Track Record
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Track Record
Over the past thirty years, Walton has launched over 300 land-based real estate and development projects.
As of September 30, 2010, Walton has completed the syndication of 292 projects, with another 14 in the process
of syndication. Of these 306 projects, 40 projects have had full or partial exits to September 30, 2010.
Projects Syndicated and Exited to Date
Year1
Projects Syndicated
Exited3
Active4
% Exited
Pre 1995
14
12
2
86%
1995-1999
10
8
2
80%
2000-2004
65
17
48
26%
2005-2009
191
3
188
2%
26
—
26
0%
306
40
266
13%
2010+
2
Total
Up to December 31, 2009, 38 Walton projects have had full or partial exits, resulting in the distribution of $581.6
million (CAD) to investors and clients. Investment returns for these projects are included in the schedule of
investment returns audited by PricewaterhouseCoopers (PwC) LLP; click here for the audited schedule of
investment returns dated April 20, 2010. The schedule of investment returns is updated and audited on an annual
basis, with the addition of new exits which have occurred during the course of that year.
The following table presents the range of investment returns and durations for those projects which have exited
up to December 31, 2009.
Investment Returns on Exited Projects
To Dec 31, 2009 (audited)
Weighted average return (compound)
14.82%
Weighted average return (simple annualized)
28.24%
Range of returns (compound)
4.7% to 28.1%
Range of returns (simple annualized)
5.2% to 50.4%
Average duration of fully exited projects
6.8 years
Range of duration of exited projects
2.36 to 19.35 years
Walton initially focused on acquiring and syndicating land in Calgary, with the company's first land acquisition
occurring in 1986. In 2000, Walton began expanding into other carefully-researched areas across North America,
into Edmonton in 2000, then Arizona (2004), Ontario (2005), Texas (2006), Georgia (2008) and most recently
into the Washington DC region (2010).
The following table presents a listing of all projects that have exited up to December 31, 2009.
Fully Exited Projects
Project Name
Project Type
Location
Syndication Date1
Exit Date
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14 Acre
Pre-development
Calgary, AB
Sep 1987
Sep 2006
Aberdeen Heights Phase 1
Pre-development
Calgary, AB
Feb 1998
Nov 2007
Bridlewood
Pre-development
Calgary, AB
Mar 1990
Sep 2003
Church Hill
Pre-development
Calgary, AB
Sep 2000
Jan 2007
Fairweather Heights Phase 1
Pre-development
Calgary, AB
Apr 2004
Mar 2008
Four Seasons
Pre-development
Calgary, AB
Jul 1998
Jan 2007
Heritage Valley Phase 1
Pre-development
Edmonton, AB
Nov 2003
May 2007
Heritage Valley Phase 2
Pre-development
Edmonton, AB
Nov 2003
May 2007
North Point Commercial Phase 1
Pre-development
Calgary, AB
Aug 2002
Nov 2006
North Point Commercial Phase 2
Pre-development
Calgary, AB
Feb 2003
Nov 2006
North Point Commercial Phase 3
Pre-development
Calgary, AB
Apr 2003
Nov 2006
North Point Commercial Phase 4
Pre-development
Calgary, AB
Jan 2003
Nov 2006
North Point Estate Phase 11
Pre-development
Calgary, AB
Dec 1999
Mar 2008
North Point Estate Phase 13
Pre-development
Calgary, AB
May 2002
Jun 2007
North Point Estate Phase 3
Pre-development
Calgary, AB
Aug 1995
Jun 2007
North Point Estate Phase 4
Pre-development
Calgary, AB
Dec 1996
Jun 2007
North Point Estate Phase 6
Pre-development
Calgary, AB
Jun 1996
Mar 2008
North Point Estate Phase 7
Pre-development
Calgary, AB
Jan 1997
Mar 2008
North Point Estate Phase 8
Pre-development
Calgary, AB
Oct 1996
Mar 2008
North Point Estate Phase 9
Pre-development
Calgary, AB
Feb 1998
Jun 2007
Northeast Edmonton Phase 8
Pre-development
Edmonton, AB
Jan 2005
Dec 2009
Northwest Industrial
Pre-development
Edmonton, AB
Oct 2003
Oct 2006
Panorama (Evanston) Phase 1
Pre-development
Calgary, AB
Sep 1993
Dec 1998
Panorama (Evanston) Phase 2
Pre-development
Calgary, AB
Jul 1993
Dec 1998
Panorama (Evanston) Phase 3
Pre-development
Calgary, AB
Aug 1995
Dec 1998
Pilot Sound Phase 1
Pre-development
Edmonton, AB
Jun 2002
Jun 2007
Pilot Sound Phase 2
Pre-development
Edmonton, AB
Jul 2003
Jun 2007
River View Phase 1
Pre-development
Edmonton, AB
Aug 2004
Dec 2006
South Ellerslie
Pre-development
Edmonton, AB
Mar 2003
Dec 2007
South Ellerslie Phase 2
Pre-development
Edmonton, AB
Apr 2003
Jul 2006
South Ellerslie Phase 5
Pre-development
Edmonton, AB
Oct 2003
Oct 2007
Spruce Meadow Estates
Pre-development
Calgary, AB
Jul 2000
Apr 2007
Parally Exited Projects
Project Type
Location
Syndication Date1
Exit Date
Pre-development
Calgary, AB
Aug 2005
Oct 2009
Shepard LP (Phase A)
Pre-dev & Development
Calgary, AB
May 1991
2004-20095
Shepard LP (Phase B)
Pre-dev & Development
Calgary, AB
Feb 1992
2004-20095
Shepard LP (Phase C)
Pre-dev & Development
Calgary, AB
Mar 1992
2004-20095
Project Name
Rockyview Phase 1
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Shepard LP (Phase D)
Southfork LP
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Pre-dev & Development
Calgary, AB
Apr 1992
2004-20095
Development
Leduc, AB
Jun 2005
2007-20096
1 Weighted average syndication date.
2 Includes 14 projects in the process of syndication.
3 Projects fully and partially exited up to September 30, 2010, including 38 projects exited prior to December 31, 2009, plus two additional exits
and three additional distributions in 2010 which have not yet been audited.
4 Includes 252 fully-subscribed and 14 partially-subscribed projects.
5 Range of exit dates includes September 2004, April 2007, September 2007, April 2008 and March 2009.
6 Range of exit dates includes November 2007, January 2008 and April 2009.
Past performance is not necessarily indicative of future results. The information on this website, including the audited schedule of investment
returns, is for general information only and does not constitute an offer to sell, or a solicitation of an offer to buy any security, nor does it
discuss the risks associated with real estate and other investments. Any offerings of securities may only be conducted using offering
documentation prepared in accordance with applicable law, which investors should read before making any decision to invest.
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