LOS ANGELES--(BUSINESS WIRE)--Primco Management Inc. (PMCM), a fully integrated multi-media entertainment and real estate development company, is pleased to announce that it has opened escrow towards the acquisition of land, related property development plans /tract divisions and building permits obtained to date, to proceed towards the construction and sale of its first property development known as “Tuscany Villas.” This very attractive, upscale 60 townhouse development sits on a prime, previously undeveloped, 3.55 acre in Corona, California – a rapidly expanding region of greater Los Angeles. The total cost of the property acquisition is $4,455,000 with closing is scheduled on or before December 3, 2013.

Primco’s real estate development division is headed by Vice President of Operations, Ramiro Guzman. As a licensed real estate broker by the DRE since 1991, Mr. Guzman has owned, operated and managed real estate and construction companies, with a proven track record of outstanding results in acquiring, rehabilitating, and selling properties.

“We are excited to acquire such a well-positioned and strategically important residential construction such as `Tuscany Villas' in Corona, California, thereby providing our shareholders with hard assets and diversification,” stated David Michery, CEO. “The Los Angeles area is leading the country’s rebound with rapid appreciation in real estate market values, and we expect to continue to ride the wave for years to come. The Tuscany Hills project will be completed in four phases of 15 units each, which will enable us to finance subsequent phases with the cash flow from earlier sales revenue. This will be the initial development under our multi-year joint venture with Total Construction Resources, and we are currently in the planning phase of additional lucrative opportunities under this agreement. Primco is projecting net profits in excess of $5 million from the sale of townhouse units.”

About Primco Management Inc.:
Through its wholly-owned subsidiary, ESMG Inc., the Company operates as an integrated entertainment company with divisions in music and film production and distribution, and is launching additional divisions in television, radio and online sports. Primco also operates in various aspects of the real estate industry. Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements.
The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors.
Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.