Item 2. Properties
Item
2. Properties.
Black
Oak
The
Black Oak property is located in Montgomery County in Magnolia, Texas. This property is located east of FM 2978 via Standard Road to
Dry Creek Road and South of the Woodlands, one of the most successful, fastest growing master planned communities in Texas. This residential
land development initially consisted of approximately 162 acres. On January 13, 2021, 150 CCM Black Oak, Ltd. purchased an approximately
6.3 acre tract of land in Montgomery County. The Company’s strategic acquisition contiguous to the Black Oak project is intended
to provide additional lot yield, potential additional amenities and/or a solar farm to support the Company’s sustainable, healthy
living concept. Together with the additional tract of land there are approximately 550-600 lots to be platted for the Company’s
future endeavors. This does not include the 124 lots sold to Rausch Coleman. 150 CCM Black Oak Ltd is the primary developer responsible
for all infrastructure development. This property is included in the Southeast Management District.
Planned
Alset Villas Project in Texas
In
2021, our subsidiary Alset EHome Inc. acquired approximately 19.5 acres of partially developed land near Houston, Texas which will be
used to develop a community named Alset Villas (“Alset Villas”). Alset EHome is targeting to develop approximately 63 homes
at Alset Villas for rent and/or for sale. The Alset Villas project is currently in the engineering and design phase to achieve final
record plat.
Ballenger
Run
Ballenger
Run is a residential land development project located in Frederick County in Frederick, Maryland. This property is located approximately
40 miles from Washington, DC, 50 miles from Baltimore and is located less than four miles from I-70 and I-270. Ballenger Run is situated
on approximately 197 acres of land and entitled for 689 residential units consisting of 479 residential Lots and 210 multi-family units.
SeD Maryland Development, LLC is the primary developer responsible for all infrastructure development.
Rental
Properties
During
2021 and 2022 the Company signed multiple purchase agreements to acquire 132 homes in Montgomery and Harris Counties, Texas. By December
31, 2022, the acquisition of the 132 homes was completed with an aggregate purchase cost of $30,998,258.
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