ATLANTA, Jan. 26, 2021 /PRNewswire/ — UC Asset (OTCQX: UCASU), an Atlanta-based global real estate investment firm, announced that its subsidiary, SHOC Holdings LLC, has developed a proprietary architect design for its unique Shared Home-Office Community (SHOC) properties.
This proprietary architect design combines the comfort of a residential property with the convenience of a business hotel meshed with the hi-tech amenities of a home office. The prototype is a 5-bedroom property, with each bedroom designed as an individual business lodge equipped with state-of-the-art home office capabilities. Each room can be rented individually as a conventional hotel room for business travelers.
In comparison to conventional hotel rooms, SHOC are equipped with home-office facilities such as hi-speed internet, video conferencing, easy access to office accessories such as printers and scanners, and other tools to empower today’s business travelers. But it also presents the personalized charm, including home-style full-equipped kitchen, to serve travelers with a home office away from home.
“This is the first design of its kind. We are pleased that our architect has been able to turn our vision into a viable blueprint.” Says Greg Bankston, CEO of SHOC Holdings LLC, “We’re excited to begin on our first design, and will continue to create more designs to accommodate different lots and environments.”
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 hotels 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 ground,” explains Wu. “Before COVID-19, conventional hotels in central business districts or around airport hubs were doing extremely well. We know the occupancy rate of these hotels stayed about 80% even 90% in major metros like Atlanta.”
“COVID-19 has expedited a transition in corporate work habits resulting in many people focusing on home office spaces. Our research suggests this trend will prompt travelers to choose home-office style shared-accommodations over conventional hotels,” Wu shares.
UCASU has established a reputation of successful investments into home renovations. Now that UCASU will renovate acquired homes into SHOC properties, this new and innovative investment strategy will not only create value-improved new properties, but also produce a group of Airbnb rentals for continuous cash income.
UCASU’s 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. For more information about UC Asset, please visit: www.ucasset.com
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] | 678-499-0297
SOURCE UC Asset