleanSpark, Inc. to successfully deploy a microgrid on ILA’s model home at Plaza Bajamar, and established plan to outfit all units at the property, as well all units at ILA’s Valle Divino development, with solar microgrid installations.
- Resumed construction and service work at Oasis Park Resort for Phase I of the project, with over $60 million in anticipated gross lot sales. Resumed construction includes new entrance, main access road, clubhouse and model home.
- Commenced a construction financing fund to provide flexible financing solutions for homesite construction to selected qualified owners.
- Reopened its newly renovated event center at its Emerald Grove Estates property in Southern California. ILA sold a vacant 20-acre parcel of the property for approximately $630,000, with a significant return on investment for one-fourth of the 80-acre property that ILA originally purchased for $1.1 million. A recent appraisal valued the property at $3.1M.
- Continued efforts to strengthen balance sheet by acquiring a minority stake in Rancho Costa Verde, a 1,100-acre master planned community; closing a $2.0 million private placement with a single institutional investor; and paying off a $500,000 in bridge loan.
“2021 has been an important year for ILA, highlighted by continued progress across our portfolio of properties, and a strengthened balance sheet to further propel that momentum,” said Roberto Valdes, Chairman & Chief Executive Officer of ILA. “We successfully raised $2 million which we are utilizing for construction, sales and marketing at each of our development projects in Mexico, expecting a high return on capital due to geographic arbitrage.
“Our Rancho Costa Verde property has experienced better than expected sales since our acquisition of 25% interest in the development. We have taken steps to optimize our sales and marketing expenses at the property, which have decreased significantly when compared to historical expenditures, and we are implementing similar strategies across the ILA portfolio of properties.
“At Plaza Bajamar, located within the internationally renowned Bajamar Ocean Front Hotel and Golf Resort, our partnership with CleanSpark is a key differentiator for our community with sustainable, advanced solar-plus-storage power solutions. We are now moving to the next phase in which we will provide all units in the community with solar microgrid installations, which will be supported by our software solutions. CleanSpark’s innovative microgrid solutions will also power our model home and amenities at Valle Divino, which we are commencing construction at in the fourth quarter of 2021. We are excited to see these innovative proptech solutions materialize at our properties, which we believe will drive demand as we progress with our sales strategy going forward,” concluded Valdes.
“We have been moving quickly on our operational and strategic initiatives since I joined ILA earlier in the quarter,” said Frank Ingrande, President of ILA. “At Oasis Park Resort, we have already pre-sold 75 of the 1,344 planned residential lots at the community to initial stakeholders. We resumed Phase I construction at Oasis Park in June, and have now begun Phase II construction.
“With a fortified balance sheet and robust pipeline of attractive acquisition opportunities, we are enabled to make significant advancements on our operational strategy and ultimately drive sustainable long-term value for our shareholders. We continue to innovate and achieve our sales goals across our portfolio of properties, and I look forward to sharing our continued progress in the months ahead,” concluded Ingrande.
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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