BEVERLY HILLS, CA--(Marketwired - Sep 27, 2016) - Hubilu Venture Corporation (OTC PINK: HBUV), a publicly traded real estate consulting and acquisitions company, which specializes in student housing income properties and development opportunities located near Metro stations within the Los Angeles Metro/subway system, announces it has executed a purchase contract to acquire Akebia Investments, LLC, owner of the property at 3711 S. Western Avenue in Los Angeles. The property satisfies both of HBUV's target markets, being within walking distance of the Los Angeles Metro system and biking distance to USC campus. Hubilu has also appointed four new officers to the company:
- Eric Klein, VP, Operations & Business Development, 20 years experience
- Tracy Black-Van Wier, VP, Investor Relations, 20 years experience
- Stefano Coaloa, VP, Real Estate Development, 35 years experience
- Chille DeCastro, VP, Marketing, 20 years experience
"As we continue to aggressively execute on our plan to acquire student housing and development 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, we have expanded our management team with highly experienced officers to facilitate our growth," said David Behrend, Chief Executive Officer. "Hubilu's management team now has over 125 years combined experience in student housing, real estate development, property management, investment banking and organic marketing."
About Hubilu Venture Corporation:
Based in Beverly Hills, California, Hubilu Venture Corporation, a real estate consulting and acquisitions corporation is executing on its new business plan, which besides consulting to real estate companies, is seeking to acquire student housing and development 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 its mission statement, Strategic Growth through Smart Ventures, is now focusing on acquiring high path of growth real estate opportunities that it believes are recession proof and have limited downside risk, while offering upside potential in equity appreciation and cash flow.
About Akebia Investments, LLC:
Akebia Investments, LLC, a single purpose entity, which is majority owned by related parties, is the sole owner of 3711 S. Western Ave, Los Angeles, CA. Set just 275 yards from Expo/ Western Metro/subway station and biking distance to USC campus, the property is a 9 unit apartment building which management believes will provide excellent rental income and equity appreciation. The property is cash flow positive and in excellent, turnkey condition with ample parking.
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 Akebia Investments, LLC, 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 that 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 our 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. For further information on factors that could impact Hubilu Venture Corporation, reference is made to its filings with the Securities and Exchange Commission.