Fort Lauderdale, FL, March 05, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Turnkey Capital Inc. (TKCI) today announced the Company has signed a Letter of Intent to acquire Collarmele Holdings, Inc., fka HealthSpan Medical Systems, Inc. Collarmele Holdings was recently acquired by HealthSpan Medical Systems, Inc. and the name of the company was changed to Collarmele Holdings, Inc. (CHI) (the Company). CHI is a real estate holding company that acquires, develops, redevelops and manages investments in mixed-use retail and healthcare properties throughout the United States.
“In addition to our large scale Mixed Use redevelopment and Triple Net Lease pipeline, we believe there is real opportunity for the repurposing of underutilized retail and office space for medical, health and wellness services. The partnership of TBG and executives at Medixall will reimage the industry through a real estate lens creating a product that will be a highly attractive option for re-tenanting traditional shopping centers and mixed use space,” stated Joseph Tagliola, CEO of Collarmele Holdings, Inc. “Developers are not keeping pace with the growing number of large commercial spaces being vacated by retailers and e-commerce distractors as a result of economic market shifts.”
“Because so many of our medical practitioner clients were experiencing challenges trying to manage their practices, we were looking for a partner who understood how to configure modern healthcare offices and facilities,” stated Neil Swartz, CEO of TKCI. “In Collarmele Partners, we found Healthcare development industry leaders who also brought retail, office and mixed-use expertise, and so much more. Commercial real estate owners are incorporating healthcare and wellness-related facilities to revitalize their properties. We are focusing on shared workspace models similar to those developed by innovators like WeWork,” Swartz added.
The Collarmele Holdings partners’ confidence and momentum for this enterprise is solidly anchored by the track record of Collarmele Partners, LLC. Mr. Tagliola, and his development team, have been successfully reshaping development models for large scale commercial developments over the last several decades and have an understanding of what works in the marketplace. As former President of QIC US Properties (an $80B fund manager from Queensland Australia), former President of Retail and Office for Turnberry Associates, and Senior Executive Vice President of Westfield Corporation, Mr. Tagliola brings a depth of commercial development experience and execution to Collarmele Holdings.
Collarmele Holdings focuses on three main areas of commercial real estate development:
- Health & Wellness: flexible leasing options in premium locations, that meet the needs of today’s healthcare practitioners;
- Triple Net development/leasing – traditional leasing options for larger businesses with long-term needs;
- Retail and Mixed-Use commercial development/leasing – the CHI team has decades of experience in creating commercial development for retail, office, hospitality (hotels/motels), and more.
Collarmele Holdings is in talks with several commercial real estate property owners to determine which projects will be contracted shortly.
TKCI anticipates the acquisition of Collarmele Holdings, Inc. will be completed in under 90 days. The Company will undergo a financial restructuring in conjunction with this transaction. Turnkey Capital Inc will retain its name and trading symbol.
About Turnkey Capital Inc.
Turnkey Capital Inc. (TKCI) is a business advisory company that aligns with, and builds value in, both private, public, and development-stage healthcare-related companies. TKCI acquired, built and developed the strategic direction of our companies which included: defining short and long-term strategic goals; identifying and planning for the critical success factors to reach these goals; identifying and addressing the challenges and operational improvements required to achieve the critical success factors and, ultimately, the strategic goals. In its next phase, as a healthcare and mixed-use retail real estate development company, TKCI will acquire and/or develop commercial real estate properties retain the name Turnkey Capital, Inc., and its trading symbol, TKCI.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company’s current plans and expectations, as well as future results of operations and financial condition. Specifically, the Company’s ability to raise additional capital, execute its business plan and strategy, sustain or increase gross margins, achieve profitability and build shareholder value are forward looking statements. A more extensive listing of risks and factors that may affect the Company’s business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.