Walnut Creek, CA (PRWEB)
June 23, 2015
Owens Realty Mortgage, Inc. (NYSE MKT: ORM) (the business), announced today that, during 2nd quarter 2015, it sold three properties previously held as Real Estate Held available. The sale among these three properties situated in Greeley, Colorado; Sunnyvale, California and Sacramento, California for a complete sales price of $ 34.6 million has actually produced approximately $ 24 million in cash, realized book gains of approximately $ 15 million, and extinguished $ 9.8 million in mortgage financial obligation.
We think that these sales and feasible future product sales of specific of your other properties will unlock embedded equity and supply additional money towards the Company. Even as we continue to streamline our balance sheet while focusing on our core company, these deals additional enable united states to keep to boost liquidity and increase our loan manufacturing and profile, commented Bill Owens, the Companys Chairman and ceo.
About Owens Realty Mortgage, Inc.
Owens Realty Mortgage, Inc., a Maryland corporation, is a niche finance home loan business arranged to qualify as a genuine property investment trust (REIT) that is targeted on the origination, financial investment, and handling of small balance and middle-market commercial real estate loans. We offer custom-made, short-term acquisition and change capital to commercial property investors that want speed and flexibility. Our major goal should provide investors with appealing existing earnings and lasting shareholder price. Owens Realty Mortgage, Inc., is headquartered in Walnut Creek, California, and is externally handled and encouraged by Owens Financial Group, Inc.
Extra information are available in the Companys site at http://www.owensmortgage.com.
This news release includes “forward-looking statements” in the meaning of the safe harbor terms associated with usa Private Securities Litigation Reform Act of 1995. Forward-looking statements about Owens Realty Mortgage Inc.’s programs, strategies, and customers, including the deals talked about within press release, derive from present information, quotes, and projections; they’ve been at the mercy of dangers and concerns, including understood and as yet not known dangers, which may trigger real leads to differ from expectations, estimates and forecasts and, consequently, visitors shouldn’t rely on these forward-looking statements as forecasts of future occasions. Terms including “expect,” “target,” “assume,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predicts,” “potential,” “carry on,” and similar expressions are designed to determine such forward-looking statements.
Readers tend to be cautioned to not spot excessive dependence upon any forward-looking statements, which speak just at the time of the time made. The organization will not undertake or take any obligation to release openly any changes or revisions to your forward-looking declaration to mirror any improvement in its objectives or any improvement in activities, circumstances or conditions which these declaration is situated. Additional information regarding these as well as other risk factors is contained in the Company’s latest filings with the Securities and Exchange Commission. All subsequent written and dental forward-looking statements regarding the business or matters owing to the company or any person performing on its behalf are expressly skilled in their totality because of the cautionary statements above.
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