2007 annual report aveiro investment corp. - First West Properties

THE CONTEXT: WESTERN CANADA TODAY
UNPRECEDENTED ECONOMIC GROWTH
Western Canada is rich in resources: uranium, diamonds, potash,
copper and zinc. It’s also rich in agriculture and it’s rich in oil.
Virtually all of these commodities are currently fetching record prices
and helping to fuel unprecedented economic growth:
• “ Canada has two economies: in the East,
a somewhat fragile economy that’s more
susceptible to global competitive pressures,
and in the West, a resource-based,
boom times economy.”
(David Herle, Globe and Mail, September 17, 2007)
• “ Alberta and Saskatchewan’s provincial
economies are booming because of
strong prices for oil, minerals and
agricultural commodities.”
(The Canadian Press, September 20, 2007)
• “ The seven fastest-growing metropolitan
economies this year are all located in
the West.”
(Conference Board of Canada, September 2007)
6 | Aveiro Investment Corp. | 2007 Annual Report
ALBERTA’S OIL SANDS
The largest oil sands
deposits outside of Saudi
Arabia are located in the
Province of Alberta.
Time Magazine has
described these deposits
as “Canada’s greatest
buried energy treasure”
and said they “could
satisfy the world’s
demand for petroleum
for the next century.”
• “ Statistics Canada attributed the [Canadian] construction boom to
the dynamic economy in Western Canada….” (CBC News, July 2006)
• “ Recent real economic growth in the four western provinces
exceeds the Canadian average” (Western Economic Diversifi cation
Canada, 2006), which is already exceptionally high: “Canada’s real
GDP growth rates in the last 10 years were the highest among the
G7 countries.” (Japan Credit Rating Agency Ltd, August 13, 2007)
CORPORATE PROFILE
Aveiro Investment Corp.
Based in Alberta, Aveiro Investment Corp. is a
real estate investment company established to
take advantage of real estate opportunities in the
secondary markets of Western Canada, which
means the markets outside the major cities of
Vancouver, Calgary and Edmonton.
Our primary focus is to acquire high-quality
commercial, industrial, retail, offi ce and mixeduse
properties with high-quality tenants already
in place, in centres where we anticipate strong
economic growth and where the opportunity exists
to lease or re-lease at current market rents. In
those same centres, we are also working to fi nd
high-quality non-income producing assets (bare
land) where we believe we will be able to increase
the value of the land.
In 2007, we began to build our portfolio of real
estate assets in three small but signifi cant centres:
Airdrie and Lethbridge, Alberta, and Saskatoon,
Saskatchewan. Future acquisitions will focus on
these and other secondary markets in Alberta,
British Columbia, Saskatchewan and Manitoba.