TORONTO, Jan. 20, 2014 /CNW/ - Fengate Capital Management Ltd. ("Fengate Capital"), one of Canada's leading alternative asset management firms, announced that in December 2013, it disposed of an industrial portfolio located in Cambridge Ontario. The portfolio sold 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, for a sale price of $20.61 million. The 290,544 square feet industrial complex contained six multi-tenant buildings and had a 92% occupancy rate.
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".
Image with caption: "Fengate Capital Announces Disposition of $20 Million Dollar Industrial Portfolio (CNW Group/Fengate Capital Management)". Image available at: http://photos.newswire.ca/images/download/20140120_C9644_PHOTO_EN_35689.jpg
SOURCE: Fengate Capital Management
For further information:
Lou Serafini Jr.,
President and CEO