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Monday, March 1, 2010
Greetings Member-Partners of the IGW REIT,
I am extremely pleased to report that after a review of selected properties within the IGW REIT by Colliers International Realty Advisors confirms that as of March 1, 2010, that the unit values for the traditional Class A and AA REIT units increased from $0.996 per unit to $1.002 per unit, a gain of 0.602%. The distribution remains unchanged at 7.25 cents per unit per annum.
The new unit values also represents a near return to the values of May 2009, when the unit values for Class A IGW REIT units stood at $1.014 per unit; this is another reason why we believe the worst indeed may be over.
You can take added comfort in the fact that this revaluation of the units was based on independent property revaluations, within accordance of the 19th tenet of Our Credo, "We believe that informed Member-Partners can be relied upon to make their investment decisions quickly and independently when presented with all the necessary facts."
A New Series of IPUnits:
At this time, it also gives me great pleasure to introduce to you our newest series of Income Priority Units, the Series 7, which has a seven-year term and a rate of 9.25%. Currently, this offering is only available to individuals who are either Accredited Investors or who have a minimum of $150,000 to invest. However, I do expect that the Series 7 IPUnits will be included in the next update to the IGW REIT Offering Memorandum, due May 1, 2010, which at that time they will be available to all qualifying investors.
Meanwhile, the one-year, three-year and five-year rates for the Income Priority Units remain unchanged at 6.0%, 7.0% and 8.5%, respectively. If you are looking a for a fixed-term investment, we believe that even more so now, our IPUnits are an excellent offering and continue to be worthy of your attention.
Analysis and Review:
If you read last week's State of the Units letter you know that our resurgence is due to a number of factors, first and foremost the hard work of our leasing and development teams and a rebounding real estate market.
At this same time, we are also benefitting from a Canadian economy that is defying all expectations. According to a report issued today by Statistics Canada, the Canadian economy surged ahead by 5% in the final quarter of 2009, up from 0.9% in the previous quarter. This performance bested the predictions of many experts, including those of the Bank of Canada, who estimated that growth would come in at 3.3%.
We believe that this increased economic activity has both an indirect and direct bearing on the values of the properties within the IGW REIT portfolio and therefore the unit value of the REIT itself.
Once again, I close this letter in the spirit of gratitude. I am especially grateful to you our Member-Partners, who out of liked-mindedness and faith in our larger vision, stood together through our darkest days, that are now, thankfully, history. This affirms our shared Credo, especially its 12th tenet where we state, "By inviting new friends to become members with us in League, and in turn partnering with them and reinvesting their capital alongside theirs, our interests are always aligned. United by this philosophy of positive interdependence, we will reach ever greater goals, confident that we share the same concerns, interests and aspirations."
It is only because we have joined together to achieve our common goals that we are where we are today. Together we have set our course and together we will reach our destination.
Warmest regards,
Emanuel F. Arruda
Founding Partner
League Assets Corp.
Learn, Earn, Live, Give.™
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"Deeds, not words, build a business reputation."
-- E. A. --
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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. |
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About League Assets Corp.
Click to download:
League: The World's Intergenerational Wealth™ Institution
Through
the provision of investment education and opportunity, League helps
individuals and families create Intergenerational Wealth™ while
contributing to the betterment of society.
Victoria, BC-based
League Assets Corp. manages the IGW REIT, one of North America's
fastest-growing private Real Estate Investment Trusts, comprising a
portfolio of Canadian commercial, industrial, multi-family residential
properties which, together with the other entities that League
administers, has combined assets approaching $400 million. The IGW REIT
exists to find, acquire, improve and manage real estate properties on
behalf of its more than 1,800 Member-Partners. Combined with its other
investment pools, League is currently managing and developing assets
with approximate build-out values totaling $2 billion.
For more information, read The Blue Book of Real Estate Syndication.
How to Join League
If you've already read the Blue Book, just complete and return a Notice of Interest form (below) for either the IGW REIT, or one of League's other investment pools.
Once received, your Member Services Manager will send you the Investment Overview, along with the Offering Documents and Subscription form. These documents provide the disclosure you'll rely on to make your final investment decision, including the investment's structure, finances, risks, and rewards.
If you have any questions or need help understanding any of the material, your Member Services Manager is always available to help.
Download the Notice of interest form:
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Where to get help:
Need help with your subscription or questions about an investment?
Call 1-877-772-8836 and ask to speak with a Member Services Manager.
Looking for status updates on our projects?
News and updates are released to all our members simultaneously and posted on our website as quickly as confirmed information is supplied.
To read the latest, visit: www.league.ca/newsroom/
Other Information:
New unit values are announced on the last day of February, May, August and November.
The State of the Units Report is published quarterly in March, June, September and December on the Newsroom page of League's website. This includes detailed updates on ongoing activities at each property.
Distribution payments
begin on the 21st day of the month following the day you invest. You
need not wait until the next revaluation to subscribe and begin
receiving your distribution payment.
Tax slips are issued for Limited Partnership and REIT unitholders by March 31st each year. Please note that electronic filing is not possible for Limited Partnerships less than one year old.
To review how the revaluations are performed, click here or review the Frequently Asked Questions section of the current Investment Overview available in the Members Area of League's website.
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