Alignvest Student Housing – Q4 2019 Management Report

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DECEMBER 31, 2019 – MANAGEMENT REPORT

 

Please see the attached for the December 31, 2019 Management Report of Alignvest Student Housing Real Estate Investment Trust (“ASH REIT”). As of December 31, 2019, we have acquired seven of Canada’s premier purpose-built student accommodation (“PBSA”) properties and have over 3,300 beds valued at ~$400 million in four university markets.

 

We are excited about the progress we have made over the past 18 months, raising substantial amounts of equity capital and investing it into attractive tier-1 PBSA assets, which has allowed us to become the largest owner/operator of student housing properties serving Canadian universities. Our focus on integrating the local properties into a single operating platform and driving operational performance has resulted in year-over-year same property NOI growth of ~12% and we are forecasting a further ~9% increase in 2020 relative to 2019.

 

We are now poised to return to market and acquire additional high-quality assets at attractive prices to further expand our portfolio.

Below is the link to our Management Report.

 

Report

 

Alignvest Student Housing – Investment Rationale

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Alignvest Management Corporation, a promoter of the REIT, is a leading international alternative investment management firm with over $1 billion of AUM that seeks to deliver exceptional risk adjusted returns for our clients by identifying and exploiting market discontinuities and attracting the very best talent to build industry leading platforms.

“ASH provides investors with access to Alignvest’s institutional investment platform and an experienced team focused exclusively on acquiring high-quality, purpose-built student accommodations across the country that provide our Unitholders an attractive quarterly distribution and long-term capital appreciation.”

 

View Report