/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED
STATES/
MONTREAL, Oct. 1, 2024
/CNW/ - Fiera Real Estate Investments Limited ("Fiera Real
Estate") is pleased to announce the opening of the Fiera Canadian
Real Estate Debt Fund L.P. (the "Fund") to qualified external
investors, marking a key step toward the expansion of its real
estate financing strategy created in 2006 (the "Strategy"). This
initiative aims to significantly increase investment opportunities
by raising additional capital from private and institutional
investors, with a goal of reaching CAD 1.5
billion in capitalization over the next few years.
The Fund is structured as a limited partnership and operates as
an open-ended fund that aims to provide stable and attractive
returns. It achieves this through short-term investments with real
estate developers and landowners to support their construction
projects or the redevelopment of their real estate assets in
Canada. The Strategy aims to
preserve unitholders' equity while generating competitive returns,
providing investors with liquidity and a stable stream of
distributions from these investments.
"Over the past 18 years, the Strategy has demonstrated its
ability to generate solid and consistent returns. Opening this Fund
to qualified external investors is an exceptional opportunity for
those seeking a reliable investment in the Canadian real estate
sector. We remain true to our investment philosophy of risk
management and capital preservation, and I am confident that the
Fund will continue to offer highly competitive returns," said
Pierre Pelletier, Senior Managing
Director and Head of Development and Debt.
Since its inception, the Strategy has delivered superior
risk-adjusted returns to its investors, with an average net annual
return of 7.91% and assets under management of nearly C$800 million as at June
30, 2024. With a total of over C$5.5
billion in real estate loans distributed across Canada since 2006, the Fund aims to extend its
reach to qualified external investors with its robust and proven
real estate financing strategy now available for direct
investment.
Martin Saulnier, Head of Real
Estate Debt, commented: "The enthusiasm for development
opportunities is gradually returning to the market. This can be
attributed to recent interest rate cuts, the stabilization of
construction costs, an apparent lack of residential units at the
national level, and a sustained demand for industrial space. We
envision a future where the Fund will continue to play a central
role in financing innovative real estate projects across
Canada, while seeking to offer
investors opportunities for attractive risk-adjusted returns.
Increasingly, borrowers in the Canadian commercial mortgage market
are turning to non-bank lenders to meet their financing
needs. The Fund is well positioned to benefit from this trend
in the real estate lending market as it seeks to offer its
investors stable risk-adjusted net returns with low correlation to
stock market fluctuations."
The Fund offers real estate developers and landowners a
diversified range of financing products tailored to their specific
needs, including first- and second-lien financing, between
C$5 and C$50
million, with loan terms between 12 and 24 months. These
loans are secured by high-quality real estate assets located in
major Canadian markets. In addition, the portfolio is strategically
diversified and comprised of quality real estate development
projects in Canada's urban
centers. Diversification by region and solution type helps mitigate
risk and maximize investor returns.
For more information on Fiera Canadian Real Estate Debt Fund
L.P. and other Fiera Real Estate strategies, please visit
https://ca.fierarealestate.com/strategies/debt-funds/
About Fiera Real Estate
Fiera Real Estate Investments Limited ("Fiera Real Estate") is a
leading investment management company with offices in North America and Europe, and a team of over 90 employees. The
firm manages over C$10.2 billion of
commercial real estate globally through a range of funds and
accounts as at June 30, 2024. The
highly diverse nature of its portfolio – geographies and asset
types – combined with a range of high-quality strategies provides
investors with opportunities to diversify their exposure and
customize their investment experience within the real estate asset
class. Fiera Real Estate is wholly owned by Fiera Capital
Corporation, a leading independent asset management firm with more
than C$158.9 billion in assets under
management as at June 30, 2024.
ca.fierarealestate.com
About Fiera Capital Corporation
Fiera Capital Corporation ("Fiera Capital") is a leading
independent asset management firm with a growing global presence.
Fiera Capital delivers customized and multi-asset solutions across
public and private market asset classes to institutional, financial
intermediary, and private wealth clients across North America, Europe, and key markets in Asia. Fiera Capital's depth of expertise,
diversified investment platform, and commitment to delivering
outstanding service are core to our mission of being at the
forefront of investment management science to create sustainable
wealth for clients. Fiera Capital trades under the ticker FSZ on
the Toronto Stock Exchange.
Headquartered in Montreal,
Fiera Capital, with its affiliates in various jurisdictions, has
offices in over a dozen cities around the world, including
New York (U.S.), London (UK), and Hong Kong (SAR).
Each affiliated entity (each an "Affiliate") of Fiera
Capital only provides investment advisory or investment management
services or offers investment funds in the jurisdictions where the
Affiliate is authorized to provide services pursuant to an
exemption from registration and/or the relevant product is
registered.
Fiera Capital does not provide investment advice to U.S. clients
or offer investment advisory services in the U.S. In the U.S.,
asset management services are provided by Fiera Capital's
affiliates who are investment advisers that are registered with the
U.S. Securities and Exchange Commission ("SEC") or exempt
from registration. Registration with the SEC does not imply a
certain level of skill or training. For details on the particular
registration of, or exemptions therefrom relied upon by, any Fiera
Capital entity, please consult
https://www.fieracapital.com/en/registrations-and-exemptions.
Additional information about Fiera Capital, including the Fiera
Capital's annual information form, is available on SEDAR+ at
www.sedarplus.ca.
Disclosure
Past performance is not a guarantee of future results.
Inherent in any investment is the potential for loss.
The information presented is for informational purposes only and
is not intended to be, and should not be construed as, an offer to
sell, or the solicitation of an offer to buy, any investment
product. The information presented in this document, in whole or in
part, is not investment, tax, legal or other advice, nor does it
consider the investment objectives or financial circumstances of
any investor.
This document may contain "forward-looking statements" which
reflect the current expectations of Fiera Capital and/or its
Affiliates. These statements reflect current beliefs, expectations,
and assumptions with respect to future events and are based on
information currently available. Although based upon what Fiera
Capital and its affiliates believe to be reasonable assumptions,
there is no guarantee that actual results, performance, or
achievements will be consistent with these forward-looking
statements. There is no obligation for Fiera Capital and/or its
Affiliates to update or alter any forward-looking statements,
whether as a result of new information, future events or
otherwise.
SOURCE Fiera Capital Corporation