UCASU Strong in Cash After Major
Transactions and Looking for Investment Opportunities
Atlanta,
GA -- June 29, 2021 -- InvestorsHub NewsWire
-- UC
Asset LP (OTCQX:
UCASU) announced the company has closed
three transactions in the past 3 business days to restructure its
portfolio, with the expectation of achieving a better return on
investment.
The
three transactions include two sales of detached residential
properties, representing nearly a $2 million
dollar decrease in the company's portfolio held under its
subsidiary Atlanta Landsight LLC, and a purchase of a potential
SHOC ("Shared Home-Office Cluster") property, representing an
addition of approximately $750,000 into the portfolio held under
its
subsidiary SHOC Holdings LLC.
The
recent sales of approximately $2 million added to one other sale
earlier this year, and four other sales since April, 2020, which
represent an approximate $5 million dollar decrease of the
company's holdings in detached residential
properties. UCASU also sold a 72-acre farmland held by its
subsidiary UCF Development for an additional $1.3
million.
These
operations are part of a well-researched strategy, which was
outlined in a 'White Paper' released by UCASU management
on
February 23, 2021 of this year. In the document,
by
researching analyzing relevant data and recent
trends, the
company concluded that despite residential properties experiencing
unusual value soaring in 2020 and into 2021, the hike in
residential property
prices was an unexpected result of the COVID-19 pandemic, and
therefore unsustainable. Additionally, UCASU concluded that the
fast rising of building costs made it undesirable to invest into
residential homes that need redevelopments. So far,
the market
trend has seemingly confirmed UCASU's projections.
As a
result, UCASU's cash reserve and other liquid assets has surpassed
$5 million before the newest purchase of SHOC property. UCASU
has retained a strong cash position and is actively seeking
more
investments, focusing on properties that can be used for innovative
business purposes, such as SHOC. SHOC
is a disruptive new concept for investment of real properties of
which each bedroom is designed as an individual business lodge
equipped with office capabilities. These home-office equipped lodge
spaces can be rented out on platforms such as Airbnb, Vrbo or
through corporate partnerships, targeting business
travelers.
The
Company is also considering other innovative
options,
including
the possibility of a stock buyback,
to
maximize shareholder gain from its strong cash
position.
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