USHPA raises $150,000 more for the RRG with sale of headquarters

USHPA headquarters is under contract to sell in April 2016. Selling the building will free up much needed capital to strengthen the RRG. USHPA will continue to rent the space for the foreseeable future.

Selling the building was an obvious choice for USHPA, since it makes more sense to lease than to own a building for a number of reasons. With rent almost equaling upkeep, a strong need for increased funding to shore up the RRG, and remote work space being a financially beneficial option in the long run, it was decided that selling the building was our best option during this transition. Details of the sale are below.

  • The net sales price is $470,000. 
  • Closing is scheduled for 4/14.  
  • USHPA has agreed to lease back the space we currently utilize for 12 months at a monthly rental rate of $700/mo. 
  • Sale of the building (vs. Letter of Credit) gives USHPA an extra $150K in capital for the RRG.
Kitty Hawk Kites
Eagle Paragliding