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.
