Harrison Resource Corporation Announces One of the Largest Commercial Land and Water Rights Portfolios in Colorado History

DENVER, Feb. 17 /PRNewswire/ -- Harrison Resource Corporation, a leading Colorado land and water rights brokerage firm, announced it is offering a real estate investment portfolio for $177 million, $223 million less than its $400 million 2007 valuation.

"At a 58% discount, there is no better time to invest in a land opportunity like this," said Craig Harrison, founder of Harrison Resource. "Analysts across the country are predicting Colorado real estate to return to recent peak values within four to seven years. Various financial scenarios show this land investment has an unleveraged potential internal rate of return in the 18-25% range. Preliminary interest has been very favorable due to the high return potentials and opportunistic pricing."

This real estate investment portfolio comprises 23 separate properties, including 5,000 acres of annexed and zoned land, 9,370 building lots in various stages of development, 1,136 acres of commercial land, and valuable water rights and mineral rights. When compared to 30 listed competing U.S. commercial land properties in the $100 to $200 million range, the portfolio offers the second lowest price per square foot and is the second largest in acreage on the U.S. market today.

Dr. Mark Levine, Professor and Director of the Burns School of Construction and Real Estate Management at the University of Denver, said, "This listing is a huge package of properties, with great attractions. To have over 9,000 lots, commercial ground, water rights, and much more certainly warrants many large investors and companies to take a good look at a rare opportunity to acquire property in Colorado.  When the market picks up, this package will become, a fortiori, very, very attractive."

For more information, visit http://northerncolorado.propertyarchive.com. To request an investor package, contact Harrison Resource Corporation at (970) 612-4100.

About Harrison Resource Corporation

Harrison Resource Corporation (http://www.harrisonresource.com) is a land and water rights brokerage firm based in Loveland, Colorado. Founded in 1980, the company has closed more than 750 transactions worth over $625 million with local developers, city governments and large corporations all across Colorado, including Anheuser Busch, Hewlett Packard, and Eastman Kodak. Harrison Resource has expertise in land acquisition, commercial real estate, 1031 tax-deferred exchanges, municipal water rights acquisitions and water right exchanges.

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SOURCE Harrison Resource Corporation