The value of the deal wasn't disclosed. But terms of the transaction call for the California companies to transfer their holdings to Boca First.
In return, Boca First will give the two firms an undisclosed conditional line of credit to fund operating costs of the company and new acquisitions Boca First may bring to Capitol Communities.
The deal is expected to close by June 15 if all conditions of the contract are met, Capitol Communities' president/CEO Michael G. Todd says in a prepared statement.
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