Atlanta, GA (PRWEB) November 05, 2014
EquiTrust USA, a Maryland real estate investment trust, is creating a unique upscale destination development called Cataloochee Resort. Land acquisition for the Village Commons, the first phase of the project (Phase 1A), is underway. The Village Commons will be a lifestyle shopping center in the super-regional category with leasable space in multiple configurations for a wide variety of tenants.
“Critical mass” in this early phase will be provided by the International Home Store (a unique 450,000 square foot, three-story facility dedicated to furniture and accessories). “Critical identity” will be provided by the Cataloochee Wilderness Lodge and Conference Center (Phase 1B). The brand is further reinforced by OutdoorWorld – a complex of three 50,000 square foot outfitters and sports outlets encircling the Museum of Outdoor Living. Also a major health and wellness center will be included in the initial development.
Super-regional centers attract visitors from a broad geographic area. These visitors tend to remain at the super-regional center for longer shopping trips and spend more money per trip. These tendencies are further increased for super-regional centers that provide a high degree of amenities, including hotels and recreational facilities. When a shopping destination is created, it provides jobs and spurs economic development.
Three companies have been established by EquiTrust to manage this stage of the resort development; the developer, hospitality operations, and another for the retail operations. Recently, EquiTrust selected a president for each of the three Cataloochee Companies and has started the land acquisition process. The team required to start Phase 1 design and construction has been established.
EquiTrust filed a registration statement with the SEC and the final amendment to the filing has been prepared and stands by to be filed upon completion of the SEC requested audit. EquiTrust anticipates an SEC effect letter soon after this submission.
Meanwhile, EquiTrust continues to mandate participants in the underwriting. Also, EquiTrust has recently approved the issue of Convertible Debentures and has started solicitation. These are first being offered to participants and then will be offered to the general public. Interested parties requiring specific information on the Convertible Debentures can find links to documents at http://www.EquiTrustUSA.com. “We are moving with eager anticipation toward our start of construction and invite participants who desire to work with us on this grand undertaking to contact us at the earliest date possible,” stated EquiTrust Chairman Donald Buenger.
About EquiTrust USA:
EquiTrust USA, a Maryland real estate investment trust, is an early-stage REIT formed in 2012 to focus investment capital on retail, hospitality and residential real estate development in the southeastern United States. The initial objective is developing a lifestyle resort and retail complex in a location that is complementary to the Great Smoky Mountain National Park and the surrounding national forests. The genesis of EquiTrust USA is a love for this region and knowledge there will be strong economic development in this area over time.
EquiTrust USA is committed to creating economic development in the region that positively impacts and celebrates the wonder of this unique environment. EquiTrust has assembled a team of well-seasoned design and financial professionals that are all deeply committed to proper planning and dedicated to focusing on harmonious new growth while also having a gentle hand on the land. Their mission is to create a sustainable high quality of life for the community and the surrounding area, as well as provide a vibrant resort with amenities that celebrate the majestic soul of the region.