Delma Resorts has announced the reverse takeover of Aydon Income properties. Aydon will acquire Delma Resorts for $50,327,000 and, prior to the closing, will change its name to the Delma Group of companies Inc (or such other name to be agreed by the parties). At the time of closing, the Delma Group will have net assets of at least $50,000,000. You can read the press release here.
Delma Resorts is the owner of 42 Degrees North, Ellicottville a master planned resort community offering high quality vacation homes and Ellicottville Investment Property in Ellicottville, NY. Ellicottville is located in Western New York, an hour south of Buffalo, two and a half hours from Toronto, Canada and three and a half hours from Cleveland and Pittsburgh. Ellicottville is home to Holiday Valley and Holimont ski hills. Holiday Valley is consistently ranked in the top 5 for Ski Resorts in the East and Holimont is North America’s largest private ski hill. It is less than a 5 minute drive from 42 Degrees North to both of Ellicottville’s ski hills.
Delma Resorts owns projects across North America and Europe and, as well as enjoying Ellicottville, purchasers at 42 Degrees North can enjoy use of Delma’s other projects. So far, over 50% of the lots have been sold in Phase 1 at 42 Degrees North. Purchasers can choose 4 to 7 bedroom homes on extremely large lots (the average lot for sale is over 5 acres) with prices starting from $369,000 for the home and land. A full list of available lots and homes for sale is available here along with a site plan and house designs. Delma Resorts offers a full rental management program so that owners can generate revenue while they are not using their home. Rental returns from similar properties at Delma’s Blueberry Lake Resort in Quebec, Canada have generated in excess of $70,000 per annum.