Webstar Technology Group Signs Letter of Intent to Acquire The Forge Project in Downtown Atlanta

Rhea-AI Summary

Webstar Technology Group (OTCMKTS: WBSR) has signed a Letter of Intent to acquire The Forge Project, a massive 3.0+ million square foot mixed-use development in Downtown Atlanta's Castleberry Hill district. The project features residential units, hotels, flex space, sports entertainment complex, retail, and a cultural center, with direct access to major transportation hubs. The company has appointed Nelson Worldwide as lead architect, expanding their role from the $650 million Bear Village Resort project. Notably, WBSR plans to tokenize The Forge Project using blockchain technology, allowing investors to purchase fractional ownership through dividend-paying digital tokens.

Positive

• Strategic expansion into high-density urban development with 3.0+ million square foot mixed-use project
• Prime location with highest allowable density zoning in Downtown Atlanta
• Innovative tokenization approach offering enhanced liquidity through blockchain-based fractional ownership
• Partnership with renowned architect Nelson Worldwide, leveraging their expertise from landmark projects

Negative

• Financial terms and acquisition costs not yet disclosed, creating uncertainty
• Project execution risks associated with large-scale urban development
• Potential need for significant capital raising to fund the development

ATLANTA, May 1, 2025 /PRNewswire/ -- Forge Atlanta Asset Management, LLC, a subsidiary 80% owned by Webstar Technology Group (OTCMKTS: WBSR), is pleased to announce it has signed a Letter of Intent (LOI) to acquire and redevelop The Forge Project—a 3.0+ million square foot mixed-use development in Downtown Atlanta's Castleberry Hill district.

The Forge, fully entitled and shovel-ready, is positioned to become one of Atlanta's most transformative real estate endeavors, featuring residential units, boutique and condo hotel rooms, flex space, sports entertainment complex, restaurant and retail, a cultural center, and direct access to MARTA and I-20, I-75 and I-85.

The site sits within the SPI-1 SA1 zoning corridor, offering the highest allowable density in the city, and represents an exceptional development opportunity in South Downtown Atlanta.

"This acquisition marks a significant milestone in Webstar's strategic expansion into high-density urban development," said Ricardo Haynes, CEO of Webstar Technology Group. "With this LOI, we are poised to bring new life to Atlanta's urban core while creating long-term value for our investors and stakeholders."

In February, Webstar Technology Group selected Nelson Worldwide—renowned for landmark projects like The Battery and the St. Regis Hotel in Atlanta—as the lead architect for its $650 million Bear Village Resort in Commerce, Georgia, and has now expanded that role to include The Forge Project in Downtown Atlanta.

Additionally, as announced previously and in alignment with its forward-looking investment strategy, Webstar has committed to tokenizing The Forge Project using blockchain technology. Through digital securities offerings, investors will be able to purchase fractional ownership in the project via dividend-paying digital tokens, offering unprecedented liquidity and transparency in commercial real estate investing.

Further details on the acquisition and financing structure will be disclosed in the coming weeks.

About Webstar Technology Group
Webstar Technology Group is an innovative real estate development firm dedicated to transforming urban and resort landscapes through smart design, community focus, and cutting-edge technology. The Company is actively engaged in pioneering the tokenization of real estate assets to create inclusive investment opportunities while delivering high-quality, environmentally responsible developments.

Investor Contact:
Webstar Technology Group
P: (404) 994-7819
E: info@webstartechgroup.com

Media Contact:

Donald R. Keer, P.E., Esq.
Corporate Counsel
P: (254) 704-2675

Forward Looking Statements Disclaimer: This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Webstar Technology Group Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Such forward-looking statements include the words "vision," "seek", "grow", "plan" and other expressions of a forward-looking nature. More information about the potential factors that could affect the business and financial results is and will be included in Webstar Technology Group Inc.'s filings with the OTC Markets, Securities and Exchange Commission and/or posted on the company's website.

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SOURCE Webstar Technology Group

FAQ

What is The Forge Project that WBSR is acquiring in Atlanta?

The Forge Project is a 3.0+ million square foot mixed-use development in Downtown Atlanta's Castleberry Hill district, featuring residential units, hotels, flex space, sports entertainment, retail, and cultural facilities with direct access to major transportation routes.

How will Webstar Technology Group (WBSR) implement blockchain in The Forge Project?

WBSR will tokenize The Forge Project using blockchain technology, allowing investors to purchase fractional ownership through dividend-paying digital tokens, providing enhanced liquidity in commercial real estate investing.

Who is the architect for WBSR's Forge Project in Atlanta?

Nelson Worldwide, known for projects like The Battery and St. Regis Hotel in Atlanta, has been appointed as the lead architect for The Forge Project.

Where is The Forge Project located in Atlanta?

The Forge Project is located in Downtown Atlanta's Castleberry Hill district, within the SPI-1 SA1 zoning corridor, offering the highest allowable density in the city.

What are the key features of WBSR's Forge Project development?

The project includes residential units, boutique and condo hotel rooms, flex space, sports entertainment complex, restaurant and retail, a cultural center, and direct access to MARTA and major highways (I-20, I-75, I-85).