Westhaven REIT Portfolio Becomes RRSP-Eligible
For immediate release.
Wednesday, February 15th, 2023
Westhaven Real Estate Investment Trust (“Westhaven REIT”) is pleased to announce that all units within the Westhaven REIT portfolio are now RRSP-eligible. An RRSP, more formally known as a Registered Retirement Savings Plan, is an investing and retirement savings account registered with the Canada Revenue Agency (CRA) that allows individuals to save for retirement.
Westhaven REIT is on target to build an impressive portfolio with a total target value of over 21 million. To date we have acquired three multi-family properties in Toronto, Ontario, totalling approximately 41,710 square feet of gross leasable area with a view to continue to grow. The average unit value is $456,522.
Following the announcement, Saverio Nestico, MBA, CPA, President and CIO of Westhaven REIT, exclaimed, “Our portfolio becoming RRSP-eligible is the first of many milestones for Westhaven REIT. It will increase investment value for our investors and stakeholders and allow individuals to invest indirectly in quality real estate managed by a professional team.”
Westhaven REIT looks forward to continuing to build a well-diversified asset base that stimulates long-term growth.
For more information contact:
Maria Fiorini
Director, Marketing & Communications, Westhaven Group
Caution regarding forward-looking statements
This press release contains forward-looking statements and information within the meaning of applicable securities law, including but not limited to expectations related to Westhaven REIT's future business strategy, objectives and plans for expansion; future performance; and anticipated benefits of Westhaven REIT’s strategy. These forward-looking statements reflect management’s current expectations and are subject to risks and uncertainties that could cause the outcome to differ materially from current expectations. Such risks and uncertainties include, among others: general economic conditions; tenant financial difficulties, defaults and bankruptcies; increases in operating costs, property taxes and income taxes; Westhaven REIT’s ability to maintain occupancy and to lease or release space at current or anticipated rents; development, intensification and acquisition activities; risks related to property development, sales and leasing; environmental liability and compliance costs and uninsured losses; and risks and uncertainties related to the impact of the COVID-19 pandemic or other epidemics or outbreaks. Readers, therefore, should not place undue reliance on any such forward-looking statements. Westhaven Group undertakes no obligation to publicly update any forward-looking statements or to reflect new information or the occurrence of future events or circumstances except as required by applicable securities law. All forward-looking statements in this press release are made as of the date hereof and are qualified by these cautionary statements.
About Westhaven Group
WHERE INTEGRITY AND RELIABILITY MEET.
Westhaven Group oversees a collection of companies involved in managing and trading over 600,000 square feet of real estate across the City of Toronto and surrounding areas.
With multiple years of experience in the industry, our team works within residential and commercial spaces ensuring every aspect of real estate investment is covered.
Westhaven Group is a go-to source for all of your company needs.