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SIII Moves Towards Final Steps in SkyTower Hotel Acquisition

August 17, 2016

DUBAI, United Arab Emirates--(BUSINESS WIRE)-- Strategic Internet Investments, Inc. (OTC: SIII) moved towards the final steps in its planned acquisition of the SkyTower Hotel by issuing $63 million in debentures to the owner of the hotel and to several strategic investors.

SIII continues to rapidly expand its portfolio of real estate properties following its acquisition of AkCenter Shopping Center last month. For the SkyTower acquisition, SIII has issued debentures equal to the $63 million appraised value of the hotel. SIII plans to close the acquisition once the property’s liabilities are extinguished.

 

SkyTower is located in the luxurious castle of Akçakoca, a beautiful port town with breathtaking views overlooking the Black Sea. It hosts one of the biggest spa-wellness centers in the district with tennis courts, game rooms, business centers, outdoor and indoor pools, and even a children’s playroom.

 

SIII is rapidly executing its corporate strategy to expand revenue generating potential through a series of commercial real estate acquisitions to yield a portfolio of lucrative properties throughout Europe and the Middle East.

 

About Strategic Internet Investments, Inc.

 

SIII is a development stage company focused on real estate development and is pursuing various acquisitions as it expands its commercial real estate portfolio.

Through identifying opportunities in real estate development projects in high growth areas of Europe and the Middle East, SIII plans to build a real estate portfolio similar to industry leaders Jones Lang LaSalle, Inc. (NYSE:JLL), CBRE Group, Inc. (NYSE:CBG) and Colliers International (NASDAQ:CIGI).

For information, please visit http://www.siiincorp.com/news.html.

 

Notice Regarding Forward-Looking Statements

 

This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.

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