The Pearl Group launches its inaugural Growth Fund; Targets $150 Million in Assets
- The Pearl Group Growth Fund ("PGGF") is a private, closed-ended fund that invests in value-add commercial real estate across the Greater Toronto Area
- PGGF has a 12-15% targeted annual total net return*
TORONTO, May 11, 2022 /CNW/ - The Pearl Group ("TPG") launched PGGF and completed funding on November 24th, 2021. The funds will be used to acquire $150 million portfolio of commercial real estate assets focused on value-add investment opportunities in the Greater Toronto Area. "We have launched our inaugural Growth Fund by acquiring five properties within the first six months, earning ourselves an ability to be nimble and selective as we deploy our remaining equity", said Jordan Pearl, President.
"PGGF will target a diversified set of properties and will hold long-term income and capital appreciation upside that can be unlocked through creative repositioning", said Jordan Pearl. "We will focus on acquiring properties where we have experience and long-term relationships, emphasizing our ability to achieve top-decile returns in retail, office, and industrial asset classes", Mr. Pearl added.
The Pearl Group's Investment Highlights Include:
- Long track record of successful market-leading value-add returns in urban Toronto;
- Diversified mid-market mandate provides TPG with latitude to focus on sectors with strongest tailwinds;
- Ability to unlock opportunities arising from post-COVID market dislocations;
- Currently 66% deployed across five assets with $91.1 million assets under management, including: 6515 Kitimat Road, 449 King Street East, 20 Leslie Street, 50 St. Clair Avenue East and 96 Carlaw Avenue.
"The Pearl Group's access to mid-market investment opportunities, coupled with its in-house capabilities in resolving leasing, financial structuring, redevelopment and environmental risk put us in a position to be able to drive meaningful long-term returns.", said Ryan Nelson, VP Investments. "In periods of market instability, The Pearl Group has consistently been able to unlock solid returns by remaining patient and decisive", continued Mr. Nelson.
"The Pearl Group has a long track record of acquiring real estate assets at prices that generate top decile returns for investors. Our nimble and opportunistic team brings expertise in all aspects of real estate management", said Jordan Pearl. "The Pearl Group has deep ties within the Toronto real estate market, giving us unique access to investment opportunities and early insight into leasing trends where we can unlock value", added Mr. Pearl.
Details of this offering can be found in the offering document. For more information about the offering, visit: http://www.pearlgroup.ca/growth-fund/. This communication is for information purposes only.
*Preferred returns and annual total net returns are not guaranteed. The expectation, timing and payment of distributions and the annual total net return targets are based on various assumptions and subject to certain risks |
PGGF is a closed-ended fund focused on commercial real estate in the Greater Toronto Area. PGGF aims to provide meaningful risk-adjusted returns through both distributions and capital appreciation by investing in private real estate. PGGF's investments are focused on industrial, retail and office properties. The fund seeks to target assets that meet its value-add strategy.
Since its founding in 1973, The Pearl Group has become a leading investment management firm focused on commercial real estate assets. Headquartered in Toronto, the firm has over $450 million assets under management and specializes in executing core and value add strategies in urban cities across North America. Visit: www.pearlgroup.ca.
Related Links
http://www.pearlgroup.ca/growth-fund/
SOURCE The Pearl Group
Jordan Pearl, President, 416-519-2112, [email protected]
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