Alignvest Student Housing – Q3 2019 Management Report

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ALIGNVEST STUDENT HOUSING

Please see the attached Q3 management report for Alignvest Student Housing. September is management’s most important month of the year as students are back and classes are starting. We feel management has done a good job over the quarter leasing up the building and achieving better than forecasted operating results. This was primarily reflected in the 10% increase in the Net Operating Income being generated by the properties. In addition, occupancy continues to be very strong with 6 of the 7 buildings achieving a 100% occupancy. Other highlights from the year/quarter include the finalization of a CMHC financing on our Annex property in Ottawa. The terms of the mortgage on the property include a 2.62% interest that is fixed for 10 years. This is very encouraging because in our initial due diligence we were anticipating a 4% cost of debt to achieve our return objectives of 15%+ IRR. Additionally, management continues to be disciplined in their acquisition strategy and we feel that there will be a number of high quality acquisitions done in Q4 2019 and Q1 2020.

The board has approved the issuance of additional equity in order to fund the potential acquisitions. We will be doing an equity closing on December 31, 2019 which will be available to all current unitholders. We hope you feel as excited about the opportunity as we do. Please contact your advisor to discuss in more detail.

 

Q3 Management Report

Evolution of Dental Medicine Summit hosted by The Aurum Group

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MFG is headed to Whistler!

We’re excited to be a sponsor of the 2019 Evolution of Dental Medicine Summit hosted by The Aurum Group.
This event, which runs from November 7-9, is a chance for those in the dental and medical professions to enhance both their personal and professional lives by gaining access to world leaders in medicine, technology and business.

 

 

This is Aurum’s third Summit (2015/2017/2019) and we’re proud to have been a part of each one! To learn more, please click on the below link:

Link

Alignvest Strategic Partners Fund Quarterly Update

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Q2 2019 Performance

 

  • Alignvest Strategic Partners Fund was up 0.2% (Class F, net of fees) during Q2 2019.  The fund experienced a modest gain during a quarter that proved volatile in terms of swings.  We are generally pleased with the first half of the year, having delivered a return of 6.1% with moderate volatility.

 

Please click below to view our Q2 2019 performance report.

Q2 2019 ASPF Report

 

 

Alignvest Student Housing – Q2 2019 Management Report

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ALIGNVEST STUDENT HOUSING

 

JUNE 30, 2019 – MANAGEMENT REPORT

We are pleased to send you the June 30, 2019 Management Report of Alignvest Student Housing Real Estate Investment Trust (“ASH REIT”). As of June 30, 2019, we have acquired seven of Canada’s premier purpose-built student accommodation properties and have over 3,300 beds worth over $384 million in four markets.

We are focused on the roll-out of best practices across our entire portfolio and we have commenced the integration of our new properties into our operating company. In addition, we are focused on maximizing occupancy at all properties in advance of the upcoming school year and we have spent considerable effort to improve the quality of commercial tenants across our portfolio.

Below is the link to our Management Report. Please let us know if you have any questions.

 

Investment Rationale Management Report

 

 

Alignvest Student Housing – Q1 Management Report

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MARCH 31, 2019 – MANAGEMENT REPORT

We are pleased to present to you the March 31, 2019 Management Report of Alignvest Student Housing Real Estate Investment Trust (“ASH REIT”). As of March 31, 2019, we have acquired three of Canada’s premier purpose-built student accommodation properties and we recently closed the acquisition of four additional high-quality properties, increasing our bed count to over 3,300 and our asset value to ~$400 million.

We are focused on the roll-out of best practices across our entire portfolio and we have commenced the integration of our new properties into our operating company. In this quarterly report, we highlight our recent operational advancements and accomplishments, as the early results are encouraging and yielding immediate results.

Below is the link to our Management Report.

 

 

333 King Street North, Waterloo, Ontario (“King I”)

King I is located in Waterloo, Ontario. The 536-bed property is 400 meters from Wilfrid Laurier University and 800 meters from the University of Waterloo. King I is 100% occupied.

 

 

 

339 King Street North, Waterloo, Ontario (“King II”)

King II is located in Waterloo, Ontario. The 419-bed property is adjacent to King I and is 100% occupied. We have integrated the operations of King I and King II with our other property in Waterloo at 181 Lester Street.

 

 

 

 

 

 

1686 Main Street West, Hamilton, Ontario (“Main”)

Main is located in Hamilton, Ontario. The 449-bed property is less than 1 km from McMaster University, home to almost 30,000 students. Main is 100% occupied.

 

 

 

 

 

 

1700 Simcoe Street North, Oshawa, Ontario (“Simcoe”)


Simcoe is located in Oshawa, Ontario. The 588-bed property is currently at 95% occupancy. Simcoe is 600 meters from the University of Ontario Institute of Technology.

 

 

 

 

 

 

 

 

 

 

March 31, 2019 - Management Report

 

 

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