ATLANTA--(BUSINESS WIRE)--Two additional properties listed by UC Asset, a real estate investment and redevelopment company, recently went under contract for a total sale price of over one million dollars.
According to UC Asset management, the first of the residential properties is a new renovation, and the second was renovated two years prior to being put on the market as a rental property. Both properties were listed in June 2020 and went under contract in a few short weeks. UC Asset did not place any additional properties on the market in the second quarter of 2020.
“We are pleased that both properties sold promptly, at the listed price, despite the market slowing down due to the pandemic,” says Greg Bankston, UC Asset, managing partner. “This is a testament to the efficiency of our team; we offered properties at the right price which connected with the needs of Atlanta real estate buyers. Our sales team did a magnificent job.”
In early May, UC Asset announced a new investment strategy, to take over mortgage payments from owners of income-producing properties that may be experiencing financial loss due to the COVID-19 pandemic. In exchange for absorbing the mortgage payment for those property owners, UC Asset will acquire a fair share of the property and be entitled to receive all or a percentage of future profits after the commercial real estate market regains its ground. This new strategy has the potential to yield higher ROI for UC Asset shareholders, based on the projection of its management.
The sale of these properties will put more cash back into UC Asset’s hands, empowering the company to implement the new investment strategy and expand its portfolio of commercial rental properties.
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.
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