LAKEVIEW HOTEL REAL ESTATE INVESTMENT TRUST
Previous company name
GLOBAL FORTRESS INC
Name change date
Lakeview Hotel Real Estate Investment Trust is an unincorporated closed-end mutual fund trust which began trading on the TSX Venture Exchange in April of 2004 under the symbol LHR.UN. The primary focus of the company has been hotel acquisitions in the province of Alberta and northern British Columbia. Ten of the 12 Lakeview Hotel REIT owned hotels are located in Alberta and northern British Columbia. Its hotels are flagged as a Lakeview Inn & Suites hotel.
The company’s objective is to provide its Unitholders with a steady stream of cash distributions that can be increased over time through accretive purchases, and through adding value to hotels through its hands on management of properties. Since its inception, Lakeview Hotel REIT has been able to grow its portfolio from a single property in Fredericton, New Brunswick, to twelve hotels and has been able to increase its distributions to Unitholders from $0.20 per unit per annum to $0.44 per unit per annum.
The company is a subsidiary of Lakeview Management Inc., a fully diversified organization experienced in all major sectors of real estate development activity. Lakeview Hotel REIT manages its own hotels through a management partnership with its parent company. Lakeview Hotel REIT receives 25% of the management fees generated by the management partnership.
The principal purpose is to provide Unitholders with an opportunity to participate in a diversified portfolio of hotel and extended-stay properties, and commercial and office properties ancillary thereto, located throughout Canada and the United States.
Description and history
The principal purpose of Lakeview Hotel REIT is to provide unit holders with an opportunity to participate in a diversified portfolio of hotel and extended-stay properties, and commercial and office properties ancillary thereto, located throughout Canada and the United States. Through December 31, 2008, Lakeview Hotel REIT had acquired 16 hotels including the Fredericton property. Total number of rooms owned by the Lakeview Hotel REIT was 1,352.
The Company incorperated on 11 Feb. 2004
The Company listed on TSXV on 28 March 2008.
The Company changed it’s name from Global Fortress Inc.to Lakeview Hotel Real Estate Investment Trust on 22 April 2004.
Unincorporated closed-end mutual fund trust
ERNST & YOUNG LLP
US SIC Code
185, Carlton Street
City province or state postal code
R3C 3J1, WINNIPEG, MB
Phone: +1 204 947 1161
Fax: +1 204 957 1697
Country address: CANADA
Website url: www.lakeviewhotels.com