SOURCE: Metrospaces, Inc.

October 28, 2013 09:51 ET

Metrospaces Has in Principle Reached an Agreement to Sell 4 Condos in the Chacabuco 1353 Development to Investor

MIAMI, FL--(Marketwired - Oct 28, 2013) - Metrospaces, Inc. (OTCQB: MSPC) today announces that, it has sold 4 of its Chacabuco 1353 Apart-Hotel units to an investor. Option Agreement documents will be executed on or before November 30th. Sale price is $90,000 for each unit, for total proceeds of $360,000. Company will receive up to 80% of the sale price in installments, until final delivery and protocol. Protocol is expected to come approximately 90-120 days after final delivery of the units, at which time the company will be able to book this sale as revenue. 

Mr. Brito stated, "This is an excellent deal for us since we are able to obtain almost 100% list pricing on a bulk. Additionally, and even more exciting is the fact that we are starting to realize our cash position which will go a long way in helping us finance our new and current projects."

Metrospaces was originally founded by company President Oscar Brito.

Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their world-wide network of highly recognized real estate entrepreneurs, the company was able to capitalize on unique real estate development opportunities. Since Inception the company has leveraged those relationships along with extensive financial expertise and transformed excellence by results.

Metrospaces is a boutique real estate development company, a product of the alliance of Metrospace shareholders, along with an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the America's and across Europe valued in excess of US $350Million.

Metrospaces majority shareholders has partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, and is currently involved in negotiations for the development of several Elite luxury properties in South America.

Among Metrospace partners are Architects, Real Estate Developers, Agents and Attorneys of the highest standing, with extensive experience in the global property market.

About Metrospaces:

Metrospaces is a publicly traded real estate investment and Development Company which acquires land, designs, builds, and develops then resells condominiums and Luxury High-End Hotels, principally in urban areas of Latin America. The company's current projects are located in Buenos Aires, Argentina, and Caracas, Venezuela.

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