BEVERLY HILLS, CA, March 11, 2019 (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, announces it has entered into an agreement to buy a Beverly Hills ral estate company, including its real property asset. The company, Kapok Investments, LLC, (“Kapok”) includes a student housing property located at 1981 Estrella Avenue, 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, only a short walk/bicycle ride to campus and 3 blocks from the Jefferson/USC Metro/subway station, situated directly in the path of growth between LA Live, Staples Center, LA Convention Center and USC Campus, which we believe increases future property appreciation and cash flow for HBUV. Hubilu announced earlier last 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/107214f1-a20f-4720-859f-d2c5828287bc
“We are starting off 2019 extremely focused as we continue to aggressively expand our portfolio with path of growth “value add” student housing, this property being walking distance to LA Live/Staples Center and USC Campus, and two LA Metro subway stations. Our investors should be pleased with the company’s steady growth and our strategic business strategy,” 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 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 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.
David Behrend, CEO
Hubilu Venture Corporation