UCASU acquires Historical Landmark Property Rufus Rose House in Downtown Atlanta
June 30 2021 - 9:27AM
InvestorsHub NewsWire
UCASU acquires Historical Landmark Property Rufus
Rose House in Downtown Atlanta
Atlanta,
GA -- June 30, 2021 -- InvestorsHub NewsWire
-- UC
Asset LP (OTCQX:
UCASU) announces
the
company went
under
contract on the Rufus Rose House, the oldest historical building
and cherished landmark in downtown
Atlanta, for a consideration of $1.65 million. The acquisition
was performed
through
UCASU's wholly-owned
subsidiary,
Atlanta Landsight LLC.
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 Rd. The
refurbished
Rose
on Peachtree is
posed to attract
the attention of the 50-60 million
visitors/tourists
to
Atlanta every year.
Named
after
its builder, Dr. Rufus Mathewson Rose (1836-1910), who some people
believe is the true founder of famous whiskey brand
Four
Roses, the house boasts the original architecture by Emil
Charles Seiz.
The
5200 square foot Rose house has five bedrooms, three baths and 7-9
fireplaces. It was commissioned as a museum by the Atlanta History
Center up
until 1998,
containing
furniture
belonging to Margaret
Mitchell(the
renowned
author of
"Gone with Wind"),
and
the throne of Ethiopian
Emperor Haile Selassie among
other historical pieces.
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.
UCASU
plans to fully refurbish
and
restore the
Rose on Peachtree to
preserve its historic
legacy,
and to work alongside
city leaders and influencers to promote the diverse and socially
inclusive future of
Atlanta.
Atlanta claims the 10th largest economy in the
country;
18th
in the world with an estimated gross domestic product of over $324
billion dollars. The airport of Atlanta is the busiest airport in
the world, hosting over 110.5 million travelers per year,
with
50-60 million identified as visitors to the city.
"We
have been engaging the previous owner for months and are very happy
we finally reached a price acceptable to both parties." Says Greg
Bankston, managing partner of UCASU. The building was last
sold at
$1 million in 2019,
and
was
asked for $2.5 million in early 2020.
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
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
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