CANMORE, AB, Oct. 2 /CNW/ - Prestigious Properties has completed the
purchase of a 308-unit apartment building in suburban Dallas, adding to an
impressive portfolio of revenue-generating rental properties which now exceeds
1,000 units and $75 million in assets in Western Canada and the U.S.
A rising player in the North American rental real estate market,
Prestigious Properties has developed a highly successful investment strategy
which has drawn an enthusiastic response from hundreds of satisfied investors.
Prestigious Properties invites investors to participate in the syndicated
purchase of rental properties, which are carefully examined and selected for
their ability to generate reliable quarterly cash flow with the potential of
significant equity appreciation.
Company president Thomas Beyer is bullish on the company's business model
and pleased by its surging growth profile.
"In any economy there is a need for reasonably priced, well situated and
appropriately renovated apartments," Beyer explains his investment philosophy.
"Renting is becoming the economic choice of many because housing, condo and
construction costs are so high and because the threat of rising interest rates
remains with us," he adds. "This presents an enormous opportunity for
investors who seek stable, long term investments with cash-flow and equity
growth, whether the economy is strong or weak."
In a nutshell, Prestigious Properties buys undervalued apartment
buildings in undervalued urban markets. The company renovates, manages and
eventually re-finances these properties while both equity values and rents
increase over time. Under terms of a pre-arranged exit strategy, syndicates
ultimately dispose of the asset for ROIs which have historically ranged in the
double or triple digits.
Although the company's investment formula entails a nominal element of
risk, it has met with approval from more than 220 investors, who have poured
more than $20 million into these syndicated LP agreements.
Prestigious Properties has also forged strong business relationships with
a number of Canadian banks and lending institutions.
"We have worked with Prestigious Properties for more than seven years. It
is fascinating to see them grow from only 15 suites to well over 1,000 units,"
says Dennis Aitken, VP Mortgages & Regional Manager-Prairie, of People's
Trust, a leading Canadian provider of financial services. "We have quite a few
mortgages with the group and we think they run a great business," adds Aitken.
Douglas Thiessen, Managing Partner and COO for Prestigious Properties,
"The current U.S. sub-prime mortgage crisis has caused many would-be home
owners to re-consider their choice of housing. Tightening credit requirements,
in addition to higher down payments, translate to stronger demand for rental
accommodation, rising rents and lower vacancies, especially in the U.S. but
also here in Canada. We can currently buy apartment buildings in Texas for
less than half the price of a similar property in Saskatchewan, and a third of
the price paid in Alberta. This represents a significant opportunity for our
Prestigious Properties is a privately owned, Alberta-based company which
creates wealth for investors by offering well selected real estate investments
that provide positive cash flow, tax free equity growth, and hassle-free
management, for the benefit of tenants, communities and investors.
For further information:
For further information: (403) 678-3330, firstname.lastname@example.org,