January 25, 2010 (FinancialWire) — – ValueRich, Inc. (AMEX: IVA) said that its VR Preserve Development, LLC subsidiary has acquired certain assets related to the Tesoro Preserve Development located in Port St. Lucie, Florida.

The Tesoro Preserve Development is a private 341-acre community with 440 individual home sites of real property located on the St. Lucie River in St. Lucie County, Florida.

Included in the asset purchase was six waterfront single-family residential lots, seventy-six single family residential lots, and a roughly seven acre commercially zoned parcel.

According to a ValuRich statement, there was over $30 million worth of infrastructure put into The Tesoro Preserve Project by the original developer and “this deal could only take place in the environment we are currently in.”

Florida-based ValueRich operates online media-based properties for corporate and financial professionals. It also has acquired certain assets of The Tesoro Preserve Development.

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