Track Record

The England Group has established a 25-year track record of successful 'armchair investing.'

We have proven our capacity for outstanding performance in every economic climate. But just as important, we have earned a well deserved reputation for ethics and integrity-one that has allowed us to forge a unique and long term bond with our investors.

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Offering Year Project Name Original Equity Cash Distributions Refinancing Distributions Tax Savings Total Investor Return % of Original Capital Returned Internal Rate
of Return
Details
2004 Abbey at Vista Ridge
$13,744,630
$2,606,466
$0
$3,324,669
$5,931,135
43.2%
1.2%
MORE
1995 Arbor Valley
$4,875,255
$1,557,745
$5,337,468
$1,786,462
$8,681,675
178.1%
20.7%
MORE
1992 Bermuda Dunes
$9,298,083
$3,496,171
$4,790,590
$5,604,385
$25,755,915
277.0%
19.3%
MORE
1992 Briarcrest
$5,119,142
$4,086,706
$6,397,473
$692,688
$11,176,868
218.3%
26.2%
MORE
2001 Carrington Park
$15,483,419
$3,021,555
$0
$6,879,600
$9,901,155
63.9%
6.5%
MORE
1990 Castlewinds
$2,622,992
$1,165,015
$2,125,995
$2,348,477
$6,283,329
239.5%
17.4%
MORE
2000 Cypress Lake
$8,186,181
$3,709,638
$0
$2,965,367
$6,675,005
81.5%
‐0.8%
MORE
1995 Fieldcrest
$3,325,174
$2,709,567
$3,829,083
$1,124,787
$7,663,437
230.5%
50.7%
MORE
1991 Fossil Hill
$3,570,480
$3,503,065
$5,154,370
($351,862)
$8,305,573
232.6%
26.4%
MORE
1995 Huntington Glen
$4,312,017
$1,351,498
$3,387,737
$1,809,349
$6,548,583
151.9%
24.9%
MORE
2000 Lakeside Gardens
$3,746,400
$1,340,400
$0
$1,887,840
$7,504,560
200.3%
30.1%
MORE
1996 Lakeview Place
$3,604,370
$3,257,548
$7,129,370
$814,352
$11,201,270
310.8%
44.3%
MORE
1996 Maple Leaf Quay
$13,965,050
$21,303,411
$14,656,086
$2,400,290
$108,378,743
776%
35.1%
MORE
2002 Milano
$17,705,563
$2,230,156
$0
$5,553,824
$7,783,980
44.0%
‐3.3%
MORE
1991 Southern Hills
$4,010,352
$1,803,829
$2,711,100
$3,175,109
$10,727,937
267.5%
22.4%
MORE
1997 Southern Ontario
$9,528,000
$2,818,479
$2,134,535
$2,815,724
$19,149,728
201.0%
10.5%
MORE
1991 Sunset Oaks
$6,260,690
$3,406,731
$5,058,534
$2,548,161
$11,013,426
175.9%
18.2%
MORE
1993 Tallows
$5,087,053
$3,869,855
$3,883,519
$761,685
$8,515,058
167.4%
22.2%
MORE
1994 Tall Timbers
$5,268,028
$3,451,643
$3,381,076
$1,802,137
$8,634,856
163.9%
23.3%
MORE
1994 The Vanderbilt
$5,790,985
$3,011,841
$2,540,735
$3,952,807
$11,017,435
190.3%
18.9%
MORE
 
Average Internal Rate of Return for:
U.S. Properties
18.6%
Canadian Properties
39.2%
 
Important Notes and Assumptions
  • For US projects, Original Equity, Cash Flow, and Refinancing Distributions are translated into Canadian dollars using exchange rates in effect at transaction date.
  • Tax Savings are calculated using the actual Combined Top Marginal Tax Rates (on a leveraged basis).
  • Internal Rate of Return is the annual yield on the investment calculated on an unleveraged basis using various assumptions regarding property values, exchange rates, the calculation of incentive management interest, timing of cash flows, US Partnership taxes, US Partnership withholding taxes, and Canadian income taxes. Disposition of current properties are assumed to take place on January 1, 2012 using the estimated Current Value at January 1, 2012 and the exchange rate of 1.0205.
  • The above IRR is grossed-up to reflect an IRR that is the pre-tax rate of return an investor in the 43.7% tax bracket would have had to earn from an interest-bearing security to achieve the same after-tax return.
  • This analysis has been prepared using various assumptions regarding property values, exchange rates, the incentive management interest calculation, equity loan interest rates, timing of cash flows, US withholding taxes, and tax rates provided by The England Group. Some assumptions inevitably will not materialize and/or will not apply to all investors, therefore the actual results achieved will vary and the variations may be material.