Alset EHome International Inc.
20.7.2021 15:16:45 CEST | ACCESS Newswire | Press release
BETHESDA, MD / ACCESSWIRE / July 20, 2021 / Alset EHome International Inc. (NASDAQ:AEI) (the "Group" or "Company"), a diversified holding company principally engaged through its subsidiaries in the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products, today announced that the Company will begin the process of seeding its American Home REIT Inc. (the "REIT") ("AHR") by transferring over twenty (20) single family rental homes ("SFR"), all currently occupied with long term leases , to the REIT. The Group targets to increase the number of SFR homes under the REIT to more than one hundred (100) homes by the end of 2021.
AHR's mission is to scale a Class A portfolio of residential real estate assets in line with the Group's vision of creating a sustainable, healthy living ecosystem that generates long term value and maximizes returns for its shareholders. Find out more on AHR at www.americanhomereit.com.
AHR targets to acquire residential real estate assets having a capitalization rate of approximately 5% on net operating income and to pay a quarterly dividend up to 8% annualized yield.
"AHR is an integral part of the entire ecosystem we are building," stated the Company's Chairman and Chief Executive Officer, Heng Fai Chan. "We are in the process of setting a strong foundation to rapidly scale operations across our entire ecosystem, and with AHR, we have the platform to grow at a much faster pace."
In the coming months, the Group is targeting to ramp up efforts to build the asset base of AHR which is ultimately targeted to pursue a dual listing status in global stock exchanges, particularly in the US and Singapore, a global hub for REIT listings.
Alset EHome Inc., the Sponsor of the REIT, is a 99.99% owned subsidiary of Alset International Limited (SGX:40V) which is in turn a majority owned subsidiary of AEI.
About American Home REIT Inc.
American Home REIT (AHR) seeks to own and manage income-producing, high-yielding real estate in the United States. In particular, AHR focuses on bulk purchases of large gated single-family home (SFH) communities that meet the investment requirements set by a team of highly experienced management and advisors. This includes an existing organic pipeline from the parent company that is developing its master planned community, Alset at Black Oak (Magnolia, Texas) and acquiring homes at NorthPark Woods (Porter, Texas). AHR will further acquire other SFRs in master planned communities to generate a steady income stream for investors. AHR targets to pay a quarterly dividend of up to 8% annualized yield.
For more information, please visit: www.americanhomereit.com.
About Alset EHome Inc.
Alset EHome Inc. is principally engaged in developing, selling, managing, and leasing residential properties in the United States, and may expand from residential properties to other property types. Currently, its two flagship developments are Alset at Black Oak situated in Magnolia, Texas, north of Houston and Ballenger Run situated in Frederick County, Maryland USA. Together with partners including NVR, Inc. and Rausch Coleman Homes, over 750 homes have already been delivered at these two projects.
About Alset EHome International Inc.
Alset EHome International is a diversified holding company executing on its vision to accelerate sustainable healthy living with a focus on the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products. Through its operating subsidiaries, Alset EHome's mission is to provide a healthy living ecosystem that drives long-term exponential growth, building liquidity and value for shareholders. Alset EHome is led by its chairman and CEO, Heng Fai Chan, a successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. Over his distinguished career, Heng Fai Chan has successfully restructured more than 35 corporations with a combined value of $25 billion. Learn more at www.alsetehomeintl.com.
Investor Contact:
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
Dave@redchip.com
Forward-Looking Statement Disclaimer
Statements in this press release contain "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Alset EHome International Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the final prospectus related to its initial public offering filed with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Alset EHome International Inc. undertakes no duty to update such information except as required under applicable law.
SOURCE: Alset EHome International Inc.
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