Mahogany Car Wash Update

by on March 17, 2023 with No Comments

We are pleased to report to our Investors with this summary of our Great
White Car Wash Assets, including our existing facilities, the projects that
are currently under development, and those in the development pipeline.
As car wash developers/owners and operators, we continue to drive value for
our Investors through state-of-the-art facility development on ‘triple-A’ retail
locations. Our ‘Shark Club’ Membership model continues to grow a devoted
customer base, which provides inherent value in predictable and re-occurring
income. Operationally, superior chemical sourcing and modern titration technology
have allowed Great White to significantly lower our chemical costs while
improving our product offering, to a level we feel is ‘best in class’.

 

Please click below to read the full report:

Mahogany Car Wash – 2023 Q1 Report

Mahogany Self-Storage Update

by on March 17, 2023 with No Comments

We are pleased to report to our Investors with this summary of the Bluebird Storage
facilities that are currently in operation, as well as the two facilities that are
currently in the construction phase. The deal pipeline currently holds several more
facilities and development locations, including Class ‘A’ opportunities in the interior
of British Columbia, Saskatchewan, Manitoba and Ontario (Greater Toronto Area).

Please click the below link to read the full report:

Mahogany – 2023 Q1 Report

Wright-Parkway Self-Storage Update

by on March 17, 2023 with No Comments

We are pleased to report to our Investors with this summary of the Bluebird Storage
facilities that are currently in operation, as well as the two facilities that are
currently in the construction phase. The deal pipeline currently holds several more
facilities and development locations, including Class ‘A’ opportunities in the interior
of British Columbia, Saskatchewan, Manitoba and Ontario (Greater Toronto Area).

Please click the below link to read the full report:

Wright-Parkway – 2023 Q1 Report

Henri-Bourassa Self-Storage Update

by on March 17, 2023 with No Comments

We are pleased to report to our Investors with this summary of the Bluebird Storage
facilities that are currently in operation, as well as the two facilities that are
currently in the construction phase. The deal pipeline currently holds several more
facilities and development locations, including Class ‘A’ opportunities in the interior
of British Columbia, Saskatchewan, Manitoba and Ontario (Greater Toronto Area).

Please click on the below link for the full report:

Henri-Bourassa – 2023 Q1 Report

Dufferin Self-Storage Update

by on March 17, 2023 with No Comments

We are pleased to report to our Investors with this summary of the Bluebird Storage
facilities that are currently in operation, as well as the two facilities that are
currently in the construction phase. The deal pipeline currently holds several more
facilities and development locations, including Class ‘A’ opportunities in the interior
of British Columbia, Saskatchewan, Manitoba and Ontario (Greater Toronto Area).

Please click the below link for the full report:

Dufferin – 2023 Q1 Report

Chestermere Self-Storage Update

by on March 17, 2023 with No Comments

We are pleased to report to our Investors with this summary of the Bluebird Storage
facilities that are currently in operation, as well as the two facilities that are
currently in the construction phase. The deal pipeline currently holds several more
facilities and development locations, including Class ‘A’ opportunities in the interior
of British Columbia, Saskatchewan, Manitoba and Ontario (Greater Toronto Area).

 

Please click on the below link for the full report:

Chestermere – 2023 Q1 Report

Alignvest Student Housing Management Report

by on February 9, 2023 with No Comments

We are pleased to send you Alignvest Student Housing Real Estate Investment Trust’s Q4 2022 Management Report.

Our fair market value remains stable due to our strong operating performance and forecasted NOI growth in 2023. Demand for high-quality student housing continues to outpace supply, which has translated into upward pressure on rental rates and resulted in low vacancy rates (99.6% occupancy as at December 31, 2022). Our current pre-leasing velocity is providing confidence that the 2023/2024 academic year will follow similar trends; we are budgeting 2023 NOI at ~8% higher than 2022 on a same-property basis. We are pleased to report that we are already over 60% pre-leased at our privately-managed properties for September 2023 (over 20% ahead last year at the same time).

We are pleased to have delivered a 10.5% annualized net return since inception, with limited volatility. Our annualized distribution yield is 4.9% as at December 2022, equivalent to approximately a 10% pre-tax equivalent yield as it is delivered as a tax-efficient return of capital. We believe our REIT will continue to perform well in 2023 given our market leading position and our strong business fundamentals.

Below is the link to our Management Report. Please contact us if you have any questions or need additional information.

Management Report

 

SEE-MORE, HALIFAX

We acquired 1400 Seymour Street in Halifax, Nova Scotia in January 2023 for $90 million. See-More is a 6-storey, newly constructed (2022) student housing facility located steps away from Dalhousie University. See-More has 141 fully furnished units, including bachelors, 3-bedroom, 4-bedroom and 5-bedroom suites.  Additionally, See-More features several student-oriented amenities, including a yoga and wellness studio, games room, on-site laundry facilities, social rooms, common study areas and an underground parking garage.

Alignvest Student Housing – Management Report

by on November 10, 2022 with No Comments

We are pleased to send you Alignvest Student Housing Real Estate Investment Trust’s (“ASH REIT”) Q3 2022 Management Report.

We are excited to have completed our September 2022 leasing season with record high occupancy of 99.9% across our portfolio. As of today, we only have four vacant beds across our entire privately-managed portfolio. We are also very pleased to have achieved an average net effective rent increase of 13.2% compared to September 2021.

Student housing continues to provide strong protection against the high inflation that we have been experiencing for several months now. In 2022, we turned over of 55% of our beds, resulting in the opportunity to close the gap-to-market on rental rates on these beds. With the remaining beds expected to turn over next year, we still have substantial upside ahead of us. Student housing offers a significant advantage compared to multi-family and other real estate sectors, which traditionally experience much lower turnover, especially in inflationary periods.

Below is the link to our Management Report. Please contact us if you have any questions or need additional information.

Management Report

Wright-Parkway Winter/Spring LP Update

by on May 13, 2022 with No Comments

Operational Update

Occupancy remains strong in our two facilities in Nova Scotia. When you combine the two reports below, the percentage of units rented between the two facilities is 89.6%. If you look at the square footage, we are currently leasing out 94% of all space available. This is considered quite high for storage and Wright in particular is in need of more space with over 97% of available area currently rented!

 

 

Financial Update Q1 2022

2021 was a solid year for both facilities. Our revenue for the year was $1,631,116 over 10.5 months of operation with monthly revenues increasing 10-20% over the course of the year. The Q1 numbers, as noted below, show this growth trend continuing with $500,000 of revenue in the first quarter of 2022. This puts Wright-Parkway on track to surpass $2M in revenue for 2022.

 

 

  • The GP declared a second Distribution of $198,000 to LP unitholders in May, 2022
  • Combined distributions paid to investors since February 2021 totals $518,904 or almost 8% on equity in just over 1 year

Management is now looking at expansion options for the Wright facility. This expansion could add 4 to 6 stories and up to 60,000 Sq Ft of much needed space to this facility. Management believes the net gain in value for Wright from such an expansion could be significant

 

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