LOS ANGELES, CA, January 9, 2017 – ASAP International Holdings (“ASAP”) (OTCQB: ASAE) announced today that it has successfully acquired The Renaissance Woodbridge Hotel located in 515 US-1, Iselin, NJ 08830 which closed on November 15, 2016.
Situated between Edison and Woodbridge Township, the Iselin, New Jersey hotel is surrounded by popular attractions including Menlo Park Museum, Rutgers University and Newark International Airport only 15 minutes away. The dynamic sights and sounds of New York City are just a short train ride away.
“We are excited to transform the hotel into a world-class destination. The Renaissance Woodbridge Hotel is strategically located for convenience to both leisure and corporate guests,” said Frank Yuan, CEO of ASAP. “We believe spending some money for a renovation will truly benefit the asset and surrounding businesses.” Added by Yuan “ASAP was excited to work with the team at RealCrowd to bring efficiency to our capital raising process. In addition to raising capital from our existing stable of investors, we were able to raise additional equity from new investors through RealCrowd.”
“It was a pleasure to work with Frank, Jerome and their staff at ASAP on the Renaissance Woodbridge opportunity, and our investor base proved to agree. ASAP was able to raise a substantial amount of equity utilizing our technology, one of the largest raises ever for a hospitality project in the US through an online platform. We look forward to working with them on many more deals in the future.
CEO Frank Yuan and CIO Jerome Yuan led the ASAP team on transactions. ASAP is one of the most active hotel buyers in the U.S. For the past five years, the company has constantly identified hotels and will remain active on the hospitality buy side for the foreseeable future.
Built by real estate experts in combination with the best talent found only in Silicon Valley, RealCrowd is the most efficient way to invest in professionally managed commercial real estate. Our real estate team has over $7 billion of real estate transaction experience ranging across all property types. More information at https://www.realcrowd.com/
ASAP is a holding company that operates real estate, investment banking and consulting for Chinese companies. Our mission is to be the bridge between China and the Western world. Our Real Estate division assists with institutional and high net worth individuals with acquisition advisory and asset management. Corporate website www.asapholdings.com
Ana Gandara Morales
(213) 625 1200
With the exception of historical information, the matters discussed in this news release include “forward-looking statements” within the meaning of the federal securities laws that are qualified by cautionary statements herein and in all company’s filings with the Securities and Exchange Commission. We undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in our expectations.