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January 2006
Completion of Head Office Expansion
CU completes a 4,400 square foot expansion to our Edmonton office.
March 2006
CUE Real Property (1) Ltd. Liquidated
As of March 31/06, CU’s first closed-end discretionary real estate pool raised in conjunction with Northern Trust Global Advisors was fully liquidated; achieving an IRR of 10.96%.
April 2006
Promotion
Michael Wolsey, Director of Finance promoted to Assistant Vice President, Finance.
June 2006
Promotion
Tilda Ferguson, Senior Commercial Property Manager promoted to Assistant Vice President, Commercial Property Management.
Promotion
Micheal Sparrow, Residential Property Manager promoted to Senior Property Manager, Residential.
CU Celebrates 35 Years of Business Excellence
Thank you to everyone who attended our 35th Anniversary gatherings in Edmonton (June 8/06) and Toronto (Sept. 14/06) – We’re glad you could join us and appreciate your continued confidence in our business!
July 2006
First European Client Acquired
CU introduced an number of new clients to our portfolio this year including our first European client via a non-discretionary $150M retail/industrial segregated fund.
A Farewell to Ross N. Steeves
Our Independent Director, Ross N. Steeves, passed away suddenly but peacefully on July 8/06 at his family cottage in Ontario.
It was a privilege having Ross as a colleague. He was a valued and wise presence on our Board and Audit Committee. During the time CU was associated with Ross, he conducted himself with the highest level of integrity and brought his intellect, professional insight, and generous spirit to our organization, much to our benefit.
CU Real Property (4) Ltd. Closes
Canadian Urban's first independently raised closed-end discretionary real estate pool closes with targeted absolute levered returns of 12-14%.
October 2006
CU Real Property (5) Ltd. – The Western Canadian Opportunity Fund
CU introduces The Western Canadian Opportunity Fund, our second independently raised closed-end discretionary real estate pool. The investment strategy for CU (5) will be to acquire value-added and opportunistic Retail, Industrial and Office and/or mixed use investment opportunities in three Western Canadian provinces, namely, Alberta, British Columbia and Saskatchewan. For more information regarding CU (5), please contact Onita Blankenfeldt at (780) 424-7722.
CU Real Property (6) LP
CU introduces CU Real Property (6) LP which will be CU’s fourth pool raised in conjunction with Northern Trust Global Advisors Inc. The investment strategy for CU (6) will be to acquire enhanced core type Retail, Industrial and Office properties across major Canadian centre's. For more information regarding CU (6), please contact Onita Blankenfeldt at (780) 424-7722 or Wasyl Saluchok at (416) 775-2215.
November 2006
CU Purchases Grande Prairie Residential Portfolio
CU Closes on our largest deal in corporate history, a residential portfolio consisting of 500+ units, on behalf of four Canadian pension funds.
December 2006
Investment Property Databank (IPD) Results
On a 5-year annualized basis, CU was ranked in the first quartile. Our total return on this basis was 14.8% versus the IPD benchmark of 13.1% as at December 31/06. This represents performance in the 13th percentile and a ranking of 4 out of 24 portfolios.
Our 1-year performance for December 2006 was a total return of 21.7% versus the IPD benchmark of 18.3%. This is 18th percentile performance and a ranking of 6 out of 29 portfolios.
January 2007
Completion of First Montreal Acquisition
On behalf of our first European client, CU completed our first Class A office building deal in Montreal.
June 2007
Promotion
Michael Wolsey, Assistant Vice President, Finance promoted to Vice President, Finance.
Promotion
Linda Tait, Assistant Vice President promoted to Vice President.
Promotion
Ian Woychuk, Assistant Vice President promoted to Vice President.
October 2007
Real Expo - Munich
CU will be attending the Real Expo in Munich from October 8-10/07.