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FORT LAUDERDALE, Fla. /ScoopCloud/ -- Publicly-held JV Group, Inc. (OTC MARKETS: ASZP) announces the completion of a change in control effective November 23, 2021. Harthorne Capital, Inc has acquired voting control in a private securities purchase agreement for 98.2% of the issued and outstanding shares of the Company's common stock from Michael A Littman ATTY, Defined Benefit Plan, an affiliate of Michael A Littman, as trustee.

As a part of the transaction, Michael Singh was appointed as Chief Executive Officer, Dr. Andrew Trumbach as President and Chief Financial Officer and Lisa Marie Iannitelli as EVP, Investor relations. Michael A Littman and Calvin D Smiley Sr. have resigned from all officer, director, and employment positions with the Company.

Contemporaneously with the Change in Control, the size of the Board was increased from three to six directors. Michael Singh was appointed as Chairman of the Board. Dr. Andrew Trumbach, Lisa Marie Iannitelli, Dr. Claude Stuart, Esq., Dr Narendra Kini MD, and Tyler Trumbach Esq. were appointed as Directors.

"We are excited to move forward in the public markets," said CEO Michael Singh. "We intend to rebrand the company, while growing market capitalization through strategic asset acquisitions to be disclosed, thereby adding to shareholder value over the coming year."

"Awaysis is uniquely positioned to seamlessly connect desirable vacations, effortless ownership and solid investments in some of the world's most sought after locations," said Kofi Nartey, Director of Real Estate Development & Sales.

JV Group Inc has filed the necessary control information to the OTC Markets along with strategic business plans, which will reflect the changes and the new direction of the company. In connection with this, the company has also filed a name change and symbol change to AWAYSIS CAPITAL, INC. (OTCMARKETS: AWYS) by application to FINRA to better reflect the new business model and branding. These milestones are expected to be completed in the coming weeks.

About JV Group, Inc.

JV Group Inc. is a real estate investment and management company focused on acquisition, construction, selling and managing residential vacation home communities in desirable travel destinations. The Company creates value through targeting, acquisition, development, up-cycling, rebranding, and repositioning of currently undervalued operating and shovel ready residential/resort communities in global travel destinations. These assets are relaunched under the Company's unique Awaysis Brand to create a network of residential and resort enclave communities that will optimize both sales and rental revenues, providing attractive returns to owners and exceptional vacation experiences to travelers.

For more information, please visit our Website: https://awaysisgroup.com/

CONTACT:

JV Group, Inc.

Andrew Trumbach, Chief Financial Officer (855-795-3311)

info@awaysiscapital.com

Social media: @awaysis_group #awaysisgroup

DISCLAIMER:

Statements in this press release that are not historical fact may be deemed 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. Although JV Group, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, JV Group, Inc. is unable to give any assurance that its expectations will be attained. Factors or events that could cause our actual results to differ may emerge, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

OTC MARKETS: AWYS / OTC:AWYS

Publicly-held JV Group, Inc. (OTC MARKETS: ASZP) announces the completion of a change in control effective November 23, 2021. Harthorne Capital, Inc has acquired voting control in a private securities purchase agreement for 98.2% of the issued and outstanding shares of the Company's common stock from Michael A Littman ATTY, Defined Benefit Plan, an affiliate of Michael A Littman, as trustee.

Related link: https://awaysisgroup.com/

WEST PALM BEACH, Fla. /ScoopCloud/ -- SROA Capital, LLC ("SROA"), a West Palm Beach-based vertically-integrated real estate investment management firm with $1 billion of assets under management and owner/operator of Storage Rentals of America, announced today that it has paid its first quarter distribution of 1.85% or 7.4% annualized which represents the weighted average distribution yield across SROA's dedicated self-storage funds (*note 1).

SROA anticipates continuing to pay quarterly distributions uninterrupted, despite the current market environment. SROA recently launched Fund VIII and has started accepting investor commitments. It expects to begin investing the capital in late 2020 or early 2021 as opportunities arise as the pressure builds on sellers in a post COVID-19 world.

"We are pleased with the performance of our self-storage portfolio and remain focused on seeking to provide our investors with regular quarterly distributions and strong risk-adjusted returns," said Benjamin S. Macfarland III, Co-Founder and CEO.

"SROA is in a strong financial position thanks in large part to our hands-on management, conservative underwriting, modest portfolio leverage (approximately 50% LTV), and ample dry powder. We believe that we are uniquely positioned to weather this period of economic uncertainty and to capitalize on any dislocation that may arise in the self-storage market."

At a time when fixed income yields are at historic lows, investors have flocked to the private real estate equity and debt markets in search of yield. However, many real estate asset classes including retail, office, hospitality, and residential, have been adversely affected by the onset of COVID-19, causing managers to halt distributions. Macfarland believes that conservatively managed self-storage operators like SROA offer investors a safe alternative.

"Over the past two decades, self-storage has shown that it is not as sensitive to macroeconomic downturns as other real estate sectors," Macfarland added. "Over the past 5-, 10-, and 15-year periods, self-storage has outperformed all other real estate property types (*note 2) and self-storage REITs were the only REIT sector to post a positive total return in 2008 (*note 3)."

About SROA

In a recent article, SROA Capital acknowledged the impacts of COVID-19 on our communities and the private real estate market. SROA Capital, LLC is a vertically-integrated real estate investment and management company that specializes in non-traditional commercial real estate with an emphasis on self-storage. SROA owns and operates approximately 7 million rentable square feet under the brands Storage Rentals of America and Storage Zone.

For more information, please visit https://sroacapital.com/.

Notes:
(1) Distribution does not include Elite Store Fund V which is self-storage development vehicle or SROA Capital Fund VIII which was recently launched and has yet to call capital.
(2) Green Street Advisors, April 2019.
(3) Self Storage Almanac 2015.

Image Links For Media:
[1] https://www.Send2Press.com/300dpi/20-0520s2p-sroa-cap-return-300dpi.jpg
Caption: Figure 4: List of commercial property return indices and their performance over a 5-, 10-, and 15-year periods (2004-2019)* (*Green Street Advisors, April 2019).

[2] https://www.Send2Press.com/300dpi/20-0520s2p-sroa-macfarland-300dpi.jpg
Caption: Benjamin Macfarland, SROA Capital Co-Founder and CEO.

SROA Capital, LLC ("SROA"), a West Palm Beach-based vertically-integrated real estate investment management firm with $1 billion of assets under management and owner/operator of Storage Rentals of America, announced today that it has paid its first quarter distribution.

Related link: https://sroacapital.com/

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Tag Archives: real estate investment management

JV Group, Inc (OTC MARKETS:ASZP) announces Change of Control

SROA Capital Pays Quarterly Distributions – Sees Market Opportunity Ahead