Aydon Income Properties, Inc.
CNSX : AYD

Aydon Income Properties, Inc.

May 27, 2015 09:56 ET

Aydon Forms US Real Estate Limited Partnership

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 27, 2015) - AYDON INCOME PROPERTIES INC. (CSE:AYD), is pleased to announce that through its US real estate limited partnership, AIP USA Limited Partnership I it has signed conditional Letters of Intent (LOI) with two vendors to purchase a portion of their portfolios of single family homes in Metro Detroit.

Aydon is preparing an Offering Memorandum (OM) seeking up to US$5 Million to fund the purchase of approximately 100 income producing residential properties in select areas of Metropolitan, Detroit, Michigan. All targeted properties have been renovated and are currently tenanted and meet the minimum cash flow and return on investment ("ROI") requirements mandated by the AIP General Partner. The terms set forth in the LOIs will become binding once the parties sign the detailed Purchase Agreements.

David Jackson, President of Aydon states, "Detroit is in Recovery! Detroit's dynamic rejuvenation is presenting remarkable investment opportunities: Detroit has become a city that is taking pride in its reinvention and prolonged sustainability. Aydon is poised to take part in this historical comeback opportunity."

About Detroit

Recent investment in Detroit has validated Aydon's business model. Market momentum in Detroit's core is real and palpable and provides a strong foundation for future growth.

Detroit is ranked among America's top ten downtowns and leads the housing market rebound with home prices increasing by 23.3 percent annually. The people of Detroit are helping revitalize their city; but there are also investors who see potential future gains.

Bruce Katz of the Brookings Institution wrote in an article concerning the growth strategy for Detroit: "It is embracing industries previously foreign to its economy, like finance and health care. Many investors have seen return on investment exceeding 17 percent."

No person has put more capital into Detroit, or displayed more confidence in the city's future, than Dan Gilbert, founder of mortgage provider Quicken Loans. He has invested well over $1 billion in downtown Detroit and bought some 3 million square feet of real estate. He has moved his 7,600 employees downtown and has brought 80 startups to the buildings he already owns. Gilbert publicly announced after Detroit filed for Chapter 9 bankruptcy that the city will "thrive again".

About Aydon Income Properties Inc.:

Aydon Income Properties Inc. is strategically positioned to take advantage of the recovery currently underway in the United States after the historic financial crisis that led to a severe downturn in the residential housing market. Our aim is to capitalize on the recovery in the real estate market by acquiring quality assets at prices below replacement cost in prime residential neighbourhoods that can be turned around or made more profitable through rehabilitation and marketing programs designed to maximize occupancy and boost rents. For more information about the Company, please visit: www.aydonproperties.com.

ON BEHALF OF THE BOARD

David C Carkeek, Senior Vice President

Forward-Looking Statement:

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information effects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Information