Austin, TX, January 23, 2009 --(PR.com
)-- In November 2008, Buyer Group International, Inc. (BYRG.PK) happily agreed to participate in a joint venture that will develop a 40-acre property in the Barstow corridor between Los Angeles and Las Vegas valued at approximately $7.8 Million. The property is situated on a highway access point and provides one of the best locations in the Barstow corridor for an entertainment resort style project. The joint venture will receive an initial capital contribution of approximately $616,000 from the other JV Partner and Buyer Group International, Inc. will also seek to raise for the venture additional first round funds of $300,000 - $500,000 to cover soft costs and other expenses associated with management, legal and accounting. Buyer Group International, inc. will receive a pro rata share of 85% total equity in the project. A second round will seek to raise an additional $3-4 million to provide for the complete development of the land in preparation for the construction of a resort style entertainment facility designed to capture a small percentage of the billions in revenue dollars travelling through the Barstow corridor every year.
Although no exact data exists to support the claim, Las Vegas gaming industry professionals estimate the Barstow corridor to carry more than $7 Billion per year in entertainment and retail traffic from Los Angeles to Las Vegas. Aside from retail traffic, the Barstow corridor also serves as an inland port for container shipments awaiting inspection arriving from LAX and Long Beach terminals and sits as a major crossroads for freight between Flagstaff and Bakersfield along I-40.
Buyer Group International, Inc. remains committed to fundamental real estate investment as a wealth generation vehicle increasing shareholder value through an equity participation model. Through strategic partnerships they aim to assist property owners and developers in the turbulent markets by utilizing proven techniques to acquire and hold real estate, bring our clients ease of ownership, and implement modern product features enhancing quality of life and long term value.
The company offers investors a range of prospects in residential property in the US. By co-venturing with financial partners in the Caribbean, they offer the institutional investor the opportunity to invest in business and real estate opportunities that add value to the shareholder’s bottom line.
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Statements contained in this document that are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The company undertakes no obligation to update or revise its forward-looking statements.