BURLINGTON, ON, July 6, 2017 /CNW/ -
Valuation of Units
As most of you know, we have operated the St. Charles Village retirement facility for 30 years as of this May, and a substantial number of our limited partners have been with us since our initial public offering in 1985. Frequently, we receive inquiries from parties who are dealing with estate matters as to the "value" of the issued units for the partnership. To provide a more useful response to those inquiries, we have engaged a professional business valuator, SB Partners Valuations Ltd. ("SB Partners"), to assess the fair market value of the issued and outstanding partnership units of St. Charles Village Limited Partnership (the "Partnership"), and the results of this valuation (the "Valuation") are summarized below. The purpose of the Valuation is to provide you with information to assist in planning and managing your estates. Valuations such as this are, of necessity, estimates and therefore, result in a value "range" rather than a specific amount. Unitholders and/or their representatives will have the value range to help make decisions appropriate for their particular circumstances.
The Valuation concludes that, based on the scope of SB Partners' review and subject to the assumptions, restrictions and limitations provided for therein, as of December 31, 2016, the fair market value of the Partnership falls within the range of $5,171,000 to $4,878,100. The allocation of that range to the classes of units indicates that the fair market value of each Class C Unit falls within the range of $10,856 to $11,408, each Class D Unit falls within the range of $7,475 to $8,027, and each Class E Unit has a fair market value of $3,396.
Thank you again for your ongoing support of the Partnership. We trust that the above will be useful in organizing your affairs.
Director of Amelia Properties Inc.,
The General Partner of St. Charles Village Limited Partnership
SOURCE Amelia Properties Inc.
For further information: Lana Paron, Director of Amelia Properties Inc., The General Partner of St. Charles Village Limited Partnership, T: (905) 525-7620, E: [email protected]