Our Track Record




The England Group has established a 22-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.

Offering Year Project Name Original Equity Cash Distributions Refinancing Distributions Tax Savings Total Investor Return % of Original Capital Returned Internal Rate of Return Details
1995Arbor Valley $4,875,2553,063,5873,437,3892,938,371$9,439,346 193.6%24.4%MORE
1992Bermuda Dunes $9,298,083 3,496,1714,790,590 5,604,385$25,755,915277.0%19.3%MORE
1992Briarcrest $5,270,022 3,616,1676,228,1782,265,345$12,109,690229.8%26.7%MORE
2001Carrington Park$15,483,419 2,614,946-n/a- 8,248,099 $10,863,04570.2%3.7%MORE
1990Castlewinds$2,622,992 1,165,015 2,125,995 2,348,477$6,283,329239.5%17.4%MORE
2000Cypress Lake$8,164,885 1,650,7481,469,160 3,669,530 $6,789,43883.2%5.2%MORE
1995Fieldcrest$3,325,173 2,873,1223,325,173 1,503,858 $7,702,154231.6%50.3%MORE
1991Fossil Hill$3,570,4803,252,115 4,702,5181,245,759$9,200,392257.7%25.9%MORE
1995Huntington Glen$4,312,017 1,538,6693,010,4082,614,060 $7,163,136166.1%25.8%MORE
2000Lakeside Gardens$3,746,400 1,340,400 - n/a - 1,887,840 $7,504,560200.3%30.1%MORE
1996Lakeview Place$3,604,370 2,742,845 7,264,0801,238,479 $11,245,404312.0%42.4%MORE
1996Maple Leaf Quay$13,965,050 8,069,478 21,015,050 6,661,666 $35,746,194 256.0%30.2%MORE
1991Southern Hills$4,010,352 1,803,8292,711,1003,175,109$10,727,937 267.5%22.4%MORE
1997Southern Ontario$9,528,00010,179,765 2,134,535 4,494,456 $16,808,756 176.4%19.7%MORE
1991Sunset Oaks $6,260,690 3,292,3214,577,600 4,621,078$12,490,999199.5%19.8%MORE
1993Tallows $5,087,053 3,705,591 3,625,108 2,097,530$9,428,229180.9%25.3%MORE
1994Tall Timbers $5,268,028 2,444,299 4,092,597 2,869,024$9,405,920178.5%25.0%MORE
1994The Vanderbilt$5,790,985 3,011,8412,540,735 3,952,807$11,017,435190.3%18.9%MORE

Average Internal Rate of Return for:
U.S. Properties23.7%
Canadian Properties30.8%

Recent AcquisitionsOriginal EquitySyndication Price
2004The Abbey at Vista RidgeUS$11,434,800US$28,235,000
2002MilanoUS$11,223,100US$30,610,559


    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, 2008 using the estimated Current Value at January 1, 2008 and the exchange rate of 0.9913.
  • 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.




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