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Gold/Mining/Energy : International Properties Group (IPX-TSE) -- Ignore unavailable to you. Want to Upgrade?

To: mark calgary who wrote (78)	8/18/1999 12:25:00 PM
From: mark calgary	Read Replies (1) \| Respond to of 104

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