Henley Properties II Limited Partnership
5910-5970 Rochdale Boulevard, Regina, SK
PROPERTY HIGHLIGHTS
Building Details
- 16,681 Sq Ft
- 13 Tenant Bays
- 3 Buildings
- 97 Parking Stalls
Property Highlights
- High Exposure Location
- Competitive Rental Rates
- Fast Food Anchor
- 100% Occupied
Per Unit:
$ 24,700
Current Tenants
Neighbourhood
Rochdale Centre is situated in the Lakewood neighbourhood of Regina on Rochdale Boulevard, the main commercial artery in the northwest area of the city. According to ICR Commercial Real Estate’s second quarter 2023 Regina Retail Survey, Rochdale Boulevard has a vacancy rate of 1.35% compared to a citywide vacancy rate of 3.75%. Rochdale Centre is currently fully occupied.
PROFIT THROUGH
PARTNERSHIP
$24,700
INVESTMENT PER UNIT
$12,630*
INITIAL WRITE-OFF
Initial write-off may be partially offset by any income earned in the first year. In addition, write-offs are available beyond the first year, which may be used within the partnership to offset income that would otherwise be taxable.
Capitalization
of Project and Equity Requirement
Total Capitalization:
61 Units @ $58,085 = $3,543,185
Equity Requirement:
61 Units @ $24,700 = $1,506,700
- Principals and senior employees of the Project Sponsor purchase up to 5 of these units.
- Equity contribution includes $1,000 per unit refundable contingency reserve.
- All funds required for the initial refurbishment of the property are covered by this
equity injection. - You may not be able to sell these securities except in very limited circumstances.
14 Year**
ANTICIPATED MORTGAGE PAYOUT
During the later years of the project, investors may realize
capital gains if the property is sold.
$5,000**
TARGETED NET RENTAL REVENUE AFTER DEBT REPAYMENT
Annual operating surpluses will be distributed to investors, as available.
LIMITED LIABILITY
- Ownership is structured through a limited partnership.
- Investors’ liability is limited to the amount of their equity investment.
- No recourse to investors by mortgagees.
* The investment is structured to take advantage of the write off of costs associated with acquisition and takeover of the property, new leasing and enhancement of existing leases, distribution of the partnership units, placement of mortgage financing, and the provision of various financial services. As well, a portion of the funds raised through this offering is dedicated to the costs of tenant leasehold improvements and building exterior and site refurbishing, which are subject to immediate, 100% write off. These write-offs are available to investors in accordance with several provisions of the Income Tax Act (Canada) to set off against their income from other sources, as well as from this partnership, in the early years of the project. Partnership income may also be partially offset throughout the life of the investment from Capital Cost Allowance deductions.
** Estimate based on the business model of Millennium III Capital Corporation and the operation of similar projects and properties. Certain statements contained in this investment summary constitute forward-looking statements. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “target”, “expect”, and similar expressions are intended to identify forward-looking statements. Such statements reflect Henley Properties II Limited Partnership’s current views with respect to future events and are subject to certain risks, uncertainties, and assumptions (known and unknown). Many factors could cause actual results, performance, or achievements to vary from those described. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this document as intended, planned, anticipated, sought, proposed, believed, estimated, targeted, or expected. Henley Properties II Limited Partnership does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law.
Please refer to Item 10 of the Offering Memorandum for Risk Factors.
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