Big international players are looking at Canada for profitable commercial real estate investments. Kuwait Finance House just announced a JV with Killam Properties to pick up north of $400 mil of Canadian multi family residential real estate
Kuwait Finance House establishes a joint venture with Killam Properties Inc.
The initial program is to acquire CDN$250 million of multi-family residential properties within the next 24 months. The partners will contribute equity of $100 million with a $75 million contribution from KFH and $25 million by Killam for a holding period of up to seven years.
Sigma Real Estate Advisors assisted in arranging the joint venture, which intends to be fully invested over a two year period, subject to market conditions. Killam will receive asset and property management fees from the joint venture.
“We are very pleased to be making our first investment in the Canadian real estate sector,” stated Abdul Naser A. Al-Subaih, Assistant General Manager for the Investment Sector of KFH. “The investment is a continuation of our strategy to add value for our partners, our clients and our shareholders. We believe the Canadian market offers exceptional value, and we intend to make further investments in the country going forward. We look forward to working with Killam and their experienced management team.”
“We are pleased to be establishing a joint venture with a high quality partner like KFH,” added Philip Fraser, Killam’s President and Chief Executive Officer. “The venture will allow us to further expand our property portfolio and increase cash flows through property asset and management fees.”
For more information about the commercial real estate market in Waterloo Region, contact me today at Benjamin@BenjaminBach.com or call me at 519.772.4376.
KW Commercial is your one stop shop for commercial, investment, retail and multi family advice and brokerage in Waterloo Region.
Related posts:
