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Fundraising - AUGUST 9, 2022

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Marlin Spring secures $80m for second development fund

by Kali Persall

Toronto-based Marlin Spring, one of Canada’s largest privately owned real estate firms, has closed on more than $80 million of commitments for its second development fund.

Fund II will be focused on the development and construction of low-, mid- and high-rise residential projects located primarily in the greater Toronto area, with an allocation for development opportunities in other major urban markets.

An additional closing is expected to take place in the coming months.

“We are pleased to have secured additional capital at this time to continue our focused growth strategy,” said Ashi Mathur, president of Marlin Spring. “Our dedicated and experienced team is well positioned to continue to pursue partnerships and acquisitions of additional residential development projects.”

The first fund in the series was completed in July 2021 with a total fund size of $125 million. Fund I is now fully committed through its investments in five development proj

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