Please click on the below link to view the June 2020 Update:
Pacific Calgary Opportunity Trust II – June 2020 Update
on July 20, 2020
with No Comments
Alignvest Student Housing – Press Release
on July 20, 2020
with No Comments
We’re very pleased that the REIT is completing its first acquisition in Western Canada. The University of Alberta is a Top 5 Canadian University and rated amongst the top 100 universities in the world. Should you have any questions or are interested in learning more, please do not hesitate to contact your MFG Portfolio Manager.
Please see the below press release regarding Alignvest Student Housing.
Press ReleaseAdventus Realty Trust – Q1 2020 Financial Statements and Report to Unitholders
on June 12, 2020
with No Comments
Dear Adventus Investors,
Please see the Report to Unitholders and the Q1 2020 update from Adventus’ management team.
Passive Income Rules
on June 10, 2020
with No Comments
Introduction
In July 2017, Finance Minister Bill Morneau announced potential options for changing the taxation of investment income earned by private corporations. The proposed changes were strongly opposed by many stakeholders and, in October 2017, Minister Morneau announced that changes would be made to the proposed new rules and that draft legislation would be released as part of Budget 2018. The resulting highly anticipated Budget was tabled by Minister Morneau on February 27, 2018. While Budget 2018 has scaled back many of the proposed measures from the July 2017 Consultation Paper, it has moved forward with various amendments to the Income Tax Act1 that will affect small business corporations in Canada. The amendments with respect to passive income earned by a private corporation will still have an adverse effect on small business owners and may affect the way small business owners choose to invest their retained earnings. In particular, the effect of the changes on the small business deduction (“SBD”) will likely leave small business owners seeking tax-efficient options for the investment of corporate retained earnings that will reduce the impact of these changes.
Bill C-74, which contains the legislative provisions to implement the new passive income rules, received Royal Assent
on June 21, 2018
See below for full article:
Alignvest Student Housing – Flash Report #4
on May 28, 2020
with No Comments
Please see the below Flash Report #4 as provided by the Management team for Alignvest Student Housing.
Alignvest Student Housing – Q1 2020 Management Report
on May 20, 2020
with No Comments
We are pleased to highlight the March 31, 2020 Management Report from Alignvest Student Housing Real Estate Investment Trust (“ASH REIT”).
On March 11, 2020, the World Health Organization declared COVID-19 a pandemic. In response, we immediately paused on the multiple acquisitions we were working on and shifted our focus to mitigate the impact of the pandemic to our employees and tenants, and to ASH REIT’s broader business. We are pleased to report that we are on track to collect approximately 95% of April rents, and expect similar outcomes over the summer months.
Recently, the Canadian universities began announcing their plans for September 2020; we have provided an update on what we know and are shifting our operating focus to respond to an expected primarily online environment for the Fall term.
Amidst this uncertainty, we are starting to see some attractive opportunities emerge. With operations largely stabilized, we expect to resume our focus on completing accretive transactions over the coming months and we believe that there will be an opportunity to transact at attractive valuations.
Below is the link to our Management Report. In addition, we will be hosting a conference call to discuss our performance and outlook on Thursday, May 28, 2020 at 2:00 PM EDT – please register for the call using the link below.
Please let us know if you have any questions. Stay safe and take care
Management Report
We recently completed renovations and relaunched our property in Oshawa as “17Hundred”. We have updated the lobby area (pictured) and all common areas to match modern design trends and better compete with other student housing properties in the market.
Alignvest Strategic Partners Fund Quarterly Report
on May 20, 2020
with No Comments
We are pleased to highlight the first quarter 2020 report for Alignvest Strategic Partners Fund. The Q1 update discusses performance over the past quarter and their thoughts going forward. As referenced, the estimate for April 2020 performance is 5.3% bringing the year-to-date performance of the Fund to -8.6%.
Additional information on the Alignvest Strategic Partners Fund can also be found on their website.
Q1 2020 ASPF Report
Alignvest Student Housing – Flash Report
on April 21, 2020
with No Comments
Please find below the most recent update on Alignvest Student Housing. Management wanted to share the latest numbers regarding the lease up for the 2020/2021 school year and the collection of April rents. In summary, we are ahead of where we were last year with respect to leasing for the upcoming school year. Our properties are proving to be highly desirable and some of the feedback received has been that higher quality properties are even more in favour during these times of uncertainty. With respect to April rents, we are tracking to get over 97% of rent cheques. Although lower than usual, it is still far above any amount that would have management concerned about cash flow.
COVID-19 Update and 2019 Annual Management Report
on April 1, 2020
with No Comments
Please see the annual report from Management that includes audited 2019 financial statements. The section in the report entitled “2019 Year In Review” does a good job highlighting the success we have had during the year.
COVID-19 is obviously top of mind for everyone these days including students, universities and property owners. Management has done a good job highlighting our efforts thus far in planning for COVID-19. Our staff and students are our number one priority. This is outlined in the two sections, “Our Response to COVID-19” and “FAQ on COVID-19”. We want to ensure investors that the REIT is well positioned to withstand a prolonged disruption if necessary. We currently have 4 years of expenses in cash on our balance sheet. This $50+ million of cash provides us tremendous stability and we are taking measures to tighten up our operations to ensure we continue to be financially prudent. We are working closely with the universities to better understand their perspectives and strategies for the 2020/2021 school year.
We are the largest player in the Canadian student housing space and our balance sheet will ensure we exit the COVID-19 pandemic in a favourable position.
Below are links to our 2019 Annual Management Report and Financial Statements.
2019 Annual Management Report
Our Response to COVID-19
FAQ on COVID19
Adventus Update
on February 24, 2020
with No Comments
Please see the below update from Adventus’ Management Team. Some key highlights of the report are:
- 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.
- 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.