A receipt has been issued by Canadian securities regulators for a prospectus for the initial public offering of One Financial Real Property Development & Income Balanced Offering (2008-1), One Financial said Thursday.

The offering consisting of one unit of 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. The minimum purchase quantity is 100 units, or $2,500.

Subsequent to the closing of the offering, the Development Trust and the Income Fund (the issuers) will purchase securities of the One Financial Real Property Development & Income Balanced LP (2008-1) and One Financial LP will engage in the business of acquiring, developing or improving, operating, and where appropriate, selling a diversified portfolio of high quality income producing commercial (primarily office and retail) and/or residential real estate properties in primarily urban Canadian markets.

One Financial Corp. is the promoter and One Financial LP has engaged One Financial Global Real Estate Advisors Inc. to be the manager with the responsibility of identifying and executing One Financial LP’s investment and development activities.

Units of both the Development Trust and Income Fund are intended to qualify as mutual fund trusts under the Income Tax Act (Canada) and as such will be qualified investments under the Income Tax Act (Canada) for registered accounts.

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 25.

The first closing will be May 7.

Investment in this product is also available on a private placement basis to accredited investors and others pursuant to an Offering Memorandum.

IE