GLOBAL TECH INDUSTRIES GROUP (GTII) ENTERS INTO AGREEMENT WITH FIRST CAPITAL MASTER ADVISOR AND GCA EQUITY PARTNERS FOR ACQUISITION OF Multi-MILLION DOLLAR REAL ESTATE PORTFOLIO

- Transforms company and positions it as a real estate operating company

New York, NY, April 22, 2019 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (GTII) (“GTII”), a Nevada Corporation, announced today that it has entered into a binding agreement with First Capital Master Advisor and GCA Equity Partners, LLC to acquire from them a portfolio of real estate properties represented to have at closing an estimated enterprise value of approximately $450 Million. GTII has agreed to issue shares of its common stock and newly authorized preferred stock to the Seller in consideration for the assets.

        The portfolio is expected to be comprised of real estate development and construction projects including land development sites in growth markets, single family and multi-family homes, mixed-use master-plan projects including single family residential, high-density multi-family, and commercial elements, and other improved and unimproved assets located primarily in Texas and California. Details of the transaction are described in GTII’s recent 8K filing with the SEC, but essentially GTII’s new business model will be to acquire, develop, build, manage, and sell these types of real estate projects.

        According to an article published by Brad Broberg on the National Association of Realtors website in December of 2018, housing demand is significantly higher than supply in the United States, particularly in the west. Specifically, the article notes that “…research by a coalition of housing developers, Up for Growth, calculated that from 2000 to 2015 the nation constructed 7.3 million fewer units of housing than it should have based on a matrix of historic demand indicators such as home prices, population and income…California was by far the biggest underachiever with a shortfall of 3.4 million units…” GTII’s real estate development efforts will focus on capitalizing on that shortfall.

        Suneet Singal, Chief Executive Officer of First Capital Master Advisor stated, “We are excited by the opportunity to continue executing upon our value add investment thesis as it relates to real estate residential master plan development growth opportunities in the US Market. Given current consumer appetite, a low interest rate economic climate and the demand for solid real estate residential development assets, we believe this investment will be significantly accretive to the shareholder base of GTII.”

        “We see the potential for great synergy between the types of development assets we are contributing, the current high level of consumer need, and the public capital markets,” said Tom Braegelmann, Chief Executive Officer of GCA Equity Partners, “and we very much look forward to enabling the successful transformation of GTII to a well-positioned real estate development, construction, and management company.”         

        David Reichman, Chief Executive Officer of GTII, stated, “Our shareholders, management team, and board members have been patiently waiting for just the right acquisition for our corporate entity. We wanted a meaningful proposition that would be both substantive and productive, and believe that this acquisition embodies all of those traits. We are very pleased to be working with First Capital Master Advisor and GCA Equity Partners, both with extensive real estate investment experience, as we transform GTII into a publically traded real estate development and construction company.”

        GTII will likely file a notice of corporate action with FINRA after the closing to change its name and trading symbol, and prepare to uplist to a major stock exchange. The anticipated closing date of the asset contributions is May 15^th of this year, though that date may be amended by mutual agreement of the parties involved in the transaction.

About Global Tech Industries Group

Global Tech Industries Group, Inc. (GTII) is a publicly traded holding company, with subsidiaries and affiliates that hold intellectual properties and proprietary systems in the bioscience, clean tech, and energy-related businesses, as well as interests in restaurant services. For more information on Global Tech Industries Group, Inc., please call 212.204.7926, and see our website: www.GTII- US.com.