Hubilu Venture Corp. (OTCPK:HBUV) was on the move higher today as the publicly traded real estate consulting, asset management and business acquisition company announced that it has acquired Sunza Investments, LLC, a Beverly Hills real estate company including its real property assets.
Sunza, which was owned by a related party, owns a student housing property at 3910 Walton Street, Los Angeles, which is two blocks from the campus of the University of Southern California and the Vermont/Exposition Metro Station.
The property fits into the company’s target market, being both in walking distance to the USC campus and two blocks from the Metro/subway transportation system.
David Behrend, Chief Executive Officer, commenting on the newest acquisition, "The Company continues to see steady growth in 2018, adding to our student housing portfolio by acquiring another 'value add' housing property. We feel confident that our investors will be pleased with our expansion efforts, as we continue to aggressively execute on our business plan to add assets and cash flow.”
As mentioned off the top, shares of HBUV are on the move higher today to the tune of 45%, currently trading at $1.45, albeit on low trading volume as the stock is generally thinly-traded.
