Adventus Update

by on February 24, 2020 with No Comments

Please see the below update from Adventus’ Management Team. Some key highlights of the report are:

  1. A new acquisition has been announced in Dallas, Texas. This is important as it brings a third major market into the portfolio and would also have the REIT achieve an asset value of over US$1 billion. Over the last couple of years, Management has indicated that the US$1 billion mark would be important for a solid exit.
  2. Adventus also announced a major lease renewal signed with one of the REIT’s largest tenants, US Foods. They highlight that this renewal will be very positive for the value of Adventus units over the coming 12 months.

 

In summary, this is welcome news as these are two very positive step for Adventus and the unitholders.

 

2020.02.05 – Adventus Realty Trust Business Updates

StoreWest Chestermere Self-Storage LP

by on February 10, 2020 with No Comments

2019 Winter Update

 

We’re pleased to report that this project has been going very well. The RV and boat storage portion of the business is now at 80% occupancy and the existing storage facility is at 40% occupancy and strongly trending in the right direction. Management went through a process this summer to better understand if expanding the storage facility would add value to the project. As a result of their findings, the decision has been made to significantly expand the facility in 2020. At current levels, the facility is profitable and the future looks exciting. Management has been approached by several groups interested in purchasing the property. The interest has been significant enough that they are planning to officially market the property in Q1 2020 and solicit offers.
We currently have the investment on your accounts valued at book value. It is safe to say that this understates the value of your investment.

Additional details are included in the below update from Management.

Chestermere 2019 H2 Update

StoreWest Dufferin LP Update

by on February 4, 2020 with No Comments

We have been very encouraged by the operating results from the newly opened car/truck wash. The business model is very stable with the majority of revenue coming from car wash monthly memberships (currently over 500 with a goal to get to 1,500-2,000); and fleet contracts for trucks (currently 40 fleet contracts and the demand has been so high that they have to be very selective not to overload the system). The car and truck wash is looking like it is going to be very successful. On this site, we also have a self-storage facility that is under construction. They plan to be open for business in 2020. This site is going to be marketed, along with their Chestermere project, as there has been strong interest in purchasing the property even prior to construction being completed. There is currently a lot of money in Canada being invested in self storage, therefore we could end up selling the storage business in 2020. This would result in large distributions to unitholders while still having a profitable car/truck wash paying healthy dividends to shareholders.

Please click below to view Management’s Report
Dufferin 2019 H2 Update