AUSTIN, Texas, June 02, 2026 (GLOBE NEWSWIRE) -- Via IBN -- Suntex Enterprises, Inc. (OTC: SNTX) today announced the successful closing of its previously disclosed acquisition of approximately 100 acres of strategically located land in South Texas through its wholly owned subsidiary, Red Spur Land & Ranch Co.
Acquired for approximately $2.5 million, the property establishes a significant strategic land position and represents the first major deployment of the Company's long-term development platform focused on land ownership, development, construction, and infrastructure.
Management intends to advance planning efforts for a multi-phase mixed-use development designed to support the continued growth of the region. Preliminary concepts under evaluation include residential, commercial, hospitality, entertainment, and community-oriented components intended to create long-term economic value for the surrounding area.
The acquisition serves as a cornerstone asset within the Company's broader vision of building a vertically integrated development ecosystem capable of participating throughout the entire project lifecycle.
Red Spur Land & Ranch Co. will maintain ownership of the property while development planning and execution activities will be led by GoldenEra Development. Construction and infrastructure opportunities generated by the project are expected to leverage the capabilities of JA Development & Construction and Deep South Electrical Contractors, aligning multiple operating subsidiaries under a common development initiative.
South Texas continues to attract substantial investment across aerospace, energy, manufacturing, logistics, infrastructure, and technology sectors. In recent years, the region has benefited from billions of dollars in investment through the expansion of Space X's Starbase operations, major LNG and energy infrastructure projects, industrial manufacturing growth, transportation and logistics development, and increasing private-sector investment throughout the region.
Management believes these long-term economic trends, combined with continued population growth and infrastructure expansion, position South Texas as one of the most compelling development markets in Texas.
"This acquisition represents a defining moment for Suntex Enterprises," stated Javier Leal, Chief Executive Officer of Suntex Enterprises. "For years, we have focused on building operating businesses with the capabilities necessary to execute. Through Red Spur, GoldenEra Development, JA Development & Construction, and Deep South Electrical Contractors, we have assembled a platform designed to identify opportunities, allocate resources, and execute across multiple stages of value creation."
Leal continued, "Many companies begin with a vision and then spend years attempting to build the infrastructure and teams necessary to support it. We have taken the opposite approach. We spent years building the machine first. This acquisition represents the first major opportunity to bring those capabilities together under a unified development strategy."
"What excites us most is not simply the acquisition of 100 acres, but the opportunity to create significant value from it over time," added Leal. "We believe South Texas is entering a period of significant economic expansion, and we intend to participate in that growth through disciplined development, strategic asset ownership, and long-term execution. This property is the foundation for what we believe can become a flagship project within our development platform."
The Company has begun engineering evaluations, master planning initiatives, infrastructure assessments, and stakeholder engagement efforts as it advances the property's development strategy.
Management expects to provide updates regarding engineering progress, development milestones, project planning activities, and additional strategic initiatives related to the property in the near future.
About Suntex Enterprises, Inc.
Suntex Enterprises, Inc. (OTC: SNTX) is a diversified company focused on strategic asset ownership, development, construction, infrastructure, manufacturing, and operating businesses. Through its ecosystem of subsidiaries, the Company seeks to identify opportunities, execute efficiently, and create long-term value through disciplined growth and operational excellence.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. Actual results may differ materially from those projected. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update forward-looking statements except as required by law.
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