Suntex Enterprises (OTC: SNTX) announced the closing of its previously disclosed acquisition of approximately 100 acres in South Texas through its wholly owned subsidiary, Red Spur Land & Ranch Co. Acquired for approximately $2.5 million, the property establishes a strategic land position and serves as the first major deployment of the company’s long-term development platform focused on land ownership, development, construction and infrastructure.
The company said it is evaluating plans for a multi-phase mixed-use development that could include residential, commercial, hospitality, entertainment and community-oriented components. Suntex expects the project to leverage the capabilities of several operating subsidiaries, including GoldenEra Development, JA Development & Construction and Deep South Electrical Contractors, as it advances engineering studies, master planning initiatives and infrastructure assessments for the property.
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About Suntex Enterprises
Suntex Enterprises, Inc. is a diversified operating company focused on acquiring and scaling businesses across construction, infrastructure, manufacturing, land acquisition, development, and consumer sectors.
For more information on the company, please visit: http://www.suntexenterprises.com/
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