Our Track Record




The England Group has established a 24-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
2004 The Abbey at Vista Ridge
$13,744,630
1,727,729
-n/a-
3,075,768
$4,803,497
34.9%
-6.7%
MORE
1995 Arbor Valley
$4,875,255
3,304,553
3,437,389
1,675,639
$8,417,581
172.7%
23.4%
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
4,051,663
6,228,178
665,130
$10,944,971
213.8%
27.3%
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2001 Carrington Park
$15,483,419
2,979,079
-n/a-
6,251,306
$9,230,385
59.6%
5.2%
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1990 Castlewinds
$2,622,992
1,165,015
2,125,995
2,348,477
$6,283,329
239.5%
17.4%
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2000 Cypress Lake
$8,186,181
2,004,556
1,466,639
2,337,220
$5,808,415
71.0%
-1.0%
MORE
1995 Fieldcrest
$3,325,174
2,558,156
3,805,734
1,184,427
$7,548,317
227.0%
50.5%
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1991 Fossil Hill
$3,570,480
3,348,985
5,066,280
86,221
$8,501,486
238.1%
26.5%
MORE
1995 Huntington Glen
$4,312,017
1,638,020
3,010,408
1,763,070
$6,411,498
148.7%
24.4%
MORE
2000 Lakeside Gardens
$3,746,400
1,340,400
- n/a -
1,887,840
$7,504,560
200.3%
30.1%
MORE
1996 Lakeview Place
$3,604,370
3,067,478
7,129,440
655,788
$10,852,706
301.1%
41.8%
MORE
1996 Maple Leaf Quay
$13,965,050
11,444,456
21,015,050
3,225,238
$35,684,744
255.5%
30.3%
MORE
2002 Milano
$17,705,563
1,850,673
- n/a -
4,776,067
$6,626,740
37.4%
-8.9%
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
10,379,758
2,134,535
2,214,020
$14,728,313
154.6%
19.8%
MORE
1991 Sunset Oaks
$6,260,690
3,491,040
4,577,600
2,450,626
$10,519,266
168.0%
19.2%
MORE
1993 Tallows
$5,087,053
3,926,387
3,625,108
683,221
$8,234,716
161.9%
23.6%
MORE
1994 Tall Timbers
$5,268,028
2,598,858
4,092,597
1,826,771
$8,518,226
161.7%
23.7%
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
17.1%
Canadian Properties
30.3%

    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, 2010 using the estimated Current Value at January 1, 2010 and the exchange rate of 1.0466.
  • 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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