International Development and Environmental Holdings Signs Agreement to Acquire Commuter Parking Facility
International Development & Environmental Holdings, an emerging leader in professional parking management, today announced that the Company executed an agreement with Flash Parking Lynbrook, Inc. to acquire the rights to Flash Parking's commuter parking facility located at the Lynbrook train station of the Long Island Rail Road.
The parking facility has over 225 parking spaces and is nearly 100% utilized. This acquisition positions the Company strongly in the tri-state area in working with municipalities and related agencies which provide crucial services to commuters.
The acquisition is structured as an assignment of Flash Parking's rights to operate the parking facility. Scott Lieberman, President of the Company is also the sole owner of Flash Parking and the purchase price will be based upon an independent third party appraisal.
We are quite enthused with the progress of the acquisition process, stated Scott Lieberman, Chairman & CEO. Working with the LIRR and serving the municipality of Lynbrook opens many doors for IDEH as we approach other similar targets.
The acquisition is structured as an assignment of Flash Parking's rights to operate the parking facility. Scott Lieberman, President of the Company is also the sole owner of Flash Parking and the purchase price will be based upon an independent third party appraisal.
We are quite enthused with the progress of the acquisition process, stated Scott Lieberman, Chairman & CEO. Working with the LIRR and serving the municipality of Lynbrook opens many doors for IDEH as we approach other similar targets.
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