SALT LAKE CITY, UT--(MARKET WIRE)--Jan 9, 2009 -- Nexia Holdings, Inc. (OTC BB:NXHD.OB - News) reported that the new management of Wasatch Capital Corporation has identified seven new properties for acquisition under the real estate acquisition strategy being implemented under Richard Surber's direction. The total value of the properties is estimated to be $1.6 million and the company is currently conducting reviews and due diligence on the properties to establish the final purchase numbers and condition of the individual properties. The properties range in estimated value from $90,000 to $480,000 and are all located in the northern Utah area, from the Salt Lake Valley north to Ogden, Utah.
Richard Surber, CEO of Nexia Holdings, stated, "These acquisitions would bring our residential property holdings up to a total of 10 properties and I believe that the growth of our portfolio would make future acquisitions easier. The success and future operations of Wasatch Capital Corporation under its new management utilizing our real estate acquisition strategy appear to be on track."
About Nexia Holdings Inc.
Nexia Holdings Inc. (OTC BB:NXHD.OB - News), headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in real estate, health & beauty, and fashion retail. Nexia, through its subsidiary Green Endeavors, LTD (Other OTC:GRNE.PK - News), www.green-endeavors.com, owns a majority interest in Landis Lifestyle Salon, www.landissalons.com, a hair salon built around the world-class AVEDA(TM) product line. Through its Style Perfect, Inc. subsidiary, Nexia owns the innovative retail and design firm Black Chandelier and its related brands. Black Chandelier currently operates one retail location and online store at www.blackchandelier.com. For more information, visit us at www.nexiaholdings.com.
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-K for December 31, 2007 and the subsequent quarters of 2008. Nexia's disclosures can be viewed at www.nexiaholdings.com and www.sec.gov. The success of the real estate acquisition strategy is conditioned upon a substantial increase in liquidity of Nexia's common stock, an eventual recovery in the real estate markets that Nexia invests in, and many other factors which will emerge as Nexia executes upon its acquisition strategy.
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