Alset subsidiary agrees to sell ~242 residential lots in Texas for ~$12.9M

Alset Inc.

Seller (150 CCM Black Oak Ltd., Alset subsidiary) enters agreement with Century Land Holdings to sell 242 single-family lots at Lakes at Black Oak.
Aggregate purchase price and community enhancement fees anticipated total $12.881M, subject to lot count adjustments.
Closing in stages: first 132 lots by Dec 2022, remainder through 2023; buyer has 30-day inspection period.
Seller must develop and improve property per development plans prior to closings; part of Alset's multi-pronged real estate strategy.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Alset Inc. entered into Contract for Purchase and Sale and Escrow Instructions with Century Land Holdings of Texas, LLC valued at $12,881,000 (effective 2022-10-28).

Action: entry
Agreement: asset purchase
Counterparty: Century Land Holdings of Texas, LLC
Value: $12,881,000
Effective: 2022-10-28

Exact text from the filing

On October 28, 2022, 150 CCM Black Oak Ltd. (the “Seller”), a Texas Limited Partnership and an indirect, majority-owned subsidiary of Alset Inc. (the “Company”), entered into a Contract for Purchase and Sale and Escrow Instructions (the “Agreement”) with Century Land Holdings of Texas, LLC, a Colorado limited liability company (the “Buyer”).

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Alset Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-030367

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