Source: Gaucho Group Holdings, Inc.
NEW YORK, NY / ACCESSWIRE / April 25, 2019 / Gaucho Group Holdings, Inc. (OTCQB: VINO), a company with a collection of luxury assets, real estate holdings and premium wines in Argentina, today announced that they have reached an agreement with Compass Real Estate, in conjunction with Argentine Real Estate firm Ginevra Sotheby's International Realty, to market and sell home sites at Algodon Wine Estates, a 4,138 acre luxury real estate development with over 400 estate lots for sale in San Rafael, Mendoza, Argentina.
Compass Real Estate (www.compass.com), dubbed “the country’s fastest-growing luxury real estate technology brokerage company” by Forbes Magazine, is set to revamp Algodon Wine Estates’ marketing and global sales initiatives by utilizing its network of 7,000 agents and over 1,000 employees. Compass’ business model has attracted investment capital from Fidelity, Softbank, Goldman Sachs, and several other corporations and individuals.
In addition to this, Algodon Wine Estates intends to leverage Ginevra Sotheby's International Realty brand and network with more than 18,000 sales associates located in 825 offices in 61 countries and territories worldwide, while utilizing the local expertise of the GNV Group to form Ginevra Sotheby's International Realty. Ginevra Sotheby's International Realty is a leading luxury real estate firm in Buenos Aires, Argentina with listings in the most prestigious neighborhoods in the city of Buenos Aires and the rest of the country. Through Ginevra Sotheby’s International Realty’s website (ginevrasir.com), and Compass, Algodon Wine Estates’ listings will be marketed online at sothebysrealty.com to a global clientele.
“As you know, we have embarked upon a journey to make Algodon the finest wine, wellness, culinary, and sport destination - not only in Argentina - but in in the world,” said Scott Mathis Chairman and CEO of Gaucho Group Holdings, Inc. “This has culminated in us partnering with Compass, one of the fastest growing and most technologically adept real estate firms in the world. Compass, with the assistance of local Buenos Aires Real Estate agency Ginevra Sotheby's International Realty, is set to launch a major marketing push in the next quarter that could possibly reach millions of potential buyers.” He went on to say, “the road in Argentina has not been the smoothest over the past few years, but now we believe the timing could not be better… with an impending election in October, on a re-election of incumbent President Mauricio Macri, we anticipate a positive paradigm shift, attracting international interest in the Argentine economy, and in turn domestic real estate assets. It is because of this potential shift that we believe Argentina can become the global opportunity of the next decade.”
Please visit www.algodonwineestates.com to learn more about this real estate development project.
About Algodon Wine Estates
Algodon Wine Estates is a 4,138 acre (1674 ha) world-class wine, wellness, culinary and sport resort, and luxury real estate development, located in the rolling hills of the Sierra Pintada Mountains in San Rafael, Mendoza, Argentina. This wine and golf community is a global destination that includes approximately 400 lots ranging from .5 to 7 acres, with 109 lots from Phase 1 of the master plan currently available for private sale and development. Surrounded by the natural beauty of vineyards, fruit orchards and olive groves, many lots have pre-existing vines and groves, and a significant number of available Phase 1 lots are situated directly on the estate's 18-hole golf course, offering golf, vineyard and mountain views. The luxury destination is truly unique in the world, where residents can step right outside their front door onto the golf course and find themselves among meticulously manicured vines planted in the 1940s.
About Gaucho Group Holdings, Inc.
For more than ten years, Gaucho Group Holdings' (formerly Algodon Group) mission has been to source and develop opportunities in Argentina's undervalued luxury real estate and consumer marketplace. With our proprietary collection of wine, hospitality, fashion brands, and real estate holdings as a foundation, we seek to build our luxury brands of Gaucho - Buenos Aires and ALGODON, brands of prestige, distinction and elegance. We begin with a focus on the quality and reputation of Algodon's award-wining wines, which serve as our ambassador for our luxury lifestyle properties and other real estate assets. As we continue to produce the ultra-fine wines for which we have become recognized, we expect that our reputation for quality will continue to grow and accordingly increase the value of our brand and real estate holdings. Algodon's luxury assets are currently concentrated in Argentina, which we believe represents one of the most undervalued investment sectors in the world today. For more information, please visit www.gauchogroupholdings.com.
Cautionary Note Regarding Forward-Looking Statements
The information discussed in this press release includes "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). All statements, other than statements of historical facts, included herein concerning, among other things, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward looking statements. These forward-looking statements are identified by their use of terms and phrases such as "may," "expect," "estimate," "project," "plan," "believe," "intend," "achievable," "anticipate," " will," "continue," "potential," "should," "could," and similar terms and phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not be considered to be) guarantees of future performance. Among these risks are those set forth in a Form 10-K filed on April 1, 2019. It is important that each person reviewing this release understand the significant risks attendant to the operations of Gaucho Group Holdings. Gaucho Group Holdings disclaims any obligation to update any forward-looking statement made herein.
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Gaucho Group Holdings, INC.
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The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. This press release may contain certain statements of a forward-looking nature relating to future events or future business performance. Any such statements that refer to Algodon Wines & Luxury Development Group (Algodon Group) and its respective subsidiaries ("the Company") estimated or anticipated future results or other non-historical facts are forward-looking and reflect the Company's current perspective of existing trends and information. These statements involve risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The forward-looking statements speak only as of the date set forth above. The Company undertakes no obligation to update publicly any forward-looking statement, whether because of new information, future events or otherwise.
Eric Stear, Corporate Communications & Marketing Manager
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