On July 31, 2017, the Company announced that it entered into a letter of intent with Village View Limited Partnership No.1 (“Village View”) to acquire all of the real property located at 41 Noel Avenue, Saint John, New Brunswick
View which allowed the Company to reactivate from the NEX board to the TSXV. The purchase price for 41 Noel Avenue was $5,161,500 plus standard closing costs and adjustments. The acquired property consists of a multi-family apartment building constructed in 2014, featuring 31 units with monthly rental prices ranging from a low of $950 for a one bedroom to $1,500 for a large two bedroom. Following the completion of the Transaction, the Company will actively own and manage multi-unit residential real estate communities suited to the age 55+ resident. The company intends to offer a menu of services and amenities that enhance the lifestyle and independence of this growing part of Canada’s population.
The Company’s investment property generated gross rental income of $46,442 and net operating income of $32,213 for the three month period September 30, 2018.
https://www.viverecommunities.com https://www.chfr.ca/properties/41-noel-avenue/