Overview
Morguard Sunstone
Sunstone US (No. 4)
 
Sunstone U.S. Opportunity (No. 3) Realty Trust
Pricing Information
 

To continue to support our investors and clients, and in order to comply with the second phase of the CRM Project, Sunstone commissioned an annual third party valuation report to satisfy the requirements of the new pricing regulations, under which non-trading units must have a third party fair market valuation performed by a pre-approved Certified Business Valuator or national CPA accounting firm.

Investors owning Sunstone Opportunity Funds may therefore begin seeing changes on their brokerage account statements as their brokerage begins implementing the new third party fair market values.

Previously, Sunstone’s management provided unit pricing certificates with values that used a book cost valuation methodology which differs from the third party fair market valuation methodology. A description of the different valuation methods are listed below.

Sunstone - Book Cost Values

Since 2003, Sunstone management has used an accounting method of valuation based on the investor’s initial per unit investment at the fund’s Initial Public Offering, less any per unit amounts of equity returned to date in the form of special distributions from property sales. 

The balances that you see on your quarterly investor letters reflect the Sunstone book cost values.

 

BDO Canada LLP (“BDO”) - Fair Market Values

Sunstone units are non-trading. Their fair market values are determined not by their last trading price, but by using a methodology that combines the estimated values of each of the remaining properties based on year-end audited financials, quarter-end unaudited financials and appraisals, estimated market conditions and what each unitholder could potentially receive per unit should the remaining properties sell at a certain point in time within an assumed range of market conditions.  It is these values that the brokerage firms are required to use.

These reports are prepared annually as at December 31st each year by a national CPA accounting firm, BDO Canada LLP. Reports may also be prepared at other times during the year when special distributions from property sales have been paid out to investors, creating demand for an update in pricing. In such circumstances, Sunstone may ask BDO Canada LLP to provide estimated valuation amounts.

 

CURRENT VALUATION SUMMARY
Fund
CUSIP
Sunstone Book Cost Value per Unit
Sunstone Book Cost Valuation Date
BDO Fair Market Value per Unit
BDO Valuation Date
Sunstone U.S. Opportunity (No. 3) Realty Trust
86803A105
$ 1.00 USD
May 8, 2017
$ 339 USD
December 31, 2015
 

 

For the most recent BDO valuation please click here.

Historical Valuation Summary

The below table summarizes the history of pricing changes for the Sunstone U.S. Opportunity (No. 3) Realty Trust.

 

HISTORICAL VALUATION SUMMARY FOR SUNSTONE U.S. OPPORTUNITY (NO. 3) REALTY TRUST
Event Special Distribution
Sunstone Book Cost Value per Unit
BDO Fair Market Value per Unit
Valuation Date
IPO N/A $ 1,250 USD N/A October 28, 2010
BDO Valuation Report N/A $ 1,250 USD $ 990 USD September 17, 2013
BDO Valuation Report N/A
$ 1,250 USD
$ 1,045 USD
December 31, 2013
Sale of the Preserve and the Zona Hotel and Suites $ 949.86 USD
$ 300.14 USD
N/A
October 1, 2014
BDO Valuation Report N/A $ 300.14 USD $ 420 USD October 31, 2014
BDO Valuation Report N/A $ 300.14 USD $ 479 USD December 31, 2014
Estimate BDO Valuation Report October 31st for January 2, 2015 N/A $ 300.14 USD $ 337 USD January 2, 2015
Estimate BDO Valuation Report December 31st for January 2, 2015 N/A $ 300.14 USD $ 349 USD January 2, 2015
Special Distribution $ 82.60 USD $ 217.54 USD $ 349 USD January 2, 2015
BDO Valuation Report (Redacted) N/A $ 217.54 USD $ 396 USD January 15, 2015
BDO Valuation Report N/A $ 217.54 USD $ 378 USD January 15, 2015
BDO Valuation Report N/A $ 217.54 USD $ 339 USD December 31, 2015
Sale of the Grand Parkway and Embassy Suites Tempe AHIP Unit Special Distribution 23 x AHIP Units @ ($10.80CAD or $7.90USD per unit)  for every 1x Sunstone U.S. Opportunity (No. 3) Realty Trust = $181.70 USD per Sunstone U.S. Opportunity (No. 3) Realty Trust. N/A N/A May 8, 2017
Sale of the Grand Parkway and Embassy Suites Tempe Special Cash Distribution $ 98.00 USD $1.00 N/A May 8, 2017
 

 

 

Frequently Asked Questions About Investing With Sunstone


©2011 Sunstone Realty Advisors | Disclaimer | Privacy Policy


Website designed in Vancouver by Graphically Speaking