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<br />SHELTE~ CAN~DIAN HOLDINGf. CORPORATION
<br />PRIOR PEPFORMANCE
<br />
<br />CANADIAN SYNDICATION
<br />
<br />The growth in the number of residential properties WhlCh were syndicated
<br />in Canada by Shelter dur1ng the the past 10 years, is reflected in the
<br />following table:
<br />
<br />1976
<br />1977
<br />1978
<br />197?
<br />1980
<br />1981
<br />1982
<br />1983
<br />1984
<br />1935
<br />
<br />CUMulatlve No.
<br />of ProJects
<br />- 7
<br />22
<br />32
<br />37
<br />49
<br />54
<br />58
<br />67
<br />69
<br />71
<br />
<br />UNITED STATES PROPERTIES
<br />
<br />PrOjects Syn]icated
<br />Cumulative
<br />Total Cost
<br />$ 37,C64,000
<br />135,807,000
<br />188,974, COO
<br />232,045,000
<br />338,202,000
<br />415,118,OOC
<br />470,000,000
<br />532,756,000
<br />550,518,000
<br />558,418,000
<br />
<br />Cumulative
<br />Equity Raised
<br />.$ 6,895,000
<br />29,690,000
<br />42,360,000
<br />52,310,000
<br />79,592,000
<br />106,193,000
<br />127,197,000
<br />148,3S0,000
<br />155,653,000
<br />158,900,000
<br />
<br />Commenclng in 1976, Shelt~: embarked upor a maJor acqulsItion program of
<br />existing rental apartment bUIldings in the UnIted States. Between 1976
<br />and 1979, twenty proJects total1ng 6,373 unlts of rental apartments wpre
<br />acqu1red in the states of Maryland, Mlnnesota and New Jersey. The total
<br />cost of acquisItIon exceeded $114,000,000 Ssee followlng table).
<br />
<br />In some Instances, Shelter J01nt-ventured the acquls1Llons such as the
<br />3,000 unIt resldentlal rental property portfollo owned by the Rouse
<br />Company of Columbia~ Maryland.
<br />
<br />Shelter is a~so the 50% JClnt-venture partner wlth The Pause Company 1n
<br />the ownershIp of the 300-room Columbla Inn 1n Columbia~ Maryland.
<br />
<br />In 1980, Shelter lmp1empnted a planned d~vestlture progra~ whereby the
<br />lnd1v1dual rental projects were either sold clltrlgh~ to thlrd partles of
<br />converted to condominlum tenure and sold as lndlvld~al apartMent unlts.
<br />This dlvest~ture prvgram was completed In 1985.
<br />
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