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 – Update

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ASH Unitholders,

September 1st is a very important date for our student housing assets. Most of our leases run on a September – September term. We wanted to provide some real time information as to how September appears to be going. The following attachment gives some raw numbers of our current portfolio. We wanted to provide some additional information in order to help best understand theses numbers and what they mean:

 

  • Our overall portfolio is 85%+ leased for the year. This is well above our estimated breakeven occupancy of 65%.
  • There is ONE building in our portfolio that is managed by a University. This is the annex building in Ottawa. The Annex has been recognized as the best building in the Universities portfolio and is the most occupied building. Its current occupancy is 57%. This is expected to be the case for at least the first term. Generally this building is fully occupied with a long waiting list.
  • We continue to be operating in a positive cash flow environment and we have plenty of cash on our balance sheet to weather any storm or take advantage of an opportunity to acquire quality assets.
  • At this point in time, management sees no reason to cut the distributions to unitholders and therefor distributions will continue.

 

See the below update:

 

Flash Report

Alignvest Student Housing – June 30, 2020 – Management Report

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

Throughout Q2 2020, the uncertainty with respect to COVID-19 has subsided with universities announcing their plans for the Fall 2020 term and our properties continuing to perform strongly. Our revenue collection stands at approximately 95% and our pre-leasing is approaching 90%. With this stability in place, we have shifted our focus on acquisition opportunities.

We recently announced the acquisition of our first property in Western Canada, 1Ten on Whyte in Edmonton, which transforms us into a truly national player in the institutional-grade, purpose-built student accommodation space. We have also re-engaged on several additional attractive acquisition opportunities worth upwards of $500 million.

 

Below is the link to our Management Report.

 

June 30, 2020 - 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

Alignvest Student Housing – Flash Report

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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 Flash Report

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

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