Thursday, February 1, 2007

IC Real Estate Group takes advantage of good market conditions in Canada for property selling

IC real estate fund Canada 04 liquidated
Reflux of investors capital about 265 %

Euro Canada IC Properties Inc. (EC), a Canadian subsidiary of IC Real Estate Group, uses the trend of prices on the Canadian real estate market to liquidate a further closed-end real estate fund.

Great reflux of investors capital

IC Fund Canada 04 had invested equity capital of 5.84 million CAD in three logistic and retail properties in the industrial area of Burlington near Toronto (Ontario Canada).

The properties bought for a purchase price of 7.6 million CAD had been almost completely rented over the term of the fund and were finally sold in two transactions for a total of 13 million CAD.

The property management and the selling transactions were handled by Euro Canada IC Properties Inc.. EC is a full-service provider for Canadian and also international investors and in addition, gives support in asset management and ongoing portfolio management.

Including the regular divided payouts, the reflux of capital for investors after fund liquidation is totalling 265.2 % of the invested capital before taxes. The profit yields an average interest rate of about 8.3 % before taxes.

“The rise in prices in the Canadian real estate market is currently a good environment for active selling, “ says Frank Schaich, member of the board of directors of IC Immobilien Holding AG. “however, we will also use our long-term local presence for selective purchases on a rational basis”

About IC Real Estate Group:

IC Real Estate Group (IC) has been active as service provider in the real estate sector, and as initiator of closed-end property funds since 1988. It has a staff of currently 200 employees, working out of 11 locations in Germany and Canada. The group manages an investment volume of about Euro 5 billion for about 32,000 private and institutional investors. IC is a full-service provider, using the various companies in the group to offer its private and institutional investors any kind of real estate service, all from a single source.

Contact at IC

Stephan Holeczek
IC Immobilien Holding AG
Edisonpark
Ohmstr. 4
85716 Unterschleißheim, Germany
Tel.: +49 89 552 27-362
Fax: +49 89 552 27-355