InvestPlus Reit expands Portfolio
InvestPlus Reit expands Portfolio. InvestPlus Real Estate Investment Trust (the “REIT”) is excited to announce the addition of a 30,000 sq ft commercial building to its portfolio for $5,000,000 at a purchase cap rate of 7.4%. Possession is scheduled for July 2, 2020. This marks yet another accretive property added to the portfolio this year and continuing on an aggressive growth trajectory for 2020.
The InvestPlus REIT was also able to secure financing with a 75% loan to value at a rate of 3.6%. The property was secured as a five-year term on its mortgage and is projected to be accretive by more than $130,000 after unit-holder distribution.
The building is located in Red Deer, AB on three acres of land and was built in 2014 with the ability to expand the building in size and with additional bays. The tenant is also worth noting as this building is their North American headquarters and has a strong covenant. The tenant is in the business of manufacturing fire-retardant workwear for the transportation, forestry, mining, and oil and gas industries and is estimated to be within the top three suppliers in North America. InvestPlus REIT is excited with the addition of this asset and continues to grow with an ever-increasing and diversified portfolio in Western Canada.
About InvestPlus Real Estate Investment Trust
InvestPlus Real Estate Investment Trust (IP REIT) is a private real estate investment fund, based in Calgary, Alberta. InvestPlus REIT is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition, ownership and management of commercial and residential properties in primary and secondary markets in western Canada. Management has transacted over $90,000,000 in buildings comprising of 22 buildings in the provinces of BC, Alberta and Saskatchewan. The current portfolio is appraised at $47,020,000 and comprised of 11 commercial and residential buildings. Read the top 5 reasons to invest in a REIT.
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Alberta Premier Jason Kenney visits the IFR Building