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Global Asset Management Group (OTC:GAMG) outlined progress on acquiring and redeveloping the former Memorial Hospital campus in Pawtucket, Rhode Island into a mixed-use community focused on affordable and veteran housing.
The approximately 386,404-square-foot property is expected to reach a stabilized value of about $92 million, with projected annualized stabilized cash flow of roughly $7.8 million. Current plans contemplate around 200 residential units plus retail, healthcare, wellness, and community amenities. GAMG has also started the process to uplist its common stock to the OTCQB Venture Market, aiming to enhance market visibility and participation.