UCASU - UC Asset Closes $1.3 Million Sale of 72-Acre Texas Property

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Nov 06, 2020, 11:04 ET

ATLANTA, Nov. 6, 2020 /PRNewswire/ -- 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.

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Contacts
Christal Jordan | Investor Relations Director, UC Asset LP
[email protected] | +1-678-499-0297

SOURCE UC Asset LP