Reviews

Review Details

• Review fromGene V

  Date: 04/04/2024

  1 star
  . I invested with Redev Properties over 18 years ago! The amount was $25K for each property. First with ******** Plaza, AB then ******** Square, ON in 2006, **********, AB in 2008, and finally ****** Gates, AB in 2010. As you can see these have been long held investments, too long held in my opinion and for my liking. Returns have been at best, poor and at worst, nonexistent. It was initially expressed to me the exit timeline for my investment would be 6-8 years, either by way of 2 options, 1 being an outright sale of the property, or the second option, being a refinancing of said property so that at least an initial portion of the investors principal amount would be returned to them. That has never happened and there are still no indications from ReDev as to whether they are actively pursuing an exit strategy. Once your money is in with them, they have no intention of ever releasing your capital back to you. This is contrary to the timeline and selling strategy expressed at the initial offering years ago and a clear ***************** and lack of transparency of their actions or lack thereof. Redev Properties have not followed, adhered or maintained to their own statements and claims of a timeline for selling or refinancing the properties. I invested 18 years ago and there is still no intention or effort on their part in selling any one of the four different properties I am invested in and to return any monies to the investors or at this point, making the ability for investors to simply divest themselves from this company impossible. It is not only unreasonable and illogical, but entirely outrageous to expect investors such as myself who have been waiting patiently for years, to be expected to wait forever or at least an indeterminate amount of time to end their participation in these investments. A resolution to the ongoing, never ending stalemate is not only necessary but an absolute requirement!

• Review fromAl E

  Date: 04/03/2024

  1 star
  Redev Properties Ltd have sold ******** clients a percentage ownership in a shopping mall in Guelph, Ontario called the ******** ******. Wow what a letdown .…Redev Properties Building Wealth Through Real Estate….sure didn’t happen here, a $25,000.00 unit investment turns into $6673.00 per unit a loss of 73.5% over 16 years.
  No appreciation of the property and 16 years paying down the mortgage didn’t get anywhere.. This is like a bankruptcy getting 26 cents on the dollar. Horrible.
  Yes there was $8,832 distributions , which after 2 ½ years was not paying what it was supposed to and went downhill from here, ending up in years of suspended distributions.