Commercial Real Estate – Limited Partnerships
Alrich has acted as a marketing agent for the following:
- Wellington Square – office building – Barrie, Ontario – Purchased in 2007, currently 100% leased, total current annual return of 8.0% cash + mortgage reduction of 6.60% = 14.60%.
- Barrie Power Centre – retail centre – Barrie, Ontario – Purchased in 2008 – Sold in 2016 with an annual internal rate of return (IRR) of 5.43%.
- Canadian Tire – leaseback – Canmore, Alberta –Purchased in 2012 – Sold in 2015 with an annual internal rate of return (IRR) of 16.67%.
- Office building – Calgary, Alberta – Purchased in 2014, currently 75% leased with an annual non-cash return of 3.60% on account of mortgage reduction.
- Okanagan Lake Shopping Centre -West Kelowna, BC – Purchased 22.5% interest in 2016, currently 78% leased with an annual non-cash return of 6.63% on account of mortgage reduction.
- Pine Valley Estates – 76 unit apartment/townhouse complex – Prince George, BC – Purchased in 2017, currently fully leased with a waiting list, and having a forecast total first year return of 5.43% cash + mortgage reduction of 6.64% = 12.07%.
Note 1: No Churchill investor has ever lost any of their original investment to date.
Note 2: Alan Richman is a trustee of the Churchill REIT and a director in 3 of the related Churchill companies.
b) England Group
- 330 unit luxury apartment rental – Houston, Texas –Purchased in 2003 – Sold in 2014.
- 300 unit luxury apartment rental – Dallas, Texas – Purchased in 2004 – Sold in 2014.
Note: These properties were sold on a profitable basis as part of a 12 property England package.
a) Canadian Residential Retirement Investment Corporation – 2007 – 2010.
- A series of mortgages on seniors retirement and government – funded nursing homes plus some residential housing. This portfolio was sold to TSE listed Timbercreek Mortgage Investment Corp. and is now administered by Manulife Securities and paying regular monthly dividends.
M-Tax Mining Flow-throughs
Alrich has acted as a principal agent for 20 M-Tax mining flow-through limited partnerships from 2000 to date, showing an average return of 26.3% after all tax saved and repaid.