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TORONTO, April 15, 2015 /CNW/ - Tricon Capital Group Inc. ("Tricon" or the "Company") (TSX: TCN), an asset manager and principal investor focused on the residential real estate industry, today announced that its Tricon American Homes subsidiary has completed its previously-announced approximately US$150 million acquisition of a portfolio of 1,385 single-family rental homes situated in Texas, North Carolina, and South Carolina from a U.S.-based private equity fund manager.
About Tricon Capital Group Inc.
Tricon is an asset manager and principal investor focused on the residential real estate industry in North America with approximately $2.5 billion of assets under management. Tricon owns, or manages on behalf of third party investors, a portfolio of investments in land and homebuilding assets, single-family rental homes and manufactured housing communities. Our business objective is to earn fee income through our Private Funds and Advisory business and to invest for investment income and capital appreciation through our Principal Investment business. Since inception in 1988, Tricon has invested in real estate and development projects valued at approximately $16 billion. More information about Tricon is available at www.triconcapital.com.
SOURCE Tricon Capital Group Inc.
For further information: Gary Berman, President & Chief Executive Officer, Tel: 416-928-4122, Email: [email protected]; Wissam Francis, Executive Vice President - Corporate Finance, Tel: 416-323-2484, Email: [email protected]