The Heights at
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An uplifted approach to Kelowna lifestyle, The Heights at Upper Mission features spacious residences, sweeping lake and valley views, single-story floorplans, energy-efficient appliances, and an exclusive location nestled at the highest residential point in Kelowna.
The developer has acquired the property for $2.2 million and it will be developed maximizing land use as the only multi-unit residential property in the area. The project will be 78+ single-family townhomes built in 9-12 phases.
Investors can receive an annualized targeted 15%* preferred return on equity upon completion and sale of the real estate.
Targeted Preferred Return
Acres of Land
A two-stage equity development partnership opportunity
Purchased Land ($2.2M): 4.5 acres of prime lake and city view land zoned for 78 units. Development permits within 6 months, maximize land use, increase density. Land purchase price = $37 psf buildable.
Completion within 24 months after completion of Tranche one. A minimum of 78 townhomes² at an affordable price within a luxury market
Limited Partners’ Return on Investment (ROI)
Investors receive a targeted 15% annual preferred return to be paid upon
completion of the construction and sale of the real estate. Project is expected
to be completed within 30 months.
The General Partner’s profits will not be realized until Limited Partnership Investors have received back their investment and preferred return.
For more information, speak to a representative of Evest Funds’ private equity broker, Waverley Corporate Financial Services.
1: Please review the Term Sheet for full details on this offering.
2: Current base assumption is to build 78 townhomes.
DISCLAIMER: This document has been prepared by Upper Mission Developments Inc. (“the Company”), the general partner for the project, and is being provided solely as a guide to give background information to enable recipients to assess whether they wish to enter into discussions with the Company regarding this potential transaction. *All statements or views expressed and all statements relating to expectations regarding future events or the possible future performance of the proposed transaction represent the Company’s assessment and interpretation of information available as of the date of this document. Prospective Investors must determine for themselves what reliance (if any) they should place on such views, and the Company accepts no responsibility in respect thereof. Prospective investors are strongly advised to conduct their due diligence, including, without limitation, the legal and tax consequences of them investing in the proposed transaction. *No representation or warranty, expressed or implied, is or will be given by the Company or any of its advisors. Should any views be given as to expectations, these are illustrative only; none of the opinions should be taken as forecasts or promises on the part of the Company, nor should they be taken as implying any indication, assurance or guarantee that those assumptions are correct or exhaustive. *All liability for reliance on the contents hereof is expressly excluded. *This document does not constitute investment advice. This document does not amount to an invitation or inducement to buy or sell an investment, nor does it solicit any such offer or invitation in any jurisdiction as it is only provided for information purposes. *Participation may expose potential investors to a significant risk of losing their investment.
FORWARD-LOOKING STATEMENT: *This disclosure contains forward-looking information that is not complete. Please refer to Issuer’s current offering memorandum for full details. The forward-looking information is management’s projections based on project planning, and analysis using industry-accepted assumptions and analysis techniques for the real estate market for Kelowna and the project area in particular. While management believes its assumptions and analysis are valid and reasonable, actual results may vary from the forward-looking information and there are a number of inherent risk factors, such as variability in real estate pricing, prices for construction materials, and government policy that could have a negative impact on the Issuers and could cause actual results to differ materially from the forward-looking information. The Issuers undertake no responsibility to update their forward-looking information. The reader is directed to the Issuer’s current offering memorandum for full consideration of the risks, assumptions, and forward-looking information.