MasterBeat Corp. Subsidiary, SBQ Holdings, LLC, Accepts $1.4 Million ($1,400,000) Offer for Its Verano Palace Property in Miramar Beach, Florida
MIRAMAR BEACH, FL - (NewMediaWire) - April 22, 2021 - MasterBeat Corporation (OTC: MSTO), a company specializing in hard, tangible asset acquisitions with an intense focus on real estate, precious metals, collectible classic automobiles, and other tangible assets, announces that it has received and accepted an offer of $1.4 Million ($1,400,000) for its Verano Palace real estate asset in Miramar Beach, Florida.
Verano Palace Property
SBQ acquired the Verano Palace property, a 7-bedroom, 7.5-bath vacation style rental property, in September, 2019, for $1.1 Million ($1,100,000). The property was acquired in the initial phase of SBQ’s Real Estate Business Model and was expected to be income generating, self-sustaining with potential for significant asset appreciation. The Verano Palace property proved to meet all these targeted parameters. The asset has generated approximately $250,000 in revenues, has been self-sustaining and profitable and, upon closing of this $1.4 Million offer, will realize asset appreciation of $300,000 in less than two years.
As announced on March 23, 2021, SBQ has acquired the land and is preparing to build its 5,000 sq. ft. Santa Rosa vacation style property. The Verano Palace and Santa Rosa properties were purchased and financed via traditional mortgage which are personally backed and guaranteed by MasterBeat’s CEO, Josh Tannariello.
“We are incredibly pleased with the $1.4 Million offer for our Verano Palace property. Another achieved milestone that continues to validate our business plan and proves the model works. Our model seeks to acquire properties that are income generating, profitable and self-sustaining, and have the potential for significant appreciation. Our first asset, the Verano Palace, has delivered on every aspect and then some,” stated Josh Tannariello, CEO of MasterBeat. “We now have proven our initial automotive and real estate models work. We have been working diligently on getting our Company situated to obtain the financing necessary to grow the company and deliver even more significant value to our shareholders. We also have 2 years of audited financials and a 3rd year audit is currently being conducted. In a short amount of time, we have achieved verifiable operations, revenues, profits, growth and asset appreciation. We feel these accomplishments will help us achieve the additional and significant traditional financing we seek to execute our business model and accelerate the growth of our Company.”
About MasterBeat Corp.
MasterBeat Corporation (OTC: MSTO), incorporated under the laws of Delaware, is a publicly traded company specializing in hard, tangible asset acquisitions with an intense focus on real estate, precious metals, and other tangible assets. The company believes its progressive approach to an old school model, especially in this market based on fragile earnings multiples and uncertainty, to acquire hard, tangible assets will not only offer long term capital appreciation but also deliver revenues, profits, and self-sustainability.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.