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