Business
Front Street Capital Announces Launch Of Front Street Real Estate 2008 Limited Partnership
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. WIRE SERVICES/ An exceptional opportunity...
About this update from Hayasa Metals Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. WIRE SERVICES/\n\n\nAn exceptional opportunity to gain exposure to the undervalued North\n\n\nAmerican real estate sector\n\n\nTORONTO, March 4 /CNW/ - Front Street Capital is pleased to announce the\nlaunch of the Front Street Real Estate 2008 L.P. The Partnership has been\nformed to provide exposure primarily to the North American real estate market.\n\n\nReal estate related securities are attractive because of opportunities\ncreated from the volatility in global credit markets. Certain assets are\ncurrently undervalued and negatively affected by perceptions of risk. These\nsecurities and properties have strong potential for improved yield, not fully\nreflected in current valuations.\n\n\n"The current disruption in the financial markets has caused valuations of\ncertain equity and debt securities, of both public and private real estate\ninvestments to fall to levels not seen since early this decade. This situation\npresents an exceptional opportunity for Canadian investors," said Eric Dzuba,\nPortfolio Manager, Front Street Capital.\n\n\nThe Front Street Real Estate 2008 Limited Partnership will give investors\nexposure to three compelling areas of the real estate market.\n\n\n1. Public Real Estate Securities on a Long/Short Basis\n\n\nReal estate securities are at multi-year low valuations and look very\nattractive. REIT yields are compelling in this lower interest rate\nenvironment.\n\n\n2. Private Real Estate: US Rental Apartment Communities\n\n\nPoor lending standards in the US allowed people to buy houses with no\nmoney down and created the sub-prime mortgage market. Lending standards are\nnow changing and the sub-prime space is being eliminated as people are losing\ntheir homes due to foreclosures. The end result? People are leaving their\nhomes and returning to rental accommodations.\n\n\n3. High Yield US Real Estate Securities\n\n\nForced liquidations and a need for liquidity are causing sell-offs to\noccur on good-quality credit. This presents an opportunity to capitalize on\ndeep discount valuations.\n\n\nObjective\n\n\nTo achieve capital appreciation and income over a 5-year term through\ninvestment, directly or indirectly, in a diversified portfolio of publicly\ntraded and privately held real estate securities with exposure primarily in\nCana...