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NationWide Express Auto Wash Trust
Trust Overview
Current Status: Trust Offering Closed, Waiting for Build Permit
The NationWide Express Auto Wash Trust (the “Trust”) investment offering was well received by the capital markets and closed on March 2021. The Trust expects to receive its build permit to develop its Express Auto Wash property at 1035 Lougheed Highway, Coquitlam, BC on or about Q4 2022 or Q1 2023.
Income Trust Details
The Trust is structured to provide holders of participating preferred trust units (Trust Units) with a robust source of tax-advantaged income paid monthly and the potential for annual special cash distributions, while preserving and growing the original capital investment.
| Fund Facts | ||
|---|---|---|
| Current Trust Unit Value: | $100 per Trust Unit | |
| Fund Type: | Income Trust | |
| Sector Focus: | Car Wash Commercial Real Estate | |
| Inception Date: | January 8, 2021 | |
| Offering Closed: | April 30, 2021 | |
| Offering Size: | $10,000,000 | |
| Estimated Liquidity: | Est. 5-7 years | |
| FundSERV Codes: | Class A CDO NW051 / Class F CDO NW052 | |
Cash Distributions
Monthly cash distributions to investors generally start 18-24 months from the closing of an offering and is dependent on the opening and occupancy levels of the facility.
For updates regarding this facility, please refer to our posted investor updates.
T3 Statement of Trust Income Allocation (T3 Tax Slips) are sent out on or before March 31st in the years that Trust Income (Cash Distributions) is paid out to Investors. T3 Tax Slips are mailed out from NationWide’s back office to the investors.
For status of Cash Distributions, please visit the Cash Distributions tab.
DISCLAIMER
This is not a formal offering document. Prospective purchasers of this investment opportunity were provided with a formal Offering Memorandum and needed to be qualified for investment prior to making any investment. No person has been authorized to give any information or to make any representation not contained in the formal Offering Memorandum. No securities regulatory authority or regulator has assessed the merits of the proposed offering or reviewed the formal Offering Memorandum.
This investment opportunity is speculative and involves a high degree of risk. There is a risk that any investment made will be lost entirely or in part. Only prospective investors who do not require immediate liquidity of their investment and who can afford the loss of their entire investment should consider this investment.
Investor Updates
Investment Strategy
Using Strategy Two, the Trust has elected to develop a combination car wash property for this trust offering. Below is the estimated timeline for the development:
- Strategy 1
- Strategy 2
- Alternative Strategy
Develop New Car Wash Properties
YEAR
Acquire land and commence construction
YEAR
Open car wash properties and market to fill units followed by cash flow
YEAR
Refinance with long-term debt at a maximum loan to value of 65%
YEAR
Position for maximum targeted sale price and investor liquidity
Estimated Timeline
Frequently Asked Questions
When will monthly cash distributions commence?
Cash distributions to investors are estimated to commence approximately 12-30 months of the final investment closing, however cash distributions may commence within 3 months after acquisitions of an already existing storage facility or within 18 months after the development or retrofit of an existing warehouse into a self storage facility.
How and when do investors receive their tax slips?
On or before March 31 of the year following the announcement of cash distributions in the Trust, investors will be mailed a T3 – Statement of Trust Income Allocations and Designations from NationWide’s back office. Investors will receive a T3 for each year they own Trust units.
When will the liquidity event take place and what will investors receive at that time?
Liquidity is expected to occur within approximately 5 years, unless the Trustees decide, in their discretion, to extend the termination date for up to two additional two year periods. Terms and timing of a liquidity event (if any) will depend on opportunities available at the time.