UCASU - UC Asset Closes $1.3 Million Sale of 72-Acre Texas Property
November 06 2020 - 10:13AM
InvestorsHub NewsWire
Atlanta, GA --
November 6, 2020 -- InvestorsHub NewsWire -- UC Asset (OTCQX:
UCASU), a real estate investment and redevelopment company,
today announced closing the $1.3 sale of a 72-acre farmland parcel
located in Farmersville, TX. Puration, Inc. (OTC:
PURA), a lifestyle brand company, acquired the property in
conjunction with a new business
strategy.
The 72-acre
sale generates an approximate 55% gross rate of return for UC Asset
on the original $805,216 investment in the property acquired in
2016.
The sale also
contributes resources to UC Asset’s new SHOC strategy (pronounced
"shock" is an acronym for Shared Home- Office Cluster). In light of
the growing popularity and market for Airbnb like short-term
rentals with more amenities than a typical hotel room, UC Asset’s
SHOC strategy aims to acquire a cluster of distressed residential
properties in communities nearby major airports, renovating them
into cost-efficient home offices, and marketing them as shared
accommodations on platforms such as Airbnb, to serve business
travelers who prefer renting a shared home-office than staying at a
conventional hotel.
Last week,
UC Asset
announced a new contract to buy a lot located in a residential
community adjacent to Hartsfield-Jackson Atlanta International
Airport. It will be the first property acquired by the company
to implement its Airbnb-based innovative property investment
strategy.
About UC Asset
LP
UC Asset LP is
a limited partnership formed for the purpose of investing in real
estate for development and redevelopment, concentrating in
metropolitan areas of Atlanta, GA and Dallas, TX. For more
information about UC Asset, please visit: www.ucasset.com.
About Puration
Inc.
Puration, Inc.
previously had been a water purification company that began to
explore and develop new business opportunities focusing on the
emerging Cannabis Extractions Sector. In July 2015, the Company
entered into an agreement to acquire certain health & wellness
joint ventures from North American Cannabis Holdings, Inc.
resulting in its current product line of CBD infused bottled
flavored water products. The Company is focused on growing the
distribution and sales of its product line both domestically and
internationally. For more information on Puration,
visit http://www.purationinc.com.
Disclaimer:
This News
Release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause our
actual results, performance or achievements, or industry results,
to differ materially from any these statements. You are cautioned
not to place undue reliance on any those forward-looking
statements. Except as otherwise required by the federal securities
laws, we undertake no obligation to publicly update or revise any
forward-looking statements after the date of this news release.
None of such forward-looking statements should be regarded as a
representation by us or any other person that the objectives and
plans set forth in this News Release will be achieved or be
executed.
Contacts
Christal
Jordan | Investor Relations Director, UC Asset LP
cjordan@ucasset.com |
678-499-0297
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