Sweet Dreams Motel
Town of High Level, Alberta
High Level is a town in northern Alberta’s Peace River region, where a combination of forest products, oil and gas and agriculture drive the local economy. In September 2000 ACIC financed the purchase and renovation of a 22-unit motel in the amount of $290,000, in contrast to the appraised value of $575,000. The return on this loan justified a significantly longer financing term than ACIC usually provides, and when the loan was paid out in February 2016 it had generated a total of nearly $540,000 in interest revenue for the Company. ACIC no longer holds any loans in Alberta but the company will monitor for opportunities – in this typically economically dynamic province with a huge endowment of energy resources – as oil prices improve.