Holiday Island Holdings, Inc. Announces Agreement to Acquire Self-Storage Property and Brand for $1,185,000
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Holiday Island, Arkansas--(Newsfile Corp. - April 12, 2021) - Holiday Island Holdings, Inc. (OTC Pink: HIHI) operating in the recreational and remote living real estate market in the geographic markets of Texas, Arkansas, Oklahoma, Missouri, and Louisiana, released news today that it is negotiating to acquire an 80% ownership in a locally branded self-storage property in north Houston, and the brand itself .which has been formulated but not widely marketed, by the owner/developer.
CEO, S. Gene Thompson said: "We have a particular interest in self-storage properties based on numerous favorable factors. First, while we are seeking out and are in preliminary analysis of various remote living and recreational projects and prospects, we are simultaneously finding a significant number of nearby, independently owned and non-branded self-storage properties."
"These storage properties typify the positive metrics of that industry segment, such as being relatively low failure risk; having a exceptionally low operating cost per square foot; seeing a high demand stemming from the temporary and permanent household movements; being positively impacted by a major increase in home officing; and seeing increasing ownership of "toys" such as ATV's and other recreational equipment. Likewise, the national substantial increase in RV ownership is requiring substantial physical storage space when those units are not in use."
"We are also finding that a vast majority of self-storage facilities are independently developed and owned, and as part of our work with the Houston owner/developer, we will be acquiring a self-owned "brand" (U Storage USA), which we intend to enhance and use for our future acquisitions and affiliations.
"While we ramp up our acquisition search for more self-storage properties, we think it prudent to have the Houston owner/developer remain in a partial ownership position on transactions they generate, and on rolling out our newly acquired U Storage USA brand."
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80109
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