[ad_1]
NEW YORK, NY / ACCESSWIRE / September 14, 2021 / Gaucho Holdings Group, Inc. (NASDAQ: VINO), a company that includes a growing collection of e-commerce platforms with a focus on fine wines, luxury real estate, and leather goods and accessories, today announced that its shareholders have approved the purchase of additional land properties in Argentina in a transaction valued at around $ 2.4 million. The purchase price was determined on the basis of an appraisal of the property carried out by an independent third party.
Located in Argentina, the properties were acquired from related, but independent, Hollywood Burger Holdings, Inc. (“HBHâ€). One of the property lots is located in San Rafael, Mendoza region of Argentina, and the other in Córdoba, Argentina, with the estimated fair market value of the combined properties totaling approximately $ 2.4 million. Both properties are located on major thoroughfares, with heavy foot and road traffic, and both with ample parking, a feature seen as a rare advantage in Argentinian cities.
Scott Mathis, CEO and President of Gaucho Holdings, commented: “This transaction is one of many potential opportunities for strategic and accretive acquisitions. Of the two properties, one is currently generating positive cash flow from rental income and will be accretive to the company. , and we expect the other to have substantial development opportunities. We believe that both are in ripe areas of choice for development, and we believe that the valuation of real estate has been temporarily lowered due to the Covid crisis, which could allow substantial appreciation in the years to come. . “
About Gaucho Group Holdings, Inc.
For more than ten years, Gaucho Group Holdings, Inc. (gauchoholdings.com)’s mission is to seek out and develop opportunities in the undervalued luxury real estate and consumer market in Argentina. Our company has positioned itself to take advantage of the continued and rapid growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences in lifestyle and landscape sectors. retail wanted. With a focus on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com) and luxury real estate (algodonwineestates.com) associated with our proprietary brand Algodon, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho – Buenos Aires â„¢ (gauchobuenosaires.com), these are the luxury brands in which Argentina finds its contemporary expression.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact included in this press release may constitute forward-looking statements and are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from forward-looking statements due to a number of factors, including those described from time to time in our documents filed with the Securities and Exchange Commission and elsewhere. The Company assumes no obligation to update any forward-looking statements contained in this document. All forward-looking statements speak only as of the date of this press release.
Media Relations:
Gaucho Holdings Group, Inc.
rick star
Marketing Director
212.739.7669
[email protected]
Investor Relations:
John mcnamara
917-658-2602
[email protected]
THE SOURCE: Gaucho Holdings Group, Inc.
See the source version on accesswire.com:
https://www.accesswire.com/664024/Gaucho-Group-Holdings-To-Acquire-Additional-Real-Estate-Assets-in-Argentina-in-Non-Cash-Transaction-to-Increase-Shareholder-Equity
[ad_2]
