Below are some articles about what's been going on at Prestigious Properties lately. For the latest news about economic areas we deem the best to invest in, and other intesting topics please visit the following pages:Top 10 article picksCanada, Alberta, Saskatchewan, British Columbia, and About Multifamily Investing.
Prestigious Properties sells Yorkton, SK Apartment Building Portfolio
This is how we do it. We invest in properties and then sell them for a healthy profit down the road. We have completed the sale of four properties in Yorkton, SK to Nexus Asset Group Inc. of Calgary for $7.771M for 126 suites in a transaction that is the largest Yorkton apartment building sale in recent history. This benefits Prestigious' cash-flow in an impressive portfolio of revenue-generating rental properties which now exceeds 1,110 units, $90 million in asset value and over $45 million in equity in Western Canada and the U.S.
Read more about in the press release here.
Kings Castle Investment Opportunity Acquires Its First Property
We are pleased to announce the acquisition of Castleview Park Apartments, a 120-unit apartment building in Calgary, Alberta. The purchase of this asset, in Calgary’s expanding NE quadrant, grows Prestigious Properties holdings to over $90 million in assets. Since its inception in 2000, the Prestigious Properties portfolio has expanded to over 1200 units, of which over 40% are in Alberta.
After sitting on the acquisition sideline in Alberta for well over three years due to excessive prices, we’ve decided to enter the Calgary market. According to a recent research report by the Real Estate Investment Network (REIN), Calgary is the #1 city for real estate investment not only in Alberta, but for all of Canada.
This is a major apartment building purchase in Calgary and is valued at $14.65 million. Please read our press release here.
Your money sitting in a 1% money market fund may be safe, but with inflation it will erode over time. Hence, investing with us in hard assets with inflation-protected income, low volatility and high-demand may be the right choice for you! Economic forecasts can vary, and the stock market can sometimes go up and down dramatically, but some local economies are always thriving and rental accomodations are in demand. That's where we like to buy, and we invite you to join us in this unique real estate investment class that is uniquely low risk, with great potential upside through cash-flowing real estate.
To learn more about the Kings Castle LP
please visit out Investment opportunities page.
Prestigious Properties Was Proud Sponsor Of The CAUSE
2010 CANMORE ROCKY MOUNTAIN
HALF-MARATHON 10KM & 5KM RUN/WALK
With many people wondering whether their "RRSP will make it to the finish line" and as a company with one of our home bases in Canmore Alberta, we jumped at the opportunity to sponsor this half marathon event for CAUSE (Christian Aid For Under-Assisted Societies Everywhere).
Great fun was had by all, and as the lead sponsor we hope that a few more people out there now know about the great investment opportunity we represent. But most importantly, we're happy to have contributed to a worthwhile cause.
Congratulations to Duncan Marsden of Calgary AB for winning the half-marathon title in a time of 1:15:29 and Sonja Beyer for coming in 3rd in her 16-19 age group (she is the gal on the left, jumping)!
We're proud to have contributed to such a worthwhile cause! To find out more about CAUSE, please visit their website.
REIN calls in the experts at Prestigious properties to help teach at their Multi-Family Properties Bootcamp
August 28-29, 2010 : Shaw Conference Center, Edmonton
Thomas Beyer, President of Prestigious Properties, was one of the main speakers at this special education event hosted by REIN (Real Estate Investment Network).
The focus of the 2-day workshop was on building wealth in the same real estate investment sector that we specialize in at Prestigious Properties.
This workshop focused on the teaching people how to invest in mulit-family rental properties by themselves. Here at Prestigious Properties we follow the same priniciples on behalf of our investors who prefer to "become a landlord without the hassles.™"
This packed event taught attendees the fundamentals of successful investing in this uniquely stable real estate class: step-by-step how to choose the right buildings, how to arrange financing, how to renovate and manage to maximize return, and how to use the keys to managing their return on investment long term through property management firms, refinancing, and possible condo conversion.
Prior to the event Thomas Beyer gave an exclusive interview to Russell Wescott, Vice President of REIN (Real Estate Investment Network). The interview is part of the "Real Estate Investing in Canada" series.
Listen to the interview right now.
We Capitilize On Low Interest Rates Again with $8.5 Million Dollar Purchase in Abbotsford B.C.
We have completed the acquisition of a 108-suite apartment building in Abbotsford, from TransGlobe, with a CMHC insured mortgage at a record low interest rate of only 3.5%.
This benefits the cash-flow in our impressive portfolio of revenue-generating rental properties which now exceeds 1,250 units, $90 million in asset value and over $45 million in equity in Western Canada and the U.S.
Once again, this low-rate CMHC-insured financing exemplifies the strength of our investment business model. In good times or bad, the appraised value remains high for apartment buildings. Meanwhile, they continue to produce cash flow for our investors.
This Abbotsford purchase should do particularly well for us since it has significant size and was purchased with exceptional terms.
To read the press release, click here.
Our Wetaskiwin Property Refinanced To Take Advantage Of Record Low Interest Rates
We've been doing so well with this property that we decided to issue a press release when we recently refinanced it-- a good news story amid all the economic doom and gloom in the news these days.
This low-rate CMHC-insured refinancing exemplifies the strength of our investment business model. In good times or bad, the appraised value remains high for renovated apartment buildings and rental properties like this one in Alberta. Meanwhile, they continue to produce cash flow for our investors, and over time they offer great potential for significant equity appreciation.
To read the entire press release, click here.
Phase 2 Sales Continue (Phase 1 is 95% sold out)
Kensington Manor is a hot property in Camrose Alberta, and we are currently selling individual units to investors who want to become "landlords without the hassles."
It took only days for most of the 42 units in Phase 1 to go to be snapped up by investors, and now in Phase 2, we've released an equal number of units in the sister building.
Kensington Manor is located in the City of Camrose, 50 miles southeast of Edmonton in the Edmonton-Calgary corridor known as the Alberta economic “tiger”. Camrose has consistently shown an annual population growth rate of 2.3% and was ranked the number one city in Canada for growth companies in an article published in Profit magazine.
Find out more at the Kensington Manor website.
