MAITLAND, Fla.--(BUSINESS WIRE)--Green Global Investments, Inc. (OTCBB:GGIX), a fully integrated real estate investment, development and operating company focused on senior housing management, updates shareholders on its business strategy and other current developments.
“more clearly reflects our Company's business operations and ongoing corporate growth strategy.”
Green Global Investments currently has 1,000 units in 10 senior housing facilities in Ontario, Canada, and expects to grow rapidly to 3,000 to 5,000 units for which it will provide management and other services. The Company also has under contract two acquisitions of properties in Florida, with approximately 120 units of assisted living.
Additionally, Green Global has two separate properties under contract in Florida that it intends to develop, each of which is expected to consist of 120 units of assisted living and memory care. The Company will operate, and have an ownership interest in, each of them. The development projects will be partially funded through the Company's EB5 Regional Center. The United States Citizenship and Immigration Service EB-5 Visa Program provides an international investor and his/her family with a Green Card after the company in which they invest creates employment from the invested capital.
Green Global's acquisition and development strategy is a central component of its mission to become a leading seniors housing management company with a resident-centric service model. As part of its growth strategy, the Company expects to continue to identify compatible acquisitions, development opportunities and mergers, joint ventures and financing channels for seniors housing properties, which will provide further opportunities to manage seniors housing facilities. Green Global has also filed to change its corporate name to "LivingVentures" with the state of Florida; it then expects to file a name and trading symbol change with FINRA as well.
Richard Asta, President and CEO of Green Global Investments, Inc. said, "Our two recent acquisitions, CommerCenters, LLC, a real estate and capital markets company, and International Care Management Services, a leading seniors housing management company ("ICMS", operating under our branding as "LivingVentures Management"), position us as an emerging leader in the senior living industry. Our filing with the state of Florida for a name change to "LivingVentures" more clearly reflects our Company's business operations and ongoing corporate growth strategy.”
"We believe our hospitality model, experienced operations management team, resident-centric service approach, and the capital market strength provided by our Orlando EB5 Regional Center Investments, give us clear advantages as we implement our growth strategy. We expect these unique characteristics will enable Green Global to fulfill its mission of becoming a premier real estate company in the seniors housing business," Mr. Asta concluded.
The Company’s Asian subsidiary, GGI (Asia) Ltd., which supports Orlando EB5 Regional Center Investments, provides access to investment capital to fund its various projects.
Recent Developments and Repositioning of the Company's Business
As part of the Green Global's strategy to expand its business focus, it acquired CommerCenters, LLC, in March 2012, and 2040177 Ontario Limited (“ICMS-Canada”), and International Care Management Services Ltd. (“ICMS-US”), in September 2012 (collectively, "ICMS"). CommerCenters is a fully integrated, real estate investment and development firm, headquartered in Orlando, Florida, with clients and joint venture partners in properties located principally in Central Florida. ICMS manages, operates and provides services to approximately 1,000 units in 10 senior housing facilities in Ontario, Canada. Its management team is highly experienced in the successful operation of senior living facilities.
In June 2012, the company sold China Clean and Renewable Energy Limited, and its related businesses, which provided consulting services, equipment and other related environmental protection services and projects in China, to Power Pacific Holdings Limited. As a result of this divestiture, the Company is now focused solely on the acquisition, development and operation of seniors housing properties.
About Green Global Investments, Inc.
Green Global is a fully integrated real estate investment, development and operating company focused on senior housing management. Its hospitality model and resident-centric approach provide the company advantages in the senior living sector. The company currently operates and provides services to senior housing projects in Canada and Florida and plans to develop, own and manage assets in markets across the U.S. and Canada. Green Global has extensive expertise in senior housing management, commercial real estate development and capital markets financing. Its recent acquisition of International Care Management Services (“ICMS”), a company that manages 1,000 senior housing units in Ontario, Canada, brings a robust pipeline of attractive acquisition and management opportunities. The company also provides EB-5 equity capital and debt financing. To learn more about the company, visit its website, www.greenglobalinvestments.com.
Safe Harbor Statement
Statements included in this press release that do not relate to present or historical conditions are “forward-looking statements.” Forward-looking statements may include, without limitation, statements relating to our plans, strategies, objectives, expectations and intentions and are intended to be made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Our ability to predict projected results or the effect of events on our operating results is inherently uncertain. Forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those discussed. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. Forward-looking information is based on information available at the time and/or management’s good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Important factors that could cause actual performance or results to differ materially from those expressed in or implied by, forward-looking statements include, but are not limited to factors described in our 2011 Annual Report on Form 10-K and 2012 Quarterly Reports on Form 10-Q.