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| November 1st Re-Valuation - Less Than 72 Hours Left |
Greetings Member-Partners,
I
have good news about the factors driving the expected increase of unit
values for the Tyee Plaza LP and four of the properties in the IGW REIT
pool that are undergoing appraisal updates.
Project Updates:
Tyee Plaza (Campbell River, BC)
(See a photo of planned Shoppers Drug Mart design by clicking here.)
- Three tenants have signed new leases and have started improvements to their new space.
- Super Value store has renewed its lease at a higher rate-resulting in an immediate increase in value.
- Designs for the new space for Shoppers Drug Mart have been completed and a building permit applied for.
- All
the tenants that need to be relocated to allow the Shoppers Drug Mart
have formally agreed. Renovations to some of these spaces have already
begun. Demolition and construction for Shoppers should begin in the
next four weeks.
The Lindholm Building, Victoria
- Rezoning has been approved to allow the second floor to be extended and add more leasable space.
Market Square Plaza. Fort Saskatchewan, AB
- Leases have been signed with new tenants. Occupancy is now 92%.
Chimney Springs Apartments, Vegreville, AB
- Condo-conversion has been approved. The required building upgrades can now proceed and increased value realized.
Kensington Shopping Centre, Edmonton
- Additional re-leasing complete, and occupancy is now stabilized.
- A
development permit for Giant Tiger space has been granted. This new
national-brand tenant can now proceed with its architectural drawings.
Once complete, a building permit will be applied for and, once granted,
construction will begin immediately.
Re-Valuation Update:
The deadline to subscribe at the current rate is fast approaching.
At 4:00 p.m. on Friday October 26th League will cease to accept new subscriptions for the IGW REIT.
On
Thursday November 1st, we will announce the new (higher) unit value. At
that time, subscriptions will once again be accepted at the new unit
price.
If you intend to invest at the old rate, you must do so this week-before Friday's deadline.
If
you don't have a copy of the Offering Memorandum and Subscription Form
for the IGW REIT, just download and return your completed Notice of Interest form and we'll send them to you electronically right away.
If you still have any questions or require assistance completing your subscription forms, please call Pat Minogue at 1-877-772-8836 or send an email to pat@league.ca.
If there is anything else you need, just ask. We're here to help.
Kind regards,
Emanuel.
Emanuel Arruda, Chairman
League Assets Corp.
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The best pleasure money can give is to make it unnecessary to think about money.
- C. S. Lewis -
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League: World's Intergenerational Wealth™ Institution
Through its
expertise in providing extraordinary investment opportunities, League
helps its Member-Partners accumulate and preserve their wealth
across generations of their families. League's IGW REIT pays the highest distributions of any REIT in Canada. To date, the REIT's portfolio consists of
Canadian commercial and retail properties with combined value approaching $200 million. The trust exists to find, acquire, improve and
manage profitable real estate properties across the nation,
and to offer these opportunities to other like-minded investors.
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