Euro Canada IC Properties Inc. (EC), a Canadian subsidiary of IC Real Estate Group, uses the trend of prices on the Canadian real estate market to liquidate a further closed-end real estate fund.
IC Fund Canada 04 had invested equity capital of approx. €3.8 million (5.84 million CAD) in three logistic and retail properties in the industrial area of Burlington near Toronto (Ontario Canada).
The properties bought for a purchase price of approx. €4.9 million (7.6 million CAD) had been almost completely rented over the term of the fund and were finally sold in two transactions for a total of €8 million (13 million CAD).
The property management and the selling transactions were handled by Euro Canada IC Properties Inc.. EC is a full-service provider for Canadian and also international investors and in addition, gives support in asset management and ongoing portfolio management.
Including the regular divided payouts, the reflux of capital for investors after fund liquidation is totalling 265.2 % of the invested capital before taxes. The profit yields an average interest rate of about 8.3 % before taxes.
