Strategic Internet Investments acquiring SkyTower Hotel in Turkey

Strategic Internet Investments Inc. (SIII), a development stage company in the real estate development industry, is in the process of completing its acquisition of the SkyTower Hotel in Turkey, moving toward finalizing the deal by issuing $63 million in debentures to the owner of the hotel and to several strategic investors.

SkyTower, located in the port town of Akcakoca, has one of the biggest and best spa-wellness centers in the area. It includes tennis courts, game rooms, business centers, outdoor and indoor pools and a children’s playroom.
 
The deal is part of SIII’s rapid portfolio expansion that includes the acquisition of AkCenter Shopping Center last month. The goal is to continue to expand revenue generating potential through commercial real estate acquisitions so that the company owns a lucrative portfolio of properties throughout Europe and the Middle East.