BEVERLY HILLS, CA, June 25, 2021 (GLOBE NEWSWIRE) -- Hubilu Venture Corporation (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, has expanded their housing criteria to include properties desired by non-profits that provide transitional housing. These organizations are both privately and government funded and help address the effects of homelessness, poverty, mental and physical illness, abuse, and addiction, and provide assistance with a safe home and getting people back into the work force. Hubilu is currently working with award winning organizations including PATH (People Assisting The Homeless), Covenant House, Los Angeles LGBT Center, Sanctuary of Hope, People Concern, St Josephs. Hubilu announced today that it has acquired, through its wholly owned subsidiary Trilosa Investments, LLC, its sixteenth real property asset located at 3908 S. Denker Street, Los Angeles. This property fits perfectly into the Company’s target market, prime USC location for off campus students, located inside the USC 24 Hour Security Patrol Zone, 3 blocks from campus, and only a short walk from the Expo/Western Metro/subway station. The property is near LA Live, Staples Center and LA Convention Center and a short metro ride to DTLA, which is now USC student’s new hub for entertainment, night life and shopping. In addition, it’s a short walk to Exposition Park, home to the LA Memorial Coliseum and Banc of California Stadium, the Natural History Museum, California Science Center, and the new George Lucas Star Wars Museum.
“2020 and 2021 have been challenging years for many owners in the housing market. We saw the transitional housing market offer a stable income opportunity and allow us to assist in an area the community is desperate for help. While many owners are struggling with unpaid rents, we are at approximately 95% in rental collection due to our investments in transitional housing. Each tenant has a social worker which guides them to getting back on their feet. We are continuing to buy in the USC area and have seen a dramatic increase in requests for housing from both students and transitional housing alike, effectively competing for similar product in safe areas close to USC and Metro Stations.” 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, which 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.
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 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 satisfaction of audited results. 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.
Tracy Black, VP – Investor Relations
310.420.9599
Attachment