24.10.2008 - Asia Properties announces plans to explore buying distressed asian property
From Marketwatch.com: Asia Properties, Inc. has approved a plan to participate in purchases of distressed resort real estate assets in Asia over the next two years. CEO, Daniel McKinney said, "Due to the recent financial turmoil and world wide economic malaise, we expect to find some interesting distressed Asian deals over the 24 months." Unlike many other property companies, API is not highly leveraged and has paid cash for its real estate acquisitions, and has no bank mortgages..... Full Article: Source
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