Capital sought for Metrotown project that is 77% pre-sold
Vancouver-based Anthem Properties Group Ltd. is launching an initial public offering to raise capital for one of its projects.
“Policy changes, increased costs, shifting market cycles and more create an ongoing challenge for developers hunting for capital which requires innovative and creative thinking to get projects off the ground,” said Anthem CEO Eric Carlson in a statement. The minimum investment for the IPO is $10,000. Investors could receive a pre-tax compounded gross annualized return of about 18 per cent before fees over a term of five years, subject to two discretionary one-year extensions.
“There can be no assurance that the project will be developed or operated successfully, that the operations of the REDT will be profitable or that cash from operations will be available to make distributions to ,” the IPO’s prospectus states.
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