Press release out today
International Properties Group Ltd -
International Properties sets record pace in
condominium sales
International Properties Group Ltd
IPX
Shares issued 33,352,562
1999-08-17 close $1
Wednesday Aug 18 1999
Mr. Phillip Carroll reports
International Properties Group has achieved another sales goal -- $25-million in
sales of multifamily real estate investment properties that will propel the company
toward achieving its target of $115-million in revenues by its Oct. 31, year-end --
a 55-per-cent increase over fiscal 1998.
This extraordinary growth was accomplished through IPG's unique equity plus
program. The equity plus program allows investors to build real estate portfolios
that couple long-term equity gains with continuing income streams in low-risk,
geographically diversified investments. In the third quarter, IPG marketed more
than 350 up-scale condominiums. In fewer than 90 days, the company sold or
placed under contract $25-million worth of real estate.
Through its in-depth market research, IPG has identified Ontario and Alberta as
markets that will create wealth for real estate investors. For that reason, IPG's
most recent projects included several locations in these provinces -- Brittany
Park, in Ottawa; The Legacy, in London; The Regency, in Kitchener; and
Riverbend Manor, in Edmonton. These are excellent territories for wealth creation
in real estate.
"Market acceptance of our current real estate investment properties has been
nothing short of phenomenal," said Phillip J. Carroll, chief executive officer.
"Particularly outstanding was the enthusiasm shown by investors for our Brittany
Park project, which was completely sold out in just one month. That level of
response is virtually unheard of in this industry."
Douglas Frey, IPG's vice-president acquisitions, noted that the company has
established an outstanding track record, quickly completing sales of existing
inventory, while continually replenishing that inventory with new and attractive
investment acquisitions. "Our strategic acquisitions continually feed the sales
pipeline," said Mr. Frey.
IPG's condominium conversion sales and marketing division (CCD) has shown
itself to be a cash flow generator. Through the equity plus program, CCD sells
individually titled condominium units to private investors from IPG's database.
Over time, this investment product provides individuals with solid returns on equity
and the benefits of accrued gains over the lifetime of the investment. The equity
plus program defines the standards for real estate investment in North America.
From the acquisition of a property, the renovation, the sale and monthly reporting
to investors, and the continued management of the asset, IPG brings hassle-free
investments to the market.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
