Toronto-based Conundrum Capital has completed a final close for its latest Canada-focused real estate investment vehicle, Q Residential Property Income Fund V.
The core-plus, value-add fund raised C$352 million ($268 million), against a target of C$400 million ($316.7 million).
After launching in January 2018, the firm initially said it was seeking to raise capital in the area of C$300 million ($240 million) or more. The fund was offered to resident and nonresident investors.
Like its predecessor, Q Residential Property Income Fund IV, the fifth fund in the series will look to invest in multifamily properties in Canada’s urban markets, with a focus on the Ontario market.
Q Residential Property Income Fund IV held a C$243 million ($194 million) final clo
