Independent Film Development Corporation (OTCPK:IFLM) intends to acquire real estate. It has created limited liability co (LLC) designed to house fund in order to facilitate purchase of real estate for development. IFLM actively seeks distressed and below market properties that are outside the scope of the major developers and / or cash strapped operators.

The company target properties below market for reasons ranging from creditor pressure and poor management to a lack of cash to manage properties; however, the geographic focus is domestic and in regions with high growth potential. Chief Executive Officer, David Garland said: "We are constantly looking for subject properties that can either be renovated and re-sold or can be managed for income. We believe that the Southern California market is the right place to start and to execute on our strategy.

As I've said since Day 1, our passion is to be pioneering the integration of entertainment and hospitality. Real estate is a core component of this strategy, and this fund is a natural extension of our business model."