INVESTMENT PROPOSAL

Atwind Developments would like to offer the following investment proposal on an 18 unit condo conversion project. This condo conversion is estimated to be a two year project.

Equity Investor (Partner)

Investor

Weyburn

With a current City population of nearly 10,000. Weyburn sits astride three highways. Within the City's immediate shopping and service distance of 80km (50miles) live more than 50,000 people in a number of communities ranging from small villages to substantial towns. When shoppers look for a change of venue, they are only a 70-minute drive from Regina, 5 1/2 hours from Winnipeg, Manitoba, 3 hours from Minot, North Dakota, and 10 hours from Minneapolis, Minnesota.

Weyburn is situated near the headwaters of the Souris River, flowing southeast through North Dakota to join the Assiniboine River in Manitoba. Extensive flood control programs have created reservoirs, parks and waterfowl centres along the Souris River.

Diversification has become the strength of Weyburn's economic base and has created a community with above average personal wealth and high epxectations for lifestyle and personal development. Sectors include agricultural shipping and servicing, oilfield exploration, developmental services, manufacturing and processing, business and industrial services.

The Norwood, 502 – 5th N.E Weyburn, Saskatchewan

This 1968, 18 suite 2-1/2 storey apartment is in an excellent location. The Norwood is built of wood frame faced with brick and cedar drop siding. It has 6 two bedroom suites with a den and 8 without a den. This apartment also has 3 one bedroom suites and 1 bachelor suit. 12 of the suites have a balcony. Each suite has a fridge and a stove. The property has a common coin operated laundry area. The building has had some upgrades including some windows replaced, and some units have been renovated. Each suite has carpets in bedrooms and hallways and linoleum in the bathrooms and kitchens. There is a gravel covered parking area.

Condition Report

This 1968 2-1/2 storey apartment block was well built and fairly well maintained over the years. The Boiler is original and appears to be in good working order. Of the approximately 50 windows in total, only one half have been upgraded to PVC. The cedar drop siding is splitting, curling and loose, and could use some kind of updating. The roofing for its age of about thirteen years is in good condition. The asphalt parking lot is fair to good condition. The common areas could use some updating to the paint and carpets, as well as some new doors. The landscaping has been well looked after. The Condition Report is available upon request.

 

Profit Report

Profit Disbursement