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

 

 

 

Alignvest Student Housing – Q3 2019 Management Report

by on November 21, 2019 with No Comments

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

Alignvest Strategic Partners Fund Quarterly Update

by on September 10, 2019 with No Comments

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

by on August 20, 2019 with No Comments

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

by on May 21, 2019 with No Comments

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

 

 

Alignvest Student Housing 2018 – Management Reports

by on April 16, 2019 with No Comments

ASH unit holders,

Please see the attached Annual Report. We are very pleased to announce that we have removed conditions on our transformational acquisition and it is scheduled to close at the end of April. We are closing the current equity financing round on April 19, 2019.

Thanks for everyone’s support thus far. Many unit holders have made additional investments.

ASH – 2018 Annual Management Report

Read Report

Alignvest Student Housing – Investment Rationale

by on March 26, 2019 with No Comments

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

 

 

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