Crown Realty Partners Announces Initial Closing for its Fifth Value-Add Fund
TORONTO, Feb. 09, 2021 (GLOBE NEWSWIRE) — Crown Realty Partners (“Crown”) is pleased to announce that it has launched its fifth value-add fund, Crown Realty V Limited Partnership (“CR V LP”, or “Fund V”) and completed its first closing with $140 million of commitments from both institutional groups and family offices. The fund expects to complete its final closing later this year.
Consistent with the value-add philosophy of its predecessor funds, Fund V will focus on commercial real estate assets with value enhancement opportunities located within Canada’s primary office markets, especially the Greater Toronto Area and the Greater Ottawa Area. “We are privileged to have the continued confidence of our long-term investors and are excited to work diligently to provide enhanced returns and value to our investors as a responsible fiduciary of their capital,” said Emily Hanna, Partner, Investments for Crown. Les Miller, Managing Partner added, “Despite how pleased we are to announce the initial closing of Fund V, we recognize the disruption and hardship the pandemic is causing for businesses and their employees. We know there will continue to be challenges in the days ahead, but we are confident that the deep team we have built at Crown over the past 20 plus years is prepared to tackle them.”As Crown continues its fundraising efforts for Fund V, it is concurrently investing on behalf of its fourth value-add fund and is actively seeking investment opportunities. To ensure a strong alignment of interests with investors, the partners at Crown always invest in its funds.About Crown Realty Partners
Crown is an integrated commercial real estate investment and management firm focused on value-add opportunities across Canada, with over two billion dollars of real assets under management. Founded in 2001, Crown has a well-established track record, an experienced team and takes a hands-on approach to provide superior returns for investors and better workplaces for tenants.For further information, please contact:
Crown Realty Partners
LinkedIn: Crown Property Management Inc.