SOURCE: Omega Commercial Finance Corporation
MIAMI, FL--(Marketwire - Sep 4, 2012) - Omega Commercial Finance Corporation (OTCQB: OCFN) believes it can build shareholder value through two strategic alliances with a proven commercial property owner and developer with unencumbered real estate assets. This past period ending June 30, 2012, CCRE Capital LLC, a wholly owned subsidiary of OCFN, completed strategic alliances with Flavio Zuanier, who is the managing member of Gardens VE Limited and Towers Limited. Mr. Zuanier has 35 years of proven hospitality development and construction engineering expertise. As reported in the recent S-1 Registration Statement, OCFN has 49% ownership interest in both alliances. The alliances project to have an estimated total FMV of $71 million. Fundamentally, once the auditor consolidates these assets to the balance sheet, management estimates this could garner a projected Book Value increase of $34.79 million, or a $1.01 per/share BV. President Jon S. Cummings IV states, "This is a significant step towards seeking prudent diversification and growth for the company's shareholders!"
OCFN is a commercial real estate lender and specialty finance holding company. Through its subsidiaries, Omega CRE Group LLC and Omega Capital Street LLC, the company shall focus primarily on originating, investing in, acquiring, and managing senior-performing commercial real estate mortgage loans, commercial mortgage-backed securities, commercial real estate corporate debt and loans, and other commercial real estate related debt-investments in the U.S. and globally.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Omega Commercial Finance Corp., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," "project" and similar expressions are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those projected in the forward-looking statements.