NationWide Self Storage & Auto Wash Trust
NationWide Self Storage & Auto Wash Trust is now closed.
INCOME TRUST DETAILS
NationWide Self Storage & Auto Wash Trust (the Trust) was 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.
|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|
|Estimated Liquidity:||5—7 years|
|FundSERV Codes:||Class A CDO NW031 / Class F CDO NW032|
Monthly cash distributions to investors generally start 18-24 months from the closing of an offering and is dependent on the opening of the facility.
NationWide Self Storage & Auto Wash Trust – Kamloops Status Update
The Kamloops development property received their build permit in January 2019 and has begun construction with an estimated completion date of Q4 2019.
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 for the offering to which you invested in.
TAX REPORTING FOR THE 2018 TAX YEAR
Purchased Property Overview
The Trust has purchased the property located in 1500 Hugh Allan Drive and will develop this property into a combination self storage/car wash facility. The property offers excellent exposure off the Trans-Canada Highway and is approximately 5 kilometers from the downtown Kamloops core.
View Property Overview page.
Using Strategy Two, the Trust has elected to develop a combination storage/car wash property for this trust offering. Below is the estimated timeline for the development:
- Strategy 1
- Strategy 2
- Alternative Strategy
Develop New Storage Properties
Acquire land and commence construction
Open storage properties and market to fill units followed by cash flow
Refinance with long-term debt at a maximum loan to value of 65%
Position for maximum targeted sale price and investor liquidity
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.