Fengate Capital Announces $220 million Property Acquisition
TORONTO, Jan. 20, 2014 /CNW/ - Fengate Capital Management Ltd. ("Fengate Capital"), one of Canada's leading alternative asset management firms, announces the $220 million acquisition of six Class A office properties and an 11 acre parcel of land. This portfolio was acquired through LPF Realty Inc., the real estate arm of the Labourers' International Union of North America's Pension Plan, and one of Fengate Capital's real estate managed funds.
"This was a unique opportunity for LPF Realty Inc. to acquire a portfolio of well located, Class A office buildings," says Lou Serafini Jr., President and CEO of Fengate Capital. "We believe this transaction will add value to the existing portfolio for our investors."
The six Class A office properties represent a total of 784,424 square feet and include:
- 1111 International Boulevard, Burlington Ontario
- 1122 International Boulevard, Burlington Ontario
- 2020 Winston Park Drive, Oakville Ontario
- 2060 Winston Park Drive, Oakville Ontario
- 2265 Upper Middle Road East, Oakville Ontario
- 2275 Upper Middle Road East, Oakville Ontario
"These acquisitions are in line with Fengate Capital's current growth and investment strategy," says Lou Serafini Jr. " This is an exciting time for the company and a great opportunity for our clients."
About Fengate Capital Management
Fengate Capital is an asset management firm in the alternatives sector specializing in the management of customized infrastructure and real estate investment funds for institutional clients. The Firm has over $1.5 billion in assets under management with expertise in infrastructure, commercial real estate and seniors housing. With significant experience in public-private partnerships, independent power projects and real estate developments, Fengate Capital targets high quality investments across North America and select international markets. Since 2007, Fengate Capital has been recognized as one of "Canada's Best Managed Companies".
SOURCE Fengate Capital Management
Image with caption: "Fengate Capital Announces $220 million Property Acquisition (CNW Group/Fengate Capital Management)". Image available at: http://photos.newswire.ca/images/download/20140120_C9642_PHOTO_EN_35688.jpgFor further information:
Lou Serafini Jr.,
President and CEO