The Wesbrooke is set to open later this year, and the monthly distributions will start flowing to subscribing Member-Partners not long after

With construction progressing quickly and a palpable buzz of anticipation in the air, the countdown is on as the grand opening of The Wesbrooke approaches. The project remains under budget and on schedule for completion by September 1, when residents will start moving in.

The Wesbrooke -- located in Pitt Meadows, a small town about 30 kilometres east of Vancouver -- will be a four-storey retirement residence with 114 upscale suites available for rent. It will also include a 9,500-square-foot seniors' centre, complete with a large hall that has a stage, a lounge, and a variety of rooms for arts-and-crafts, billiards and other purposes.

As reported this fall in the Pitt Meadows Today newspaper, the complex will "complement the adjacent Pitt Meadows Family Recreation Centre, new Library, future Aquatic Centre and forms an integral part of the Civic Centre. The new seniors facility will provide much needed room for growth in the breadth of activities available to seniors in Pitt Meadows."

Meeting an urgent need

The people of Pitt Meadows and the surrounding area have long been waiting for a project like this to urgently meet significant demand for seniors' housing. In fact, this facility will be the only one of its kind in the community so there is keen interest. Deposits have already been taken on 50 units, and marketing and advertising efforts have barely begun!

Communicating the slogan "Our Home is Your Home," prominent signage was recently erected at the site, outlining how the facility has junior studio, one-bedroom and two-bedroom suites available for rent, for both independent and supported living. Meanwhile, as the site starts to take shape and word continues to spread, employment applications are flooding in.

Monthly distributions may be ahead of schedule

At this point, nearly half of the units are already rented due to strong local interest via word of mouth. This is an excellent trend given that a comprehensive eight-month marketing blitz is still to come while construction continues. Considering the success to date without marketing, we are confident of meeting The Wesbrooke's rental target goals when our marketing efforts get underway to promote the attributes of this compelling project.

This is great news for Member-Partners who subscribed to The Wesbrooke Retirement Limited Partnership because distributions will commence once the property is mostly rented out.

With all of this interest we believe there is a strong possibility that distributions may come ahead of schedule. As always, we will keep you posted.

DISCLAIMERS:

This document is for information purposes only and is not an offer to sell or a solicitation of an offer to purchase securities. Any offering will be made by way of offering memorandum or, in Ontario and Quebec, will be made only to accredited investors or those investing more than $150,000.

There are risks associated with this investment, which risks are discussed in the offering memorandum and subscription agreement. You are encouraged to read the offering memorandum (available upon request) and the subscription agreement before making your investment decision.