Alignvest Student Housing – Q3 2020 Management Report

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SEPTEMBER 30, 2020 – MANAGEMENT REPORT

We are pleased to send you the September 30, 2020 Management Report of Alignvest Student Housing Real Estate Investment Trust (“ASH REIT”).

September is the most important month for our REIT as it is the start of the school year. This year, in particular, with the onset of the “second wave” of the COVID-19 pandemic and uncertainty around university operations, we have been hyper-focused on occupancy and managing the health and safety of our tenants and employees. We are pleased that the majority of students showed up, are occupying their units, are excited to partake in the university experience, and are paying rent on time.

We are cautiously optimistic that our occupancy figures will continue to improve in the coming quarters with the recent announcement by the government to allow international students to enter Canada as of October 20, 2020.

Please let us know if you have any questions.

Click the link below for the September 2020 update.

Management Report

Alignvest Student Housing – Press Release

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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 Release

Adventus Realty Trust – Q1 2020 Financial Statements and Report to Unitholders

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Dear Adventus Investors,

Please see the Report to Unitholders and the Q1 2020 update from Adventus’ management team.

 

Report to Unitholders

Financial Statements – Q1 2020

Passive Income Rules

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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:

 

passive income rules

Adventus Realty Trust: Covid-19 Update

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Dear Adventus Investors,

Please see the below update from Adventus’ management team. As you will see, they are taking a prudent and conservative approach throughout these unprecedented times and we commend them for doing so. We will continue to engage with management to better understand the challenges they are facing as the COVID-19 situation continues to unfold. We will keep you informed as additional information is provided.

 

Please see below:

2020.04.09 – Adventus Realty Trust Provides COVID-19 Update, Temporary Suspension of Distributions and Termination of New Dallas Property Acquisition

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

 

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