Holiday Island Holdings, Inc. Announces Agreement to Acquire Self-Storage Property and Brand for $1,185,000
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."
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