Alignvest Student Housing – June 30, 2020 – Management Report

by on August 18, 2020 with No Comments

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

 

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

by 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.

 

Report to Unitholders

Financial Statements – Q1 2020

Passive Income Rules

by 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:

 

passive income rules

Alignvest Student Housing – Announcement and Update

by on May 11, 2020 with No Comments
Please see the latest addition to the Alignvest Student Housing team. We are very happy to have Nancy Lockhart join the board.
Management has also provided some very relevant information on the performance of the REIT in two additional Flash Reports. Please see below.

We are pleased to announce that Nancy Lockhart has been appointed as a Trustee of Alignvest Student Housing REIT, effective immediately.

Ms. Lockhart is a director of George Weston Limited, Choice Properties REIT and Atrium Mortgage Investment Corporation. Previously, Ms. Lockhart was the Chair of Gluskin Sheff + Associates, Inc., and a director of Loblaw Companies Limited, Canada Deposit Insurance Corporation, Retirement Residence REIT and Barrick Gold Corporation. Additionally, Ms. Lockhart was formerly the Chief Administrative Officer of Frum Development Group and a Vice President of Shoppers Drug Mart Corporation. Currently, she is the Chair Emeritus of Crow’s Theatre Company and Director of The Royal Conservatory of Music, and was previously Chair of the Ontario Science Centre, President of the Canadian Club of Toronto, Chair of the Canadian Film Centre, Director of the Centre for Addiction and Mental Health Foundation and Director of The Canada Merit Scholarship Foundation. Ms. Lockhart was awarded the Order of Ontario in 2006.

 

 

Below is a link to the press release
Press Release

 

In addition to the exciting announcement regarding Ms. Lockhart’s appointment, Alignvest Student Housing remains committed to being transparent during these uncertain times. We have been, and will continue to, release periodic “Flash Reports” on our website for the duration of the COVID-19 pandemic. Please let us know if you have any questions or would like to address specific issues in our upcoming reports.
Flash Report #2

 

Flash Report #3

Alignvest Strategic Partners Fund Quarterly Report

by on March 27, 2020 with No Comments

 

Please see the attached for our fourth quarter 2019 report for Alignvest Strategic Partners Fund. The Q4 update discusses performance over the past quarter and our thoughts going forward.

Q4 2019 Performance

• Alignvest Strategic Partners Fund was up 2.7% (Class F, net of fees) during Q4 2019. The Fund delivered a 2019 calendar year net return of 10.2% while maintaining the same ~4.5% annualized volatility as we have since inception.

 

 

Q4 2019 ASPF Report

Adventus Update

by on February 24, 2020 with No Comments

Please see the below update from Adventus’ Management Team. Some key highlights of the report are:

  1. 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.
  2. 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.

 

2020.02.05 – Adventus Realty Trust Business Updates

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