ATLANTA, Dec 13, 2021 / PRNewswire / – UC Asset LP (OTCQX: UCASU) announces that the company’s management team is in the process of completing Phase I due diligence on a piece of cannabis property in. has completed Oklahoma, and has already lowered the price target by almost 60%.
“Our LOI with the seller came into effect on 6th of December, gave us 60 days to do our due diligence, “explains Greg Bankston, managing general partner of UC Asset. “Last week our management team went to see you Oklahoma for a thorough on-site inspection. Based on our results, we have successfully challenged the sales forecast, which leads to the fact that we convince the seller to set the target price on. to lower $ 900,000, from the original offer price of $ 2.2 million. “
Bankston confirms that, depending on the results of its due diligence, UC Asset may request a further reduction in the purchase price in the coming weeks.
“The aim of our management is to acquire the best properties at the best prices,” says Larry Wu, Founder of UC Asset. “The acquisition strategy of our company includes the application of a high standard of due diligence for all intended acquisitions in order to protect the interests of our investors.”
When UC Asset acquires the property, the company will lease the property to licensed producers using a business model similar to that of established public companies such as Power REIT (NYSE: PW). In February 2020, Power REIT announced that it is expanding its portfolio of greenhouses for growing food and cannabis. In less than 2 years since this announcement, the share price has been $ 8.45 (February 03, 2020) to $ 63.10 (December 10, 2021), an increase of 750%.
With the aim of replicating the success of Power REIT, UC Asset has developed a pipeline of deals in cannabis real estate. Bankston confirms that the company has another similar property in. has found Oklahoma, a range of properties in California, as well as possibilities in Georgia Company’s home state.
The company has also entered into an umbrella LOI deal to invest in cannabis real estate operated by OTC company PURA Inc (OTC: PURA).
“Our team is really looking forward to the coming year,” said Bankston. “We’re working around the clock to get the most out of these deals. Our ultimate goal is to secure properties that will enable us to set Power REIT and a select group of other forward-thinking investors as trendsetters in providing cannabis growing opportunities to connect. ” while generating remarkable returns for our investors. “
About UC Asset LP
UC Asset LP is a limited partnership established for the purpose of investing in real estate with innovative strategies and targeting metropolitan areas of. concentrated Atlanta, GA. For more information on UC Asset, please visit: www.ucasset.com
This press 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 the industry results to differ materially from these statements . You are cautioned not to place undue reliance on these forward-looking statements. Unless otherwise required by federal securities laws, we assume no obligation to publicly update or revise any forward-looking statements after the date of this press release. None of these forward-looking statements should be taken as an assurance by us or any other person that the goals and plans set out in this press release will be achieved or carried out.
For more information contact:
Christal Jordan | Executive Director, UC Asset LP
[email protected] | 678-499-0297
SOURCE UC Asset LP