Stinson Properties

January 26, 2005 15:44 ET

HARRY STINSON LAUNCHES STINSON PROPERTY FUND (SPF)

Attention: Business/Financial Editor TORONTO--(CCNMatthews - Jan. 26, 2005) - Harry Stinson today announced the formation of the Stinson Property Fund.

SPF is a specialized real estate lender specifically designed to allow individual investors to become directly involved in the financing industry at the same level as the banks.
"You can park your money in the bank at 1%, and they'll lend it to Nortel….or you can invest it directly in SPF at 8%, and you know exactly where it's being used, what for, and by whom. It's not for everyone", says founder Harry Stinson, "But there is something comforting about having a sense of control over your investments, and in being involved in old-fashioned, tangible businesses that you can exactly see and touch, with hands-on owner-operators who are passionate about what they do".

Individual investors will receive a minimum eight percent interest on their money.
SPF then loans funds to selected projects at 12%. At the end of each year - similar to an income trust - the surplus interest is split between the investor and Stinson (whose company will manage the Fund).

A very unusual - and very appealing - feature is that Stinson does NOT charge any management fees to the investors. Each borrower/loan pays a 1% administrative fee, but the investors receive their 8% return in full.

Stinson's fund will specialize in financing projects that offer prime locations, distinctive architecture, and/or environmental innovation. Stinson does not 'do normal'.

BDO Dunwoody LLP are the auditors for SPF, and WeirFoulds LLP are the solicitors.
/For further information: contact Laura Ammendolia; phone: 416-369-9993; email: laura@stinsonproperties.com/ IN: FINANCE

Contact Information

  • Laura Ammendolia
    Primary Phone: 416-369-9993