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NationWide Self Storage & Auto Wash Trust
Trust Overview
Current Status: Trust Offering Closed, Facility Open
The NationWide Self Storage & Auto Wash Trust (the “Trust”) investment offering is now closed and the self-storage and car wash facility successfully opened July 2020 in Kamloops, BC. Please visit our Property Overview tab for further details on operations to date.
Income Trust Details
The Trust was structured to provide holders of participating preferred trust units (Trust Units) with a 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: | Self Storage Commercial Real Estate | |
| Inception Date: | January 25, 2018 | |
| Offering Closed: | July 30, 2018 | |
| Offering Size: | $12,500,000 | |
| Estimated Liquidity: | 5—7 years | |
| FundSERV Codes: | Class A CDO NW031 / Class F CDO NW032 | |
Cash Distributions
Monthly cash distributions to investors began on September 30, 2020.
Month-end Distribution
|
Amount |
|
| As at September 30, 2020 | $0.10 | per Trust Unit |
| As at October 31, 2020 | $0.10 | per Trust Unit |
| As at November 30, 2020 | $0.10 | per Trust Unit |
| As at December 31, 2020 | $0.10 | per Trust Unit |
| As at January 29, 2021 | $0.10 | per Trust Unit |
| As at February 26, 2021 | $0.15 | per Trust Unit |
| As at March 31, 2021 | $0.15 | per Trust Unit |
Tax Reporting
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 all non-registered investors. Investors who hold registered accounts with a Trust Company will receive tax filing documents from their Trust Company.
Cash Distributions for this fund began on September 30, 2020, please visit the Cash Distributions tab above
For tax filing guidance for this fund, please view our Tax Filing Guidance Sheet for the 2020 tax filing year.
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 elected to develop a combination storage/car wash property for this trust offering. Below is the estimated timeline for the development and liquidity:
- Strategy 1
- Strategy 2
- Alternative Strategy
Develop New Storage Properties
YEAR
Acquire land and commence construction
YEAR
Open storage 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 event is expected to occur within approximately 5 to 9 years. It is anticipated that investors will receive cash or shares of a publicly traded company, but the terms and timing of a liquidity event (if any) will depend on opportunities available at the time.