OFA Group enters joint venture for senior care facility development

LOS ANGELES - OFA Group (NASDAQ:OFAL), a micro-cap architecture and real estate innovation company valued at $20.89 million, announced Monday it has entered into a binding Letter of Intent with Next Investments LLC to form a joint venture for developing a senior care facility. According to InvestingPro data, the company’s stock has experienced significant volatility, declining over 66% year-to-date.

According to the press release, OFA will provide capital investment and architectural services through its OFA Finance and OFA Architecture divisions, while Next Investments will contribute the property and manage the facility upon completion.

The joint venture remains subject to negotiation and execution of definitive agreements.

Thomas Gaffney, Chief Operation Officer at OFA, stated the venture aims to "apply our financial and architectural expertise to high-growth, asset-backed opportunities" in the senior care sector.

The company indicated this initiative aligns with its broader strategy to expand into asset management and real estate verticals, including senior care, crypto-enabled lending, and property technology.

OFA Group describes itself as an architectural and AI tool development firm that provides services spanning architecture, interior design, planning, and AI-driven building code compliance tools.

The announcement did not disclose financial terms of the arrangement or the expected timeline for project completion.

In other recent news, OFA Group has made significant strides in its business strategy. The company announced the launch of a $100 million digital asset treasury, appointing Bitwise Asset Management to oversee the crypto asset strategy. This initiative is part of a broader plan to integrate cryptocurrency into its balance sheet, aiming to generate yield opportunities and provide working capital for future growth. In addition to this, OFA Group has begun accepting cryptocurrency payments for its architectural services, supporting various digital currencies like Bitcoin and Ethereum. The firm has also unveiled a Digital Asset Strategy to implement blockchain technology in senior housing development, enhancing transaction transparency. Furthermore, OFA Group has signed a Letter of Intent to acquire a 60% controlling stake in Aspire Homes Realty Inc. and its affiliated lending platform, RateDNA, Inc. These acquisitions are backed by AlphaX, a private investment and development firm. These developments reflect OFA Group’s ongoing efforts to integrate advanced technology into its operations.

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