International Development & Environmental Holdings To Close on Commuter Parking Acquisition in Lynbrook, New York
International Development & Environmental Holdings, an emerging leader in professional parking management, today announced that the Company plans to consummate the acquisition of Flash Parking Lynbrook, a commuter parking facility located at the Lynbrook train station of the Long Island Rail Road within two weeks, pending MTA approval. The parking facility has over 225 parking spaces and is nearly 100% utilized.
With an executed agreement completed on January 5, 2011, this represents one of many acquisitions planned to be closed during this quarter. Flash Parking Lynbrook serves a municipality and commuters, which the Company believes is key to its growth in the tri-state area.
The acquisition is structured as an assignment of Flash Parking's rights to operate the parking facility.
We are presently working to close on transactions for which we hold definitive agreements executed during 2010/2011. In tandem, we are aggressively pursuing other acquisition targets, many of whom approached IDEH directly. It is a win, win for the Company and the investment community, stated Scott Lieberman, CEO.
The acquisition is structured as an assignment of Flash Parking's rights to operate the parking facility.
We are presently working to close on transactions for which we hold definitive agreements executed during 2010/2011. In tandem, we are aggressively pursuing other acquisition targets, many of whom approached IDEH directly. It is a win, win for the Company and the investment community, stated Scott Lieberman, CEO.
Comments
There are no comments yet for this item
Join the discussion