TPT Global Tech Inc (OTC:TPTW) and its controlled subsidiary TPT Strategic Inc announced the completion of the JV Real Estate Development Agreement and Real Estate Land Purchase with Julisabar Holdings LLC located in North Carolina.
TPT Strategic Inc has bought 1.2 acres of land at 2912 Beatties Ford Road, Charlotte, NC, from Julisabar Holdings LLC, and this purchase was done for $1 million, paid in the form of TPTW Series E Preferred Series E stock. The stated price of the stock is $5.00 USD per share.
The Stock is convertible and has a 6% interest rate, which is subject to a 25% discount on TPTW listing on a USD stock exchange. The company’s Series E Preferred Stock includes features such as its SEC-qualified Series D Preferred Stock, which individuals can invest in.
Collaboration between Julisabar Holdings LLC and TPT Strategic is the start of a joint venture with the aim of developing an 80-unit sustainable apartment and affordable housing on the acquired land. The project’s intent is to align with TPT Strategic Inc’s commitment to creating socially responsible real estate developments. A definitive Joint Venture Agreement for developing an 80-unit affordable housing apartment complex would be done by both parties.
Stephen J. Thomas III, CEO of TPT Global Techexpressed excitement about partnering with Julisabar Holdings LLC with the aim to bring the affordable housing project to fruition. Thomas added that combining expertise in real estate development and technology with relationships and local knowledge of Julisabar will help create a transformative community addressing the need for affordable housing in Charlotte NC.
The partnership’s aim is to leverage TPT Strategic Inc.’s extensive experience in the construction, design as well as management of residential properties.
The 80-unit apartment complex will incorporate amenities and sustainable features for enhancing the quality of life for residents as well as promoting environmental stewardship.
John Mayo, CEO of Julisabar Holdings LLC believes that addressing the affordable housing crisis entails innovative solutions and collaborations. Mayo added that he is thrilled about joining forces with TPT and leveraging combined strengths for creating development to positively impact the community.
TPT Global Tech Inc announced that its wholly-owned subsidiary, TPT SpeedConnect, LLC, a provider of high-speed internet and communication services, has closed an agreement to merge with Asberry 22 Holdings Inc. TPTW will retain majority control with about 85% ownership or 4,658,318 shares of the common shares.
Stephen J. Thomas III, CEO of TPT Global Tech said that the company believes in the merger being a significant milestone for TPT SpeedConnect and TPTW. Thomas is excited about closing the merger with ASHI as it can help create a robust platform for growth, expansion, and raising capital.
Based in San Diego, California, TPT Global Tech Inc. is a technology holding company and was formed as the successor of two US corporations, Ally Pharma US and TPT Global Inc. The firm operates in several sectors including telecommunications, Smart City Development, and will launch the first super App VuMe Live technology platform.