| First closing: |
June 8, 2011 |
| Second closing: |
June 23, 2011 |
| Total units: |
19,824 |
| Per unit: |
$1,250 USD |
| Minimum return: |
8% per annum |
| Equity raised: |
$24,780,000 |
| Total portfolio acquired to date: |
$52,545,000 |
| Number of properties to date: |
2 (2 divested) |
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Properties by Purchase Price |
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Grand Parkway (90% interest)
Houston, TX |
Purchase price: |
$29,250,000 |
| Purchase date: |
June 2011 |
| Rentable area: |
303,268 sq. ft. |
| Site area: |
16.158 acres |
| Number of units: |
342 |
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Sale price: |
$36,360,000 USD |
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Complex Amenities: |
Executive business and resident social areas within the clubhouse,
athletic centre, cardio theatre, cyber lounge, resort style pool area
with sunning ledge, fountains, waterpark, poolside grilling |
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Embassy Suites Dallas Fort Worth
Dallas, TX |
Purchase price: |
$22,295,000 |
| Purchase date: |
July 2011 |
| Site area: |
6.6 acres |
| Gross building area: |
182,111 sq. ft. |
| Number of units: |
305 |
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Sale price: |
$35,575,000 USD |
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Hotel Amenities: |
Heated indoor pool and whirlpool, a fitness centre, on-site self-service laundry and valet service, a business centre, audio-visual equipment rentals, a gift shop, and local area transportation |
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