News & Updates

LONDON PIER
CENTRAL STATION

An Extranet Tool for Better Client Communications

To obtain instructions and your password for access to your investments, please contact us per email.

REAL PROPERTY REAL RETURNS™ Newsletter No. 11 / June 11, 2007

Investment Risk

• Greater reward without more risk with 2 new property investment offerings from London Pier Properties Ltd.
• Read Newsletter No. 11

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September, 2008
McCall Lake LP has sold McCall Lake Plaza in Calgary
View Progress of Cambrian Foothills Construction
August, 2008
Strathcona County’s Plan has been approved for a new city located to the East of Cambrian Industrial Park
Pacrim Super 8 Hotels – Teleconference Calls in September
London Pier Central Station - An Extranet Tool for Better Client Communications
Conference call with Stephen Maizels, CEO of The Hallstone Group
July, 2008
The Hallstone Report (July 2008)
June 30, 2008
Cambrian Projects releases Cambrian Strathcona IV LP
March 31, 2008
Development Application for Drewry submitted to City
March 25, 2008
Cambrian Foothills Medical Campus Concept Video
Cambrian Foothills site Video
October 15, 2007
Progress of Cambrian Strathcona II (October 15, 2007, Sherwood Park, AB) – Area Structure Plan
Progress of Pacrim North York (October 15, 2007, Toronto, Ontario) - Conversion of Ramada
September 7, 2007
Collingwood LP
September 5, 2007
PROPERTIES ARE BEING SOLD!
Walden Village Retirement Centre, Kanata, Ontario
McCall Lake Plaza, Calgary
Pacrim Dieppe Super 8, Moncton, NB
Pacrim Dartmouth
Canvest Capital II
July 16, 2007
Collingwood Resort Update
July 3, 2007
Cambrian Strathcona Report: Draft Area Structure Plan ready for submission to Strathcona County October, 2007

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McCall Lake LP has sold McCall Lake Plaza in Calgary

McCall Lake LP has sold McCall Lake Plaza in Calgary. In this limited partnership investment, investors have received regular quarterly distributions at 9% per annum for three years.

The sale of the property has generated an additional 60.66% distribution this week. Investors have received a return of all their capital, and there will still be another substantial distribution (up to 20%) to follow shortly.

As well, there is a vendor take-back mortgage on the sale, which remains an asset of the LP that will produce further cash flow.
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View Progress of Cambrian Foothills Construction

(September 3, 2008, Calgary) - The web camera overlooking the construction site for the Foothills Medical building has been repositioned and improved.

Using you browser, go to: http://cambrian.beca.ca/
Enter user name “user” and password “beca”

(To reset the camera position, click on the Home icon in the centre of the directional controls.)
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Strathcona County’s Plan has been approved for a new city located to the East of Cambrian Industrial Park

The city of Edmonton has lost its year-long fight against a development plan for Strathcona County that includes proposals for a new urban centre. The municipal development plan would see a city with apartments and pedestrian-friendly streets built on farmland east of Highway 21 and north of the Yellowhead Highway, which is immediately opposite the lands currently being developed by Cambrian for a 725-acre industrial park.

This "urban node" could eventually have a population of 200,000 people, many working at the nearby Industrial Heartland's oil upgraders, after Sherwood Park reaches its growth limit in less than a decade.

Click here to read the full story from the Edmonton Journal
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Pacrim Super 8 Hotels – Teleconference Calls in September

(August 7, 2008) - Limited partners are encouraged to participate in September teleconference calls with Pacrim Hospitality about the hotel operations for each of Super 8 Dieppe, Super 8 Dartmouth, Super 8 Campbellton and Wyndham (North York). Teleconference dates, times and telephone numbers are being sent out to London Pier Properties investors by email and will also accompany the Q2 2008 Quarterly Reports.

Please contact us by email if you need to request the times and phone numbers.
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London Pier Central Station - An Extranet Tool for Better Client Communications

London Pier Properties has launched a Pilot Project for an extranet to improve Investor Communications, called London Pier Central Station. For each investment project, all available documentation, photographs, progress reports, quarterly reports and messages are posted to and stored on London Pier Central Station for faster, more convenient notifications and full time access. There is no charge for use of this service.

To obtain instructions and your password for access to your investments, please contact us per email.

Access London Pier Central Station

London Pier Central Station can now be accessed from the News & Updates dropdown menu on each LondonPier.ca web page.
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Conference call with Stephen Maizels, CEO of The Hallstone Group

Missed the conference call?
You may listen to the recorded call. Simply dial 1.877.653.0545 Reference No. 460666.

Conference call on Thursday, August 7 at 8:00 am PST
(9:00 am in Alberta, 11:00 am in Toronto).

Stephen Maizels, CEO of The Hallstone Group, will speak specifically about the progress of the Hallstone Drewry and Clairtrell North projects.

This call will do a lot to boost understanding of and appreciation for these projects and Hallstone’s strategy.

Please contact us by email with your name and phone number to retrieve the phone number and access code for this conference call.

Download the Combined Investor Report for Hallstone projects as of June 30, 2008 – this will help you to keep track of which projects are being discussed.
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The Hallstone Report (July 2008)

Read The Hallstone Report (July 2008) to learn more about the Toronto condominium market and Hallstone’s strategies and products.

Sign on Inez Court site announcing rezoning application for Hallstone Drewry project.
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Cambrian Projects releases Cambrian Strathcona IV LP

(June 30, 2008, Sherwood Park, Alberta) - A fourth and final section has been added to the land assembly that will make up Cambrian Industrial Park. Cambrian Strathcona IV LP represents the final opportunity for investors to participate near the tail end of the entire development project, at a time when the scope of inherent uncertainties has been narrowed.

Work to obtain approval from Strathcona County is nearly complete, and once an approved Area Structure Plan is in place, the lands should be ready to be marketed for sale in late 2008 or early 2009.

Cambrian Industrial Park involves four contiguous sections of land. Cambrian began this project in 2006 with Cambrian Strathcona I LP (152 acres), and then added Cambrian Strathcona II LP (149 acres) and Cambrian Strathcona III. Funds raised using second mortgage loans on these properties were used to pay for the shared development fees and expenses of developing an Area Structure Plan for the area encompassing four sections, including the 156 acres of Cambrian Strathcona IV LP.

Demand for industrial land, both serviced and unserviced, has been increasing in the Edmonton area.

The chief risk at this point lies in the ordinary fact that the assembled properties, once the ASP has been approved, must be marketed and sold to an as yet unknown buyer at a price yet to be determined. This will be a relatively large land purchase, and although quite reasonable to expect a sale to take place in 2009, there is no way to predict precisely when it will happen.

The projected sale price per acre is $150,000, which the general partner bases on current comparable land sales in the vicinity. Based on that net sale price, the projected profit to investors in Cambrian Strathcona IV LP is 52 percent.
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Development Application for Drewry submitted to City

(March 31, 2008, Toronto) - The development application to the City of Toronto has been submitted in the last week.

Originally planned for 128 stacked townhouses, Hallstone’s planners and architects and senior City planning staff all recognized the potential for much higher density on the site. The Peer Review committee appointed by City Council supported the concept of a 23 story residential condominium and because of the proximity to the subway, supported a 10% increase in density.

The redesigned project includes approximately 274,000 square feet gross floor area and approximately 234,000 square feet net.

The planning approval schedule calls for completion by the end of 2008 and marketing activity can be planned for the early fall of 2008.

City staff is now preparing their report to Council which is the next step prior to the statutory public hearing. It is important to note that the application complies with the Official Plan and Secondary Plan for this area.
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Cambrian Foothills Medical Campus Concept Video

Download and view the Cambrian Foothills Medical Campus Concept Video
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Cambrian Foothills site Video

View the Cambrian Foothills site Video
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Progress of Cambrian Strathcona II (October 15, 2007, Sherwood Park, AB) – Area Structure Plan

Don Rumpel, VP of Cambrian Projects Inc., reports that he and the consulting engineer have formally presented the proposed Area Structure Plan for the Cambrian Strathcona project to the Strathcona County council, and that it was favourably received. The province is planning a new interchange at Highway 21, just north of our site, for Edmonton’s new ring road. Much of the discussion pertained to the need to develop the details of access at the north of the our site, along with the site owned by Cambrian Strathcona I, as this relates to the new interchange. While these details will need to be developed in concert with determination by the province of specifics of the route for the ring road and the precise location of the highway interchange, Cambrian is continuing on course with development of the Area Structure Plan as a whole.
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Progress of Pacrim North York (October 15, 2007, Toronto, Ontario) - Conversion of Ramada

Ramada hotel owned by Pacrim North York LP as it undergoes a progressive conversion to Wyndham Garden Estates.

It has been 11 months since this property was taken over by Pacrim Hospitality on behalf of the limited partnership. A brief site visit this past week revealed that the conversion of the Ramada to a Wyndham Garden Estates is well underway, but with much more yet to be done before the property can be unwrapped under the new flag. Painting of the exterior of this very large, ten storey building appears to be at least 90 percent complete, already providing a much needed exterior face lift. Refurbishing of the rooms is progressing floor by floor. Most of the rooms are outfitted as comfortable two-bed queens, with one or two larger king suites per floor that are ideal for use as hospitality suites during conventions.

There is a huge amount of floor space in this property for convention and banquet facilities. This past weekend, the hotel was the site of the Ontario Medical Technology Society convention, and rooms on the completed renovated floors were sold to guests for the first time.

Limited partners can expect to soon receive detailed news on the status of the renovations and the budget.
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Collingwood LP
Click here to download a copy of the sale brochure used by Norwood Resorts at the Collingwood Sales Centre
- Norwood Resorts Brochure (1.4 MB PDF will open in a new window)
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PROPERTIES ARE BEING SOLD!

See items below for details
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Walden Village Retirement Centre, Kanata, Ontario

The manager, Kingsway Arms, is negotiating with a public company for sale of the entire chain of ten retirement homes in Ontario, including Walden Village (purchased 2004). The management company would also be sold to the buyer. Occupancy rates at Walden Village have been very good.
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McCall Lake Plaza, Calgary

Management believes that now is a good time to sell this specialized retail plaza (purchased 2005), which has achieved a 0% vacancy for the first time in its history. At the same time, capitalization rates have been compressed (values are up).

Limited partners have been asked to provide authority to list the property for sale and to sell it at a minimum price of $8.0M. If sold at that price, the actual ROI to investors will be far in excess of projections, with a very substantial capital gain added to the 9% p.a. quarterly cash distributions already paid out. Original projections of 17.7% p.a. ROI were based upon a sale price of approximately $6.0M.
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Pacrim Dieppe Super 8, Moncton, NB

Cash distributions have not been made, because Pacrim deems that cash reserves may be needed to deal with the threat of a new competitor in the market – a yet to be built Holiday Inn Express that was not originally expected to receive municipal approvals.

In light of this, and recognizing that the property has not yet performed to cash flow projections, Holloway Lodging REIT is prepared to make an offer to purchase the property in Q4-07/Q1-08. The purchase price is expected to be at market value, based upon a new appraisal to be obtained. The offer will guarantee investors a minimum annualized Return on Investment of 15%, even if the appraisal does not support a value that is sufficient to generate that level of ROI. An information circular and request for proxy should be distributed by Q4 2007.
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Pacrim Dartmouth

This partnership owns two hotel properties. While the Campbellton, NB hotel was converted to a Super 8 as of early May 2007, conversion of the Dartmouth, NS hotel to a Super 8 has not been completed. Construction on the Dartmouth conversion is well underway and is progressing. Further news of the state of construction, the budget spending, and operations, are expected.

Nevertheless, recognizing that it is behind schedule, Pacrim Hospitality, the general partner, is soliciting Holloway Lodging REIT to submit an offer to purchase the two properties from the partnership. The offer will need to be approved by the REIT’s Board of Trustees. The offer price will be based upon an independent market appraisal, but will be no less than the price required to generate at least a 15 % per annum return on investment for our investors.

Investors will receive an information circular from ASG Financial Corp. to seek majority vote approval of the sale. (Each investor has one vote for each $1,000 invested. A 60% majority will be required). If the vote results are in favour of accepting the offer, this will provide investors with an early opportunity to exit the investment with a return of at least 15% per year. If the appraisals indicate a higher value, investors would receive a return on investment higher than 15% per year.

If investors vote not to sell, then management will continue with the original strategy.

Any investors who have any questions upon receiving the circular from ASG Financial may contact Frederick Margel - 604.805.0045 - fmargel[at]londonpier.ca.

Discussion: Original projections were for ROI to average 30%+ per annum. In light of this, some investors will be disappointed with a resulting ROI of only 15% per annum. Others will nevertheless be happy to see their capital returned so soon with at least a decent ROI, in addition to the benefit of substantial income tax deductions already enjoyed.
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Canvest Capital II

The sale of the office building at 222 58th Ave SW, Calgary (purchased November 2005) has been completed this Summer, and funds will be distributed to investors very shortly. Return on Investment is far in excess of original projections.
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Collingwood Resort Update

(July 16, 2007, Collingwood, Ontario) – The grand opening of the Collingwood Resorts marketing centre and showroom in Collingwood was held on July 16. Collingwood LP has purchased the first three properties and has begun to market them. We will be keeping track of the progress of sales through Don Allen, President of Norwood Resorts Inc. The equity raise of $2.25M is nearly sold out.

» View photographs of Collingwood
» Link to Norwood Resorts (Outside link will open in a new window)
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Cambrian Strathcona Report: Draft Area Structure Plan ready for submission to Strathcona County October, 2007
Excerpted from reporting letter to Limited Partners of Cambrian Strathcona Limited Partnership and Cambrian Strathcona II Limited Partnership, dated June 21, 2007

“Economic activity in and around greater Edmonton continues at a record setting pace. There is rarely a day that goes by without another major announcement regarding industrial activity. Most of this industrial activity is focused to the east of Edmonton in Strathcona and Sturgeon Counties in the area collectively referred to as the "Industrial Heartland".

Both Strathcona Limited Partnerships are well positioned to take advantage of the strong demand for light and medium industrial land. We remain confident that our strategy of adding value to the properties by developing an Area Structure Plan is the best course of action. We have engaged the following consultants in this regard:
- Focus Corporation has been selected as our lead contractor and will be responsible for the overall development of the Area Structure Plan.
- J.R. Paine & Associates Ltd. will be providing our geotechnical consulting and has already completed initial geotechnical drilling on site.
- Spencer Environmental Management Services Ltd. is currently active in the field and will be responsible for all aspects of environmental input into the Area Structure Plan.
- Bunt & Associates have been selected as our transportation consultants and will work closely with both Focus Corporation and Strathcona County to address transportation and access requirements.
In late May, representatives from Focus, J.R. Paine, Spencer Environmental and the General Partner, met on site with representatives from Strathcona County to begin the process of establishing the survey for the Oldman Creek that runs through the Cambrian Strathcona lands [Oldman Creek does not run through the parcel owned by Cambrian Strathcona II LP]. This creek survey will establish not only the environmental reserve requirements, but will also provide a logical delineation between the light and medium industrial parcels of land.

Work by all of our consultants is expected to continue throughout the summer and Focus Corporation is expecting to incorporate all of the various components and have a draft Area Structure Plan ready for submission to Strathcona County by early October, 2007.

We will continue to keep you informed of our progress and expect to provide you with an update once we are ready to submit our Area Structure Plan.”