Please see the link below to view the update from Adventus.
Please see the link below to view the update from Adventus.
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.
Despite our next scheduled update not being until July, the General Partners (GP) of StoreWest Dufferin LP felt it was important to communicate with everyone considering the current uncertainty surrounding COVID-19. We will cover off both segments of the business in order.
This business is currently open and operational. However, in the wake of the COVID-19 Pandemic, we have made adjustments on an operational basis to ensure we are adhering to current and evolving provincial guidelines. First, effective March 30, we have adjusted our hours of business to 8AM to 8PM in order to provide more flexibility for our employees in these extraordinary times. The safety of our employees and customers is the top priority. This adjusment has allowed employees to more easily arrange transportation and childcare for their families, while allowing us to stay open and maintain a properly staffed work environment. This change was implemented only after considerable review of operational data and analysis of the highest income-generating hours.
At Great White Car and Truck Wash, we have been blessed with a very dedicated staff, many of whom have been with us since we opened. While the car wash is considered a low risk environment with respect to the virus, their loyalty and reliability has been exceptional. To offset the overall reduction of working hours available to our employees, we have implemented a temporary $2.00/hour raise. We want to ensure that the efforts of our staff during this difficult time are being recognized and appreciated, and we anticipate that these changes will help them weather the challenges of the situation.
As we analyze government protocols and newly implemented rules, our partners have taken the firm stance that we are presently classified as an essential service. Car washes have generally fallen into this classification and our truck wash with 90+ fleets under contract only strengthens this point. Great White is currently providing needed cleaning and washing services to a wide variety of essential companies including food transportation companies, towing companies, utility companies and Alberta Health Services. We will continue to monitor the situation, and, should this categorization change, we will inform all stakeholders of the same. Otherwise we will continue to operate the wash and keep our staff employed.
March 17, 2020
We are carefully monitoring the current novel coronavirus (COVID-19) outbreak. We must take appropriate actions to limit the impact of the virus on our community, particularly by focusing on the safety of our clients, employees and their families.
We have instituted our business continuity plan with a view to proactively anticipate and respond to any potential for business interruption, including restricted business travel, work from home protocols where appropriate, and encouraging the use of video and teleconference for interactions. We are also implementing social distancing measures that will also help reduce the spread of infectious diseases, such as reducing face to face meetings and ensuring our employees can work from home as required so we have a healthy workforce able to maintain our high standard of service. The same applies to our operational specialists who maintain the integrity of our systems and processes. Equally important, we maintain strong safeguards on information and identity.
We want to ensure that there are no interruptions or delays in contacting any of our MFG team members. Please find below our mobile #’s:
Trade instructions will not be accepted via email or text, therefore please ensure you contact us by phone to verbally confirm your order.
Should there be further developments with COVID-19 that prevent access to our physical premises or disruptions with mail delivery by Canada Post, courier or messenger services, this may impact our ability to receive physical cheques. As a reminder, you can set up an “electronic bill payments” with your applicable banking institution should you wish to make an online deposit.
While the COVID-19 situation is ongoing, we are increasingly aware of its impact on both the global and local markets in which our clients operate. Our efforts will ensure that we are able to provide the highest level of client service while positioning ourselves to take advantage of the market opportunities that lie ahead.
We wish you all health and safety throughout the coming weeks.
We’re pleased to report that this project has been going very well. The RV and boat storage portion of the business is now at 80% occupancy and the existing storage facility is at 40% occupancy and strongly trending in the right direction. Management went through a process this summer to better understand if expanding the storage facility would add value to the project. As a result of their findings, the decision has been made to significantly expand the facility in 2020. At current levels, the facility is profitable and the future looks exciting. Management has been approached by several groups interested in purchasing the property. The interest has been significant enough that they are planning to officially market the property in Q1 2020 and solicit offers.
We currently have the investment on your accounts valued at book value. It is safe to say that this understates the value of your investment.