posted
With 2 Large PR's out the last 2 days adn a nice chart, were ready to go!
Cal-Bay International Property Portfolio to Increase to Over $43M as Company Signs $20M Contract for Purchase of Additional 400+ Homes Monday April 10, 8:00 am ET
CARLSBAD, Calif.--(BUSINESS WIRE)--April 10, 2006--The Board of Directors of San Diego-based Cal-Bay International, Inc. (OTCBB:CBAY - News) today announced the Company entered into a purchase contract for a 400+ homes package in Columbus, Ohio. ADVERTISEMENT
Cal-Bay International's Chief Operations Officer announced the news after the Board of Directors confirmed the company had entered into a purchase agreement for the acquisition of the homes.
The latest acquisition will increase the company's portfolio to over 450 properties in the USA and increase the company's real estate holdings to over $43M.
The terms of the contract require non-disclosure at this time, but the company expects the acquisition to be completed on or before May 31st, 2006.
The properties are all single family homes of which the majority are currently rented. Upon closing, this would add an additional $3.2M+ per year to the company's revenue stream.
The company is currently in negotiations for several additional properties in the Pacific Coast region.
Forward-Looking Safe Harbor Statement
Cal-Bay Announces Development Plans for Luxury Condominiums on Company's Downtown San Franciso, California, Property Thursday April 6, 4:05 pm ET
SAN DIEGO--(BUSINESS WIRE)--April 6, 2006--Cal-Bay International, Inc. (OTCBB:CBAY - News) announces plans for the development of 12 luxury condominiums on the company's downtown property. ADVERTISEMENT
Cal-Bay's Board of Directors today announced the company has initiated the process for the planning and development of 12 luxury condominiums on the company-owned 9th street property in downtown San Francisco, California.
The development is expected to yield over $10.5M upon completion which should add over $4M to the company's bottom line within the next 12 months.
The property is located in one of San Francisco's premium downtown redevelopment areas within blocks of the new ballpark. Cal-Bay purchased the San Francisco property earlier this year for $2.65M. Newly constructed adjacent condominium properties are currently being marketed in the range of $1400 per square foot.
posted
I keep reading more and more news, and hearing about more and more growth and revenues... BOTTOM PLAY>>> don't miss this double up oppurtunity soon...
quote:Originally posted by adlai: Indef... I think you got the wrong symbol there bud... do your dd...
Adlai_
oops... you're right... did too much DD... lots of talking about CBAY on HSM and HUB... still not sure that these groups could bring enough volume - will see on Monday... By the way - count me in...
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Just wanted to add here that CBAY is opening a real estate division in May of this year... less than a month... more revenue, stock is going to continue the rise...
posted
Just put in my order for tomorrow, I'm going to try and get in tommorrow at .29... fingers crossed...
With all the weekend hype and last weeks fall... I see this thing spiking through the first of this week... steady climbs through may guys... don't miss this one... read the chart then the news...
posted
Well Im in on this at opening bell. Hope the gap isnt too high but I cant be here to buy first thing in the AM so I placed my buy for 15k shares at Market for the morning. This looks like a good buy to me.
GLTA on this one!!!
Chris
-------------------- Try not to become a man of success but rather to become a man of value......Albert Einstein
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cbay is bottomed out... time to rise... with this and ndol in my penny portfolio... I'm looking at some sweet gaines these next few weeks.... cbay is the way....
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An $8 million position for Cal-Bay looks to mature as one of the largest home builders closes escrow on a West Palm Beach, Florida property. First mortgage position was occupied by Cal-Bay. Cal-Bay purchased the first mortgage position in late 2005, being aware of the contract with National Home Builder and Developer in regards to the 289 acre parcel of land in West Palm Beach, Florida. The distributions of funds are expected to be in the region of $8 million after fees and costs. The investors that had assisted in the capitalization of the project will see a return of almost $2 million, including interest. The proceeds will net the company about $6 million in all. The funds are to be used specifically for the development of existing properties and the acquisition of additional properties for the company.
A leading edge in real estate acquisition, Cal-Bay International acquires, develops and manages a vast portfolio of diversified commercial, industrial and residential properties in high growth areas. The company’s current portfolio includes $22.5 million in properties and an equity position of more than $12 million. Each property is put through a due diligence test before it may be acquired by Cal-Bay.
I just couldn't resist. This sounds so nice, and the bounce alone has huge potential. Not to mention the dividend stuff and all the stuff this company really has going for it.
Looking forward to the next few days.
-------------------- Hindsight is 20:1. It's like printing money.
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Just got on my computer... not as hot as expected but glad to see this thing isn't continuing the drop from last week... the chart is ready to bounce...
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Looks like all the shorts left us today... get in this week before the divi guys... this is still my biggest penny player, all the way to the top... this thing will double before you know it... cbay is the way...
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One more thing guys... go through and do some dd on this stock... look at the news, read the charts... this REAL ESTATE stock is a no brainer...
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