April 30, 2021
We are pleased to report that the NationWide IV Self Storage & Auto Wash Trust (“NationWide“) investment program for our development property in at 2337 King George Blvd, Surrey BC (the “South Surrey Property”) was well received by the capital markets and as such we are fully subscribed, and the offering closed in December 2020.
BFA Studio Architects (‘BFA’), our architect submitted the Development Permit application to the City of Surrey in February, just a few months after the offering closed. BFA continues to review on a daily basis, the comments being provided back by the City of Surrey.
VISIBILITY & TRAFFIC
Offering easy access off King George Blvd and 24th Ave intersection, this South Surrey/White Rock property is near upcoming neighborhood developments occurring in the region and is only minutes away from one of the largest retail corridors in the Lower Mainland.
At present, we are simply in a holding pattern waiting for the City of Surrey to complete their review of the Development Permit Application and thereafter issue us our Development Permit. Once we get the Development Permit we will tender the job to our targeted contractors and commence construction with the winner bidder.
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This information is general in nature and does not constitute an offer to sell or an advertisement, solicitation, or recommendation to buy securities. Nothing on these pages constitutes investment, legal or tax advice, nor was it prepared in consideration of the investment objectives, financial situation, particular needs of any specific recipient. There can be no assurance that investments will perform as or be of the quality anticipated. There are risks associated with any investment.