Woodmont Lexington, LLC acquired 65% stake in Mt Melrose, LLC from Enterprise Diversified, Inc. for $0.1 million.
July 02, 2019
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Woodmont Lexington, LLC acquired 65% stake in Mt Melrose, LLC from Enterprise Diversified, Inc. (OTCPK:SYTE) for $0.1 million on June 27, 2019. As consideration for the transaction, Woodmont paid Enterprise Diversified $100,000 and agreed to assume full responsibility for the management and operation of Mt Melrose and its real estate portfolio. Enterprise Diversified has retained a 35% membership interest in Mt Melrose.
Woodmont Lexington, LLC completed the acquisition of 65% stake in Mt Melrose, LLC from Enterprise Diversified, Inc. (OTCPK:SYTE) on June 27, 2019.
Enterprise Diversified, Inc. is focused primarily on financial products and services. The Company operates through four segments: Asset Management Operations, Real Estate Operations, Internet Operations and Other Operations. Asset Management Operations segment includes activities from various joint ventures, service offerings and initiatives undertaken in the asset management industry. Real Estate Operations segment includes activities related to the management of legacy properties held for investment and held for resale through EDI Real Estate located in Roanoke, Virginia, and its equity in Mt Melrose, LLC, which managed properties held for investment and held for resale located in Lexington, Kentucky. Internet Operations segment activities related to its sale of Internet access, hosting, storage and other ancillary services. Other Operations segment include corporate operations and nonrecurring or one-time strategic funding or similar other activity.
ENTERPRISE DIVERSIFIED, INC. 
