BEVERLY HILLS, CA, Oct. 30, 2018 (GLOBE NEWSWIRE) -- Hubilu Venture Corporation (“Hubilu” or the "Company") (OTC PINK: HBUV), a publicly traded real estate consulting, asset management and business acquisition company, which specializes in acquiring student housing income properties and development/business opportunities located near USC and Metro stations within the Los Angeles area, announces that it entered into an agreement to buy a Beverly Hills real estate company, Lantana Investments, LLC, ("Lantana") including its student housing asset located at 1557 West 29th Street, Los Angeles. The acquisition of Lantana, which is majority owned by related parties, was made “subject to” two loans secured by the property. This property fits perfectly into the Company's target market, just 3 blocks from the USC campus and USC Village and a short distance to LA Metro/subway transportation system. The Company announced earlier this year that it is now accepting rent payment using cryptocurrency. Cryptocurrencies being accepted are Bitcoin, Ethereum, Bitcoin Cash and Litecoin, and are processed on the Coinbase Blockchain.
A photo accompanying this announcement is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/117b256a-25b3-4b7d-81c3-fcda6d077b4a
"HBUV is steadily seeking opportunities to expand our student housing portfolio and we continue to execute on our long term business plan by potentially adding another "turn key" student housing property which will increase our asset portfolio and drive positive cash flow,” commented David Behrend, Hubilu CEO.
About Hubilu Venture Corporation:
Based in Beverly Hills, California, Hubilu Venture Corporation, a real estate consulting, asset management and acquisition corporation, is executing on its business plan, which besides consulting to real estate companies, is seeking to acquire student housing real estate and business opportunities in the niche markets of the USC campus area and the expanding urban transportation Metro stations facilitated by the development of the Los Angeles Metro/subway system. Hubilu, inspired by Strategic Growth Through Smart Ventures, focuses on acquiring high path of growth real estate and business opportunities that it believes are recession proof and have limited downside risk, while offering upside potential in equity appreciation and cash flow.
About Lantana Investments, LLC:
Lantana Investments, LLC, a single purpose entity, which is majority owned by related parties, is the sole owner of 1557 W. 29th Street, Los Angeles, CA 90007. Set within walking distance of USC campus, the property is a 7 student occupancy house with excellent rental income and equity upside potential. The house is in turnkey condition with hardwood floors, has multi-directional sunlight and cute charm, creating a warm and homey living environment which students love. All just minutes from USC Village, Staples Center and LA Live.
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of Federal securities laws, concerning the future performance of our business, its operations and its financial performance and condition and potential selected offerings presented without the context of accompanying financial results. The comments of Mr. Behrend, statements regarding the potential acquisition of property and the characteristics of its wholly owned property are examples of forward-looking statements. A number of factors could cause Hubilu Venture Corporation's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for real properties; interest rate levels, the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or the costs may be greater than anticipated. This executed purchase contract is subject to various closing conditions, including but not limited to due diligence and property inspections. These forward-looking statements include, among others, statements with respect to objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise. For further information on factors that could impact Hubilu Venture Corporation, reference is made to filings with the Securities and Exchange Commission.