UCASU
announces leadership
appointment
and $1 million
initial capital for Airbnb-based SHOC investment
ATLANTA, GA --
December 29, 2020 -- InvestorsHub NewsWire
-- UC
Asset (UCASU),
an Atlanta-based global real estate
investment firm, announced the company has
invested initial
capital of approximately $1 million into SHOC Holdings
LLC, and appointed Greg Bankston, who
currently serves as a managing member of UCASU's general partner,
as CEO of SHOC. The company believes
Bankston's twenty-year real estate background and knowledge of the
city's history make him the ideal candidate.
SHOC, a wholly-owned investee
of UCASU, will acquire and develop properties under UCASU's
Airbnb-based innovative
property investment strategy.
The
new strategy
will focus
on home office technology for traveling professionals.
SHOC
aims to
capitalize on a new industrial trend, i.e., the switch of business
travelers from conventional business hotel to shared
accommodation
via platforms such as Airnbnb
and
Vrbo.
UCASU's
management projects a $60 billion market in the coming years for
this new trend.
"It is a
revolution happening across the board," shares Larry Wu, founding
partner of UC Asset, "Just like conventional taxi
businesses
are being
taken over by shared-ride companies like Uber (NYSE:
UBER) and Lyft, we believe
conventional hotels
will be taken
over by technology
driven shared-accommodation
spaces."
Shared
accommodation properties have attracted
investors in the past year, but Wu claims there are no
institutional
investors who specialize in shared
accommodation properties
equipped with
home-office facilities, which
will be
almost
exclusively marketed to business
travelers.
"Shared
accommodations have replaced a fair share of vocational resorts.
But conventional hotels who serve business travelers have held
their grounds," explains Wu. "Before
COVID-19, conventional hotels in central business districts or
around airport bubs were still doing extremely well. Occupancy rate
of these hotels stayed about 80% even 90% in major metros like
Atlanta."
But COVID-19
has expediated a transition in work habits
and many people
will permanently spend more
time in home office spaces.
This trend, according to the UCASU, will prompt
travelers
to
choose home-office style shared-accommodations over conventional
hotels.
Recently,
UCASU retained a top-tier research firm to conduct market survey,
and the results seemingly confirmed UCASU's belief that business
travelers will use more shared-accommodations, if those
share-accommodations are equipped with home office
facilities. UCASU claims that its management team is
"beyond
excited"
at
this first round of research
data.
UCASU,
through its
other
investees, has
made
successful
investments
into
home
renovations.
It
believes
the new
strategy, brand-named SHOC (Share-Home Office Community)
will
add cash
income to
profit from
house renovation, and possibly
improve the
total ROI to a level remarkably higher than market
average.
"While we will
retain our other investments, we are very committed to this new
investment strategy because of its brilliant prospect,"
says
Wu. "The initial
$1 million will allow us to test this new strategy on a practical
scale. Meanwhile we will
explore all options to expand on
this new strategy. Our goal is to form a $10 million portfolio of
shared home office properties over
the next 12
months."
About UC Asset:
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
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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