Sitestar Closes First Tranche of Mt. Melrose Acquisition

Sitestar Corporation closed on the first tranche of properties in its acquisition of Mt. Melrose, LLC assets, acquiring 44 units with a gross asset value of $3,814,500. The remainder of the portfolio is expected to be acquired over the next four quarters.

“Sitestar Corporation (OTCQB: SYTE) (“Sitestar” or the “Company”) today announced that it closed on the first tranche of properties in its previously announced acquisition of the assets of Mt. Melrose, LLC. On January 10, 2018, Sitestar acquired 44 units with a gross asset value of $3,814,500.”

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