UCASU Closed Historical Landmark Acquisition and Hailed by Atlanta Preservation Center

Rhea-AI Summary

UC Asset LP (OTCQX: UCASU) has successfully acquired the historic Rufus Rose House in downtown Atlanta as of July 7, 2021. This acquisition aims to restore and refurbish the property, enhancing its historical significance while contributing to the future of Atlanta. The project has received support from the Atlanta Preservation Center and is expected to attract millions of visitors annually. The Rufus Rose House, a designated landmark, offers potential investment returns and aligns with UCASU’s value-added real estate strategy.

Positive

• Successful acquisition of Rufus Rose House, a historic landmark.
• Plans for refurbishment may enhance property value and community engagement.
• Support from Atlanta Preservation Center suggests a collaborative approach to restoration.
• Potential to attract 50-60 million annual visitors to Atlanta, benefiting local economy.

Negative

• None.

ATLANTA, July 8, 2021 /PRNewswire/ -- UC Asset LP (OTCQX: UCASU) announces the company has closed the acquisition of Rufus Rose House, the oldest historical building and cherished landmark in downtown Atlanta, on July 07, 2021. UC Asset plans to fully refurbish and restore the house to preserve its historic legacy, and to work alongside city leaders and influencers to promote the diverse and socially inclusive future of Atlanta.

UC Asset's plans were sanctioned by Atlanta Preservation Center, a private non-profit preservation organization founded in 1979 to promote the preservation of Atlanta's architecturally, historically and culturally significant buildings, neighborhoods and landscapes. Atlanta Preservation Center, along with several other organizations concerned with the preservation of Atlanta history, discussed collaborating with UC Asset prior to the acquisition. On Wednesday, the day before closing of Rufus Rose House acquisition, UC Asset's management team and Atlanta Preservation Center met to further discuss the upcoming restoration plans.

"UCASU has committed to preserve this house, and this represents the continued renaissance of downtown Atlanta through visionary partnerships. The Atlanta Preservation Center is very excited to participate with UCASU in seeing this part of our city's story both return and welcome future generations to Atlanta," says David Yoakley Mitchell, the center's executive director. "Rufus Rose House was our headquarter for years. That adds yet another reason for my personal commitment to this project."

The Rufus Rose House is one of the oldest buildings in metropolitan Atlanta, and currently the only standing Victorian mansion in the central district. Known as the "Rose on Peachtree", the property is a late Victorian Queen Anne style home built in 1901 and nestled in the heart of the city. The stunning image of the late Victorian red-brick house stands out against a backdrop of modern steel-concrete skyscrapers on Atlanta's busiest and most famous street, Peachtree Street.  The refurbished Rose on Peachtree is posed to attract the attention of the 50-60 million visitors/tourists to Atlanta every year.

Rufus Rose house is listed on the National Register of Historic Places (since 1977) and is designated as a Landmark Building Exterior (since 1989) by the City of Atlanta.

"We are working very hard to put together a plan that will not only be loyal to history and beneficial to the current community, but will also provide good investment return to our shareholders." Vowed Larry Wu, founder of UC Asset.

About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with value-added strategies, concentrating in metropolitan areas of Atlanta, GA.  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 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
cjordan@ucasset.com | 678-499-0297

View original content:https://www.prnewswire.com/news-releases/ucasu-closed--historical-landmark-acquisition-and-hailed-by-atlanta-preservation-center-301328180.html

SOURCE UC Asset LP

FAQ

What did UCASU announce on July 8, 2021?

UCASU announced the acquisition of the historic Rufus Rose House in downtown Atlanta.

What are UCASU's plans for the Rufus Rose House?

UCASU plans to fully refurbish and restore the Rufus Rose House to preserve its historic legacy.

How will the acquisition of Rufus Rose House benefit UCASU shareholders?

The refurbishment is expected to provide a good investment return to shareholders by enhancing property value.

What support did UCASU receive for the Rufus Rose House project?

The project received support from the Atlanta Preservation Center and other historical organizations.

Why is the Rufus Rose House significant?

It is one of the oldest buildings in Atlanta and is listed on the National Register of Historic Places.