Partnership Manhattan

• Homburg Manhattan is a fully renovated office building, located in Calgary, Alberta, Canada.
• 5-year to 10-year lease agreements.
• Homburg Canada has issued a 7-year lease guarantee on the initial occupancy.
• Investment horizon of seven years, participation starting at 15,000 CAD (approx. 9,500 Euros).
• Projected net yield: 13.7%*
• The Homburg group’s ample experience and proven expertise provide assurance of excellent management.
• The General Partner does not share in the profits until the investors have received a cumulative preferred yield of 11% annually. This assures investors of maximum profits.

* This yield figure is based on projections. The value of your investment may fluctuate. Results attained in the past are no guarantee of future performance.

In January of 2002, Centron Construction Ltd. purchased the building and commenced renovating it into an office building. The project has a total leasable area of over 2800 m2 and is fully occupied. The initial lease agreements terminate in 2008. Homburg Canada has issued a 7-year lease guarantee on the initial occupancy.

The annual cash yield on equity capital comes to exactly 8.7% according to projections. Thus far, Manhattan has produced a cumulative disbursable profit of 8.8%, which was also the projection.

One of the tenants is Morrison Hershfield Limited, a multi-faceted engineering and management consulting firm providing services throughout North America to clients in various sectors, such as transportation, construction, government, and telecom. The company was founded in 1946 and is owned by the staff.

The office building, built in New York style, has a characteristic ambiance, due in part to its high ceilings (4.6m high) and large windows (3m high).
The Homburg Manhattan office building is located in a suburb of Calgary, is easily accessible, and is situated in green surroundings in a prestigious neighbourhood. Ample parking is available for staff and clientele.

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	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Average
Profits payable per participation in CAD	1.331	1.324	1.317	1.310	1.303	1.295	1.287	1.310
Net cash output	6,69%	7,92%	7,70%	7,48%	7,26%	6,82%	6,37%	7,18%
Net sale output	6,61%	6,61%	6,61%	6,61%	6,61%	6,61%	6,61%	6,61%
Total net yield	13,30%	14,53%	14,31%	14,09%	13,87%	13,43%	12,98%	13,79%

Please see under Yields for the average annual yield on equity capital.

The value of your investment may fluctuate. Results attained in the past are no guarantee of future performance.

 Investment
The total investment comes to 4.864.350 CAD, including costs. The partnership’s equity capital is CAD 1.665.000,- maximum, divided among 111 participations at a value of 15,000 CAD each (approx. 9,500 Euros).