Vaycaychella Inc. announced that it has renewed the joint-venture agreement to renovate and operate Rufus Rose House, the only standing Victorian expansion in downtown Atlanta, which has 123 years of history and is a National Register of Historic Place. The property currently has a cost value of $2.1 million, and is anticipated to reach a market value of $5 - 8 million upon completion of renovation. Under the renewed JV agreement, Vaycaychella will continue to manage the renovation of this into a boutique, multi-unit short-term rental (Air Airbnb etc.) property.
VAYK is entitled to a 20% "sweet equity" of the JV, and will receive more equity proportionally when it raises capital for the JV.