UCASU saved on cannabis property's
target price by 60% through due diligence
Atlanta, GA -- December 13, 2021 -- InvestorsHub NewsWire -- UC
Asset LP (OTCQX:
UCASU) announces the company's management team has just
concluded the phase I due diligence on a piece of cannabis property
in Oklahoma, and already reduced the target price by almost
60%.
"Our LOI with the seller, came into effect on December 6, gave
us 60 days to conduct our due diligence," explains Greg Bankston,
managing general partner of UC Asset. "Last week our management
team traveled to Oklahoma for a thorough on-site inspection. Based
on our findings, we successfully challenged its revenue projection,
which leads to us convincing the seller to reduce the target price
to $900,000, from the original asking price of $2.2 million."
Bankston confirms UC Asset may request further reduction of the
purchase price, depending on the findings of its due diligence in
the coming weeks.
"Our management's goal is to acquire the best properties at best
prices," says Larry Wu, founder of UC Asset. "Our company's
acquisition strategy includes applying a high standard of due
diligence on any target acquisitions, in an effort to protect the
interest of our investors."
If UC Asset acquires the property, the firm will lease the
property to licensed growers, implementing a business model similar
to those of established public companies, such as Power REIT (NYSE:
PW). In February 2020, Power REIT announced expanding its portfolio
in greenhouses for both food and cannabis cultivation. In less than
2 years since this announcement, its stock price has soared from
$8.45 (February 03,2020) to $63.10 (December 10, 2021), an increase
of 750%.
With a goal to replicate Power REIT's success, UC Asset has
developed a pipeline of deals of cannabis properties.
Bankston confirms that the company has located another similar
property in Oklahoma, a number of properties in California, as well
as opportunities in Georgia the firm's home state.
The company has also entered into an umbrella LOI deal to invest
into cannabis properties operated by OTC company PURA Inc (OTC:
PURA).
"Our team is extremely excited about the upcoming year,"
exclaims Bankston. "We are working round the clock to bring the
best out of these deals. Our ultimate goal is to secure
properties that will allow us to join Power REIT and a select group
of other forward-thinking investors, as trendsetters in providing
opportunity for cannabis cultivation while creating remarkable
profit for our investors."
About UC Asset LP
UC Asset LP is a limited partnership
formed for the purpose of investing in real estate with innovative
strategies, concentrating in metropolitan areas of Atlanta,
GA. 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 | Executive Director, UC Asset LP
cjordan@ucasset.com |
678-499-0297