Message #35 From:
NewsBot Date: January 11, 2007 08:12:00 AM
CBAY News Cal-Bay Announces Scheduled Closing Date for Second Las Vegas, Nevada Residential Property Portfolio
CARLSBAD, Calif.--(BUSINESS WIRE)--Cal-Bay International, Inc. (OTCBB:CBAY) announces the company plans to
close the acquisition of the second Las Vegas residential property
portfolio by the end of January 2007.
The properties are primarily located on the rapidly expanding SW side of
Las Vegas, Nevada.
This acquisition will bring the number of residential properties in
Cal-Bay's Las Vegas portfolio to over 100 homes, with a current market
value in excess of $40M. The company’s rental
revenue from the combined properties is expected to be in the range of
$1.4M annually.
Cal-Bay is currently in negotiations for several other Residential and
Commercial development properties in the Las Vegas area.
FORWARD-LOOKING SAFE HARBOR STATEMENT: To the extent that this
release discusses any expectations concerning future plans, financial
results or performance, such statements are forward-looking within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities and Exchange Act of 1934, as amended, and
are subject to substantial risks and uncertainties. Actual results could
differ materially from those anticipated in the forward-looking
statements. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof and
reflect only management's belief and expectations based upon presently
available information. These statements, and other forward-looking
statements, are not guarantees of future performance and involve risks
and uncertainties.
The Company assumes no obligation to update any of the
forward-looking statements in this release.
