ONE Financial Corp. has successfully closed the ONE Financial Real Property Development & Income Balanced Offering (2008-1), the company said Wednesday. A second closing is scheduled for June 26.

“We are delighted with the support we have received for our balanced real estate offerings, and the continued interest in quality real estate assets as a viable investment alternative,” says Jeffrey O’Brien, president and CEO.

“With strong fundamentals supporting capital growth and income stability, many of our advisor clients are using the ONE Financial Real Property Development & Income Balanced Offering to reduce portfolio volatility in these turbulent times. This is a truly unique offering with many benefits previously unavailable in Canada,” he says.

The offering consists of one unit of the ONE Financial Real Property Development Trust (2008-1) and one unit of the ONE Financial Real Property Income Fund (2008-1), together a “Combined Unit”. The offering price is $25 per Combined Unit, consisting of $15 per Development Trust Unit and $10 per Income Fund Unit, and the minimum purchase quantity is 100 units.

Units of both the Development Trust and Income Fund are intended to qualify as mutual fund trusts under the Income Tax Act (Canada).

The offering is being made through a syndicate of investment dealers that is led by Research Capital Corp. and will be available for purchase until June 26.

IE