UCASU Strong in Cash After Major Transactions and Looking for Investment Opportunities

News provided by

Jun 29, 2021, 12:05 ET

ATLANTA, June 29, 2021 /PRNewswire/ -- 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
[email protected]
+1 678-499-0297

SOURCE UC Asset LP