Nexia Holdings, Inc. announced after the bell today that the new management of Wasatch Capital Corp. has identified seven properties for acquisition under the real estate acquisition strategy recently announced. According to the press release, the estimated value of the properties is $1.6 million.
Currently, the company is performing due diligence on the properties to establish the final purchase price and conditions. The value of each of the properties range from $90,000 to $480,000, all of which are located in the northern Utah area, from the Salt Lake Valley north to Ogden, Utah.
Richard Surber, CEO of Nexia Holdings, stated, “These acquisitions would bring our residential property holdings up to a total of 10 properties and I believe that the growth of our portfolio would make future acquisitions easier. The success and future operations of Wasatch Capital Corporation under its new management utilizing our real estate acquisition strategy appear to be on track.”
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