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Mountain Top Properties Inc. (MTPP) Approaches Funding Target for Hamptons Projects

  • MTPP secured 70% of the acquisition and 100% of the construction costs for Hamptons development projects
  • Target returns estimated at 20-30% per transaction with an anticipated timeline of 15-18 months for each project
  • Recently filed Regulation A offering to raise $10 million
  • Highly diversified portfolio includes investments in PropTech and mixed-use properties

Mountain Top Properties (OTC: MTPP), a diversified real estate holding company, has recently secured debt capital commitments covering 70% of the acquisition and 100% of the construction costs for its Hamptons development projects.

“The old adage in real estate is ‘location, location, location’,” said Joseph Kelley, CEO of On Site Builder Construction, during a joint interview with MTTP CEO Beau Kelley on IBN’s Bell2Bell Podcast (https://ibn.fm/ra1m4).

“We have some of the most premier locations for building these high-end types of homes that probably exist in the country, if not the world.”

For most people, the Hamptons don’t need an introduction. The exclusive enclave of high-end mansions, luxury boutiques, and upmarket restaurants is known worldwide, yet accessible to few. Located just a few short hours from New York City, the area’s housing demand outstrips its precious supply – no matter what conditions prevail in the market.

MTPP recently partnered with On-Site Builder Construction Co. Inc. to acquire and develop projects in the Hamptons. Over the last 40 years, On Site Builder Construction has built 60+ exquisitely designed, uber-luxurious custom houses in the region. Varying in style from classic mansions to ultra-modern glass-encased compounds, many of these homes have captured the public’s imagination through mainstream print and television media.

Through its subsidiary Mountain Top Capital Fund I, MTPP aims to raise $75 million to renovate and remarket properties in the Hamptons, using $10 million to explore additional opportunities in the area. The estimated target return for each investment is 20-30% with an anticipated timeline of 15-18 months for each transaction.

MTPP has additionally filed a Regulation A offering to raise up to $10 million through the issuance of common stock. The minimum purchase requirement for the offering is 50,000 shares or $5,000 per investor. The common stock will not be listed on any securities exchange, and there are no plans for a future listing.

Mountain Top Properties diversifies its portfolio through investments in property technology (PropTech) and acquiring mixed-use real estate in the tri-state area. A recent example is an investment in HQXpress: a blockchain-enabled industrial and warehouse flex space company that provides flexible retail, commercial, and industrial space on a daily, weekly, or monthly basis (https://ibn.fm/8NEdA).

MTPP additionally secured a property lease near Harrisburg and Reading, PA, with convenient access to major corridors. The prime location includes a 250,000-square-foot mixed-use building, 14,400 square feet of refinished office space, and two single-family homes across five acres.

“This company is really focused on two main sectors, which are real estate/real property development and property technology,” said Beau Kelley. “We see that the property technology side of things is really a massive, growing opportunity to be able to expedite finance and payment methods and shipping routes, and so many things that we can help out from a logistics standpoint.”

“On the real estate side, this has been an opportunity that my father and I have talked about for a long time – bringing the capital markets opportunities into his building business.”

Incorporated in 1990, Mountain Top Properties Inc. operates at the intersection of traditional real estate development, property management, and PropTech innovation. The company is headquartered in Liverpool, New York with a presence in Sag Harbor, New York.

For more information, visit the company’s website at www.Mountain-Top-Properties.com.

NOTE TO INVESTORS: The latest news and updates relating to MTPP are available in the company’s newsroom at https://ibn.fm/MTPP

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