SANTA MONICA, Calif.--(BUSINESS WIRE)--SouthCorp Capital, Inc. (OTCQB:STHC) announced today that the Company acquired approximately 1.5 acres of vacant land in Indiana. The Company is currently drawing up plans to build an apartment building with up to 32 units. Construction is expected to begin once the plans have been approved.
The units being planned will be 3 bedroom - 2 bathroom units and are expected to rent for $600-$800 per month. Based on expected construction costs, the Company expects a yearly ROI of 25-30%.
About SouthCorp Capital. Southcorp Capital, Inc. is a Delaware corporation. The Company focus is on the acquisition and renovation of single-family and multi-family properties in the U.S. with the intent of reselling the property after renovations have occurred. Our real estate investments are expected to focus properties undervalued and/or in need of some repairs.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
|SouthCorp Capital, Inc.|