UCASU to
Acquire First Property for Airbnb-based
Innovative
Strategy
Targeting
$60
Billion Market
Atlanta,
GA -- October 26, 2020 -- InvestorsHub NewsWire
-- UC
Asset LP (OTCQX:
UCASU) 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.
The
new investment strategy,
named SHOC (pronounced "shock" is an acronym for
Shared Home-
Office
Cluster), 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.
"The
US hotel market was close
to $200 billion before COVID-19 pandemic, and about
thirty
percent of
that, or, $60
billion, focuses
on business travelers,"
explains
Greg Bankston, managing
general partner of UC Asset. "But
as more businesspeople shift their daily operation from
conventional office spaces to home offices, we
believe they will
prefer the familiarity of a home-office
environment on the road as well. We
predict conventional
hotels
will
lose these customers to virtual
accommodations
that
can provide a
home
office environment."
"The
COVID-19 pandemic has accelerated the transition from conventional
office space to home offices, and
should accelerate
the transition from conventional hotel to shared
home-office accommodation,"
Bankston projects. "UC Asset is a real estate investor and
redeveloper.
We
excel in residential property renovation
and have
mastered
the art of turning
distressed
residential properties into comfortable, safe and
cost-efficient
accommodations. With
proper management, we are confident that our new product, SHOC
(Shared Home Office Cluster), will attract a new generation of
business travelers on shared accommodation platforms such as
Airbnb."
The
1st
property under contract is located in
the
city East
Point,
GA. Downtown
East
Point is approximately
4
miles,
a
10-minute
drive from the airport, and the Metro station at East Point is the
second stop from the Airport station.
"Hartfield-Jackson
Atlanta International Airport is the busiest
airport in the world, serving 110
million passengers
in the year of 2019," shares Greg Bankston. "The
City of East Point is right on the way from the airport to downtown
Atlanta, making
it the
ideal location to build our SHOC business targeting business
travelers."
East
Point harbors
some
of
the most
underdeveloped communities
in
metropolitan
Atlanta. In the past years, the
city of Atlanta has
launched
multiple mega initiatives to address the issue of poverty and
improve local business activities in underdeveloped
communities.
"Investment
in underdeveloped
communities we believe will yield
extraordinary return. Our
investments in those communities are among the most
successful in our
company portfolio. One
project closed last year produced 48% annualized return over a
period of 11 months, simply from the appreciation
of property
value," says
Bankston,
"With our new
and innovative business model of SHOC, we will be able to add
constant cash flow on the top of property value
appreciation."
"It
is not only great
for our business,
but our
investments will
also
bring
income to underdeveloped
communities and
help
reduce inequality."
Says
Larry Xianghong Wu, the founder of UC Asset.
"We
will seek to partner with local manuniciplalities and explore
potential public-private-partnerships, using SHOC to build a
platform for community growth."
##
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
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.
For More
Information Contact:
Christal Jordan |
Investor Relations Director, UC Asset LP
cjordan@ucasset.com |
678-499-0297