For a dramatic summary of their fortunes see www.mentorproperties.com/portfolio
Other Mentor sites are:
Toronto: www.mentorproperties.com and www.copperpointeaz.com
Arizona: 727 units valued at $175m: www.theplazaresidencesaz.com and www.thearcadiaresidences.com

Canadian companies plan 40-story condos downtown

Excerpts: In a major metropolitan region where about 30 percent of condominium buildings never get off the drawing boards, two Canadian companies are proposing the granddaddy of all condo projects just a few blocks north of downtown Phoenix … The proposal is the work of Pointe of View Developments of Calgary, Alberta, and Mentor Properties of Toronto, Ontario … Mentor Properties is owned by brothers Cal and Frank DeSouza, who have been converting Valley apartments into condos since 1991 … “You can't ignore guys who are actually building things around the West,” said Phoenix Community Alliance President Donald Keuth. “These guys have built stuff.” For full text click here.

Excerpts: A Toronto, Ontario, development firm acquired the 195-unit Acapella Apartments in Phoenix for $26.4 million with plans to convert the property into condos. Mentor Properties acquired the Class A property, which was built in 1999 … The property, to be renamed The Brick Lofts, consists of six, three-story buildings with four separate floor plans, ranging from 760- to 825-square-foot, one bedroom models to 1,178- to 1,217-square-foot, two bedroom models.

Individual units are expected to sell in the mid-$100s to mid-$200s. Amenity packages include gated entries, attached garages for some units, a resort-style pool and spa, fully renovated fitness center, conference room and clubhouse. The buyer is expected to spend roughly $5 million to renovate the property and approximately $14,600 per unit in interior upgrades …

The Brick Lofts is Mentor Properties fifth venture in the Phoenix market, with the most recent being The Plaza Residences in Kierland and The Arcadia Residences in central Phoenix, both financed by Fremont … For full text click here.

Excerpt: Mentor Properties of Scottsdale, Ariz., bought Camelback Terraces, a gated, 184-unit apartment community in Phoenix, and plans to convert the apartment units into condominiums … The property, built in 1980, has a heated swimming pool with spa, a state-of-the-art fitness center, and a clubhouse with fireplace, full kitchen, and television. For full text click here.

Excerpts: Trimax Corporation has signed an agreement with Mentor Properties of Toronto, Canada, to install its Broadband over Powerline (BPL) devices, and bundled services (ISP, VoIP) in three buildings within its portfolio of properties totaling approximately 213 units. Mentor is installing PLC's new 205 Mbps Broadband over Powerline devices that will provide its tenants with symmetrical upload and download speeds of 20-30 Mbps -- considerably more than cable or DSL, and enough to run concurrent high-bandwidth applications such as VoIP, video-on-demand and IPTV on the same platform. For full text click here.

Developer to convert apartments into condos
Mentor Properties Inc. has acquired the San Mateo Apartments, 7009 E. Acoma Drive, and plans to convert them into condominiums. The 348-unit complex, built in 1995, will be renovated, with plans to start sales in January for what will be called the Plaza Residences. Capstone Advisors, a San Diego-based real estate investment company, provided a $16.6 million loan to Mentor for the property and conversion. For full text click here.

Excerpts: A company formed by investors Cal DeSouza and Frank DeSouza of Mentor Properties Inc. of Toronto, Canada paid $61 million ($175,287 per unit) to buy the 348-unit San Mateo apartments located at 7009 E. Acoma Drive in Scottsdale … The new owner is spending $7.5 million to renovate the property. More than $15,000 per unit is targeted for interior upgrades to each residence. The gated project, built in 1995, has 178 detached garages, two pools and spas, a fitness center, business center and clubhouse. The one-, two- and three-bedroom units will be priced from the $200,000's to about $350,000 …

The multi-family investment is the second for Mentor Properties in the Phoenix area. In November 2004, BREW reported another company formed by the DeSouzas paying $6.35 million ($66,146 per unit) to purchase the 96-unit Scottsdale Villas apartments at 8552 E. Belleview Street in Scottsdale. That property has been converted to condos and all of the units have been sold. Mentor Properties has opened an office in Scottsdale and the Canadian-based investors are looking for additional multi-family conversion opportunities in the Valley. Cal DeSouza says the company has three apartment properties under contract to acquire that are located in Scottsdale, Glendale and Phoenix. For full text click here.

Excerpts: Since 1985, Mentor Properties has averaged an annual return in excess of 12% for their investors. They are a Real Estate Development Company which was founded by a group of successful investors, for the purpose of helping people achieve their financial goals through real estate. Over the last eighteen years, Mentor has bought and sold more than one $150 million dollars worth of residential income property. One of their principal objectives is to provide investors, with affordable, worry-free investments throughout North America. Should you wish to learn more about Mentor Properties, their program, and current opportunities, you are invited to visit them at www.mentorproperties.com They will be offering free investment seminars in the near future. Enclosed below is an independently written article, which explains the uniqueness of Mentor Properties, and their program.For full text click here.