On October 17, 2007 Plaza 14 unit holders held a special meeting to consider a refinancing proposal on the property. The Limited Partners voted to accept the proposal and as a result received an equity take out resulting in a return of 81% on their initial investment. This brings the total return to investors achieved to date for this property to 104% in less than 3 years.
An original investment of $25,000.00 has to date seen a return of $26,056.00. Investors continue to maintain their original equity portion in the building and continue to receive quarterly distributions.
First Street Plaza Sale
76% return to investors in 23 months
On September 26, 2006 First Street Plaza unit holders held a special meeting to consider an unsolicited offer on the property. The Limited Partners voted to accept the proposal and as a result received a total return of 76% over 23 months.
An original investment of $50,000.00 grew to $87,907.27.
926/Parallel Sale
54% return to investors in 16 months
On September 26, 2006 unit holders in 926/Parallel held a special meeting to consider an unsolicited offer on the properties. While the majority of Limited Partners voted to accept this offer, the required 75% vote was not achieved and as a result this offer was rejected.
On October 30, 2006 the Limited Partners gave consent for the General Partner to negotiate with this potential purchaser, and a higher sales price was agreed to, which was approved by the Limited Partners. As a result investors received a return of 54% in a period of 16 months.
An original investment of $50,000.00 grew to $77,107.31
Pierre Lueders- Canadian Olympic Bobsled Team- 1998 Gold Medalist & 2006 Silver Medalist
