SOURCE: Freshstart Properties, Inc.

March 27, 2007 08:30 ET

Freshstart Properties, Inc. Adds Undervalued Asset to Its Portfolio

Rates of Return Improve as Vacancies Decline

TACOMA, WA -- (MARKET WIRE) -- March 27, 2007 -- (PINKSHEETS: FSPP) Freshstart Properties, Inc. has purchased a property for $152,000, located at 2902 South 15th Street Tacoma, WA. This property's market value should be approximately $173,000, when minor repairs are completed. This gives the company a13.8% return, once the project is completed.

According to leading investment advisors, the leading market today is the buying market in housing. Mr. Maherali, President and Chief Executive Officer, stated, "This property is great in two different aspects; increase monthly profit, and increase in the company's asset base directly at time of acquisition. The Pacific Northwest region continues to be a very stable market to invest in."

About Freshstart Properties

Freshstart Properties, Inc. (PINKSHEETS: FSPP) is a publicly traded real estate development company operating in the Pacific Northwest. The company's principal objective is to create equity and long-term earnings growth through the acquisition and development or renovation of undervalued and foreclosed real estate.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Contact Information

  • Freshstart Properties, Inc.
    Nazir Maherali
    Tel: 253-383-7194

    Project Analyst
    Therese Pershall
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