(PRWEB) May 5, 2010
UrbanStar Capital, a Canadian real estate asset management and investment firm, today announced UrbanStar Glendale Manor Inc. (the “Corporation”), a 250-acre, $14,000,000.00 land investment offering in Alberta, Canada. The offering is RRSP and TFSA eligible and available for investment on May 15, 2010.
UrbanStar Glendale Manor Inc. is set in the foothills of the Rocky Mountains yet close to a major Canadian urban centre. The subject is located approximately 6-7 miles west from the city of Calgary and 2-3 miles east of the town of Cochrane in Alberta, Canada.
UrbanStar Glendale Manor Inc’s offering is up to $14,000,000.00 (the “Offering”). The Corporation will issue units of the Corporation consisting of: (i) $1,000 of principal amount of a debenture (RRSP eligible) secured against the property and providing for an 8% per annum non-compounding deferred interest payment; and (ii) one (1) non-voting Class B share (TFSA eligible). Upon completion of the development or sale of the Property, 80% of the net profits will be: (i) applied toward payment of deferred interest on the debentures; and (ii) the remaining amount will be distributed to investors by way of a dividend on the Class B shares.
Upon completion of the offering, the Corporation intends to use the net proceeds to provide capital for the acquisition of approximately 250 acres of raw land identified as UrbanStar Glendale Manor Inc. In order to maximize the Corporation’s return on its investment in the property, the Corporation may decide to carry out concept planning on the property before it sells it. The Corporation may also decide in the future to develop or participate in the development of the property. The Corporation expects to monitor the property and prevailing market conditions in the area with a view to selling it for a profit.
To learn more about the company’s land investment opportunities, business strategy, and extensive list of services, please visit http://www.urbanstarcapital.com/ or call 403-984-4050. The office is located at 6023-4th St SE, Calgary, AB, T2H-2A5. Contact person: Guy Priddle, President UrbanStar Capital.
This press release does not constitute a solicitation or an offer to purchase the securities referred to herein. All offerings carried out by UrbanStar Capital will be made to qualified investors under an Offering Memorandum available from the office of UrbanStar Capital and in compliance with applicable securities laws of the specific jurisdiction in which the offering is being made.
About UrbanStar Capital
Located at the head office in Calgary, Alberta, UrbanStar Capital is a specialized firm that designs, implements and operates real estate asset management solutions for investors. The portfolio strategy of its real estate offerings is firmly focused on investing in selected regional cities in the thriving markets of Western Canada. UrbanStar Capital has the ability to offer an array of real estate services including real estate and mortgage brokerage services.