TAMPA, Fla., March 11, 2011 /PRNewswire/ -- Gulf West Investment Properties, Inc. (Pink Sheets: GLFW) has completed negotiations with its lenders to reduce the outstanding mortgage balances on the properties it owns in South Tampa.
"The lenders have jointly agreed to reduce our outstanding balances on the mortgages from $4,000,000 to $1,000,000," said Gary Gauthier, President/CEO, Gulf West Investment Properties, Inc. (Pink Sheets: GLFW). "The repayment timeframes are currently being finalized."
About Gulf West Investment Properties, Inc
Gulf West Investment Properties, Inc. (Pink Sheets: GLFW) is a development & investment company. GLFW develops new projects with traditional design, or old projects redesigned with new ideals. GLFW provides investment portfolios & opportunities in property building and management. Gulf West Investment Properties Inc. plans to continue developing and expanding its business plan over the next twelve months. GLFW plans to take advantage of reduced construction and labor costs and lower prices due to increased inventory.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results of the specific items described in this release, and the company's operations generally, to differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements, and we disclaim any obligation to update information contained in any forward-looking statement.
SOURCE Gulf West Investment Properties, Inc.