Cityzen Project - Now Colwood City Centre LP - League Assets

[SuzieSanders]

For a research report am looking for former investors in the defunct CityZen LP issued by League Assets a few years ago.



This project is now called "Colwood City Centre LP"



Details here: http://www.bcsc.bc.ca/eservices/Inc/ViewDoc.asp?DocNum=S7P3Q6D3X7DBX7EFP6BDV7W9F7V3



Now they are raising 11% notes into this highly mortgaged development project (see list of outstanding debt on page 35 and 36 of this link on the BC Security Commission website). Working capital deficiency of over 70,000,000. Unsecured debt to the IGW REIT of over 40,000,000.



Is this project viable ? Is a 11% investment (unsecured) really an investment ?



Anyone out there who has invested here or can provide additional commentary ?



Are there lawyers, blogs, investor support groups out there to help (old) folks like me for insight ?



Sue

 

[walsh59]

I believe you've answered your own question. There are other places to get 11% with much more security.