BROOKLYN, NY -- (Marketwire) -- 01/21/13 -- Simshabs Capital Partners Inc. ("SCPI") -- Rafi Weiss, newly appointed President of Simshabs Capital Partners Inc., is pleased to announce the decision to proceed forward with investments in the development of several residential and office complexes in various states of the country. A first investment has been made by way of advancement of funds for acquisition of a site, in New Hanover, New Jersey. In addition, there is the option to convert, from debt to equity, within the next 12 months.
Funding was effectuated by Simshabs IX, Inc. Such is a subsidiary of SCPI and is a member of the family of corporations within which SCPI has an interest.
The basis for the investment is the immediate proximity of the buildings within the consolidated and continuously expanding McGuire Air Force/Fort Dix Army Base. In addition, a major medical provider has executed a lease for a significant portion of space within the building with other medical providers having also expressed interest. Discussions with several providers are underway with several others expected to commence negotiations shortly.
It is anticipated that there will be additional investments to be announced within the near future. It is expected that each and every contract, upon which SCPI proceeds and commits to, will have returns on investments that exceed the average expectations of investors in the market. SCPI views the current climate as one that is rife with opportunities that will bode well with the for the long term prospects of the company.
SCPI intends to effectuate a global strategy of having interests, of varying percentages, within specific entities, each of which will be developing the respected properties with long term value and consistent revenue streams. In the event that there is a need for further information, please do not hesitate to contact a Mr. Tom Feld at 718.375.8585.
Simshabs Capital Partners Inc.
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