Four Star Holdings, Inc. Shareholder Update
September 16 2010 - 9:00AM
Four Star Holdings, Inc. (OTCBB:FSTH) operates as the 4th largest
homebuilding company in the Birmingham, Alabama, area; closely
competing with D.R. Horton (DHI) and Lennar (LEN) as a fully
integrated builder and developer. The company operates in
four segments, Land Acquisition, Land Development, Structural
Community Planning & Homebuilding, and Realty Brokerage
Services. The corporation is headquartered 30 minutes from
Birmingham, in Odenville, Alabama.
Officers/Directors Bobby Smith Jr. and Fran Mize have folded in
three of their eight businesses into Four Star Holdings, Inc. The
acquisitions that are complete are, Ridgefield Development Corp.,
Twelve Oaks Properties, Inc., and Four Star Realty, LLC., with
total appraised assets of $19,500,000 and a net asset value of
$6,000,000 (appraised at Fair Market Value). Smith and Mize have
stated their intention to acquire their other private companies as
audits are completed. Once complete, it is projected that
Four Star Holdings, Inc. assets will exceed $78 million with a $43
million net asset value.
The Company has over 5,300 residential building sites in various
stages of completion that are available to build on themselves or
sell to other builders. Their residential neighborhoods
include amenities that are normally found only in more expensive
"gated" communities which makes their neighborhoods a more
desirable. The anticipated completion of their current
residential neighborhoods will be in the next 8-9 years, with
forecasts of $90,000,000 in gross sales yearly over the next nine
years. The Birmingham metropolitan region ranks as one of the
leading business centers in the Southeastern United States and is
also one of the largest banking centers in the U.S. In a
recent article, Money Magazine claims that despite a poor real
estate market and the housing crisis certain markets are expected
to show price gains in the following months and years.
Birmingham is one of the cities and towns which have been
virtually uninjured by the real estate crisis, seemingly insulated
to the problems that have plagued the rest of the nation.
Smith and Mize have built to date over 1,100 single family
homes, over 30 commercial properties, numerous multifamily projects
and one town home complex with a number of projects currently in
various stages of construction. Over the past 18 months
during the housing crisis, the Company has shown stability in the
company's operation. They have seen a large percentage of
their Home Building Competitors cease doing over the past several
years. This fact, coupled with Four Star's ability to develop
their own building lots as opposed to purchasing them from another
developer, gives them a significant competitive advantage and bodes
well for their future as the housing market begins its
turnaround.
Please visit our website at http://www.4starrealty.net/
The Four Star Holdings, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7467
Safe Harbor Disclosure -- This Press Release contains or
incorporates by reference "Forward-looking statements," including
certain information with respect to plans and strategies of Four
Star Holdings, Inc. For this purpose, any statements
regarding this announcement, which are not purely historical, are
forward-looking statements, within the meaning of the Private
Securities Litigation Reform Act of 1995, including Four Star
Holdings, Inc. beliefs, expectations, hopes or intentions regarding
the future. All forward-looking statements are made as of the
date hereof and based on information available to Four Star
Holdings, Inc. as of such date. There are a number of
important factors that could cause actual events or actual results
of Four Star Holdings, Inc. and its subsidiaries to differ
materially from those indicated by such forward-looking
statement.
CONTACT: Golden Key Business Ventures
(631) 750-6718