Halifax Apartment Portfolio

Halifax, Nova Scotia

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The Property

A portfolio of 622 apartments in thirteen existing buildings in Greater Halifax. Vacancy rate in 2003 was 3.35 %. Ten commercial units. Two of the buildings are high rises; 11 are low rise buildings.

 

The apartments in two of the buildings are condominiums, and there is potential to convert other buildings to condominium form.

 

Future gains are expected to be generated from sales of some of the apartments as condominiums. Gains can also be realized from the future sale of one or more buildings.


DID YOU KNOW?
Some people use new lines of credit to purchase their investments. They use the quarterly cash flow payments to make the payments on the loan.

The Investment

Investors receive:

8% per annum cumulative preferred return, paid quarterly,
70% of any excess cash flow from operations, and
70% of any excess proceeds of any future sale (or refinancing), in addition to return of capital.

Minimum investment amount is $25,000.

 

The Manager

McClintock Property Management Inc. Its principals have a 25 year track record of successfully managing commercial and residential income properties.

 

The Documents

Executive Summary Offering Memorandum